Home Equities Score Seelos Therapeutics Inc. (SEEL) stock gains during pre-market trading. Why is it...

Seelos Therapeutics Inc. (SEEL) stock gains during pre-market trading. Why is it so?

Seelos Therapeutics Inc. (NASDAQ: SEEL) stock declined by 24.28% at the last close whereas the SEEL stock price surge by 4.07% in the pre-market trading session. Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical corporation dedicated to the discovery and production of new therapeutics to meet the unmet medical needs of patients suffering from CNS conditions and other rare diseases.

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What is happening?

SEEL today reported promising results from Part 1 of its theoretically registrational Actual evidence trial of SLS-002 (intranasal racemic ketamine) in patients with Major Depressive Disorder, showing a substantial therapeutic benefit and a well-tolerated safety and efficacy for Acute Suicidal Ideation and Behavior (ASIB) (MDD).

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This study included 17 subjects identified with MDD who required psychiatric hospitalization due to a huge risk of suicide and had an average score of ≥ 28 on the Montgomery-Asberg Depression Rating Scale (MADRS), a score of 5 or 6 on MADRS Item-10, a score of ≥ 15 on the Sheehan-Suicidality Tracking Scale (S-STS) total score, and a history of a previous suicide attempt.

About SLS-002

SLS-002, intranasal racemic ketamine with investigational new drug formulations for the prevention of ASIB in MDD or Post-Traumatic Stress Disorder. SLS-002 was developed from a Javelin Pharmaceuticals, Inc. / Hospira, Inc. program that included 16 clinical trials affecting over 500 people. SLS-002 is being created to fill a need in the treatment of suicidality in the United States.

Raj Mehra, Ph.D., Chairman and CEO of Seelos commented:

SLS-002 could be an appropriate treatment for the large unmet need of acute suicidality in major depression due to its rapid and clinically meaningful effectiveness as an anti-depressive and anti-suicidal therapeutic after a single dose. These are tough times in our fight against the suicide crisis, which has been compounded by the global pandemic of COVID-19, and SLS-002 could help patients get effective care.

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