Seelos Therapeutics Reports Q1 2019 Pipeline Update
May 21 2019 - 8:30AM
Seelos Therapeutics, Inc. (NASDAQ: SEEL), a clinical-stage
biopharmaceutical company, provided an update on its
pipeline.
“We have made tremendous progress in our acquired programs as we
are finalizing the phase 2b/3 design for Sanfilippo under a Seelos
IND for SLS-005 and have initiated the in-vivo studies for
SLS-007,” said Raj Mehra, Ph.D., CEO of Seelos Therapeutics.
“Additionally, due to the complex nature of the merger accounting,
our first quarter financial report is taking longer than we
anticipated but we wanted to update the street on our clinical and
pre-clinical progress in the first quarter.”
First Quarter Corporate Highlights
- On January 24th, Seelos Therapeutics completed its merger with
Apricus and began trading under the symbol “SEEL” on the NASDAQ.
Seelos completed a capital raise in conjunction with the merger.
Proceeds received at the closing were approximately $18 million,
prior to payment of transaction costs.
- In February, Seelos acquired the worldwide development and
commercial rights to Bioblast’s proprietary Trehalose 90 mg/mL IV
solution and all inventory of the drug. Seelos has named this
program SLS-005.
- In addition, in February, Seelos assumed a collaborative
agreement with Team Sanfilippo Foundation (TSF) as part of the
aforementioned acquisition.
- In March, Seelos acquired a license to technology developed at
UCLA that relates to a family of rationally-designed peptide
inhibitors that target the aggregation of alpha-synuclein
(α-synuclein). Seelos has named this program SLS-007.
Update on Pipeline Development
Seelos will webcast its presentation at the Jefferies 2019
Healthcare Conference at 8am (ET) on Friday, June 7th. Investors
can access this presentation using this link:
http://wsw.com/webcast/jeff118/seel/
- SLS-002 (intranasal racemic ketamine)• In line with our
investigational new drug (IND) program, preparations are underway
to initiate our phase I in Q3 2019 to further evaluate the
pharmacokinetics (PK), pharmacodynamics (PD), and drug-drug
interactions (DDI) of SLS-002 in patients with post-traumatic
stress disorder (PTSD) at imminent suicide risk (suicidality).
- SLS-005 (Trehalose)• Seelos is finalizing the protocol for
an FDA/EMA open-label phase IIb/III trial in Sanfilippo syndrome
type A and B patients.• Based on an overwhelming response from
the Sanfilippo community worldwide, TSF, in collaboration with
Seelos Therapeutics, has decided to expand inclusion of Sanfilippo
type C and D patients as well as type A and B patients who do not
meet the trial entry criteria into a separate expanded patient
access study.
- SLS-007 (Peptidic inhibitors)• Seelos has initiated this
peptide-based approach targeting the NACore (nonamyloid component
core) in Parkinson’s Disease (PD) in a proof of concept, in-vivo
delivery of SLS-007 in a PD transgenic mice model in Q2 2019.
Forward-Looking Statements
Statements made in this press release, which are not historical
in nature, constitute forward-looking statements for purposes of
the safe harbor provided by the Private Securities Litigation
Reform Act of 1995. These statements include, among others, those
regarding our expectations regarding the expected timing for dosing
the first patient with Sanfilippo Syndrome with Trehalose,
expectations regarding the initiation of a phase I study with
intranasal racemic ketamine in Suicidality-PTSD and expectations
regarding proof of concept for target engagement for peptide-based
approach targeting the NACore in Parkinson’s Disease. These
statements are based on the company’s current expectations and
beliefs and are subject to a number of factors and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. Risks associated to
Seelos’ business include, but are not limited to, the risk of not
successfully executing its preclinical and clinical studies and not
gaining marketing approvals for our product candidates, the risks
associated with the implementation of a new business strategy, the
risks related to raising capital to fund our development plans and
ongoing operations, as well as other factors expressed in Seelos’
periodic filings with the U.S. Securities and Exchange Commission,
including its Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q. Although we believe that the expectations reflected in
our forward-looking statements are reasonable, we do not know
whether our expectations will prove correct. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date hereof, even if subsequently made
available by us on our website or otherwise. We do not undertake
any obligation to update, amend or clarify these forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Contact Information:
Anthony MarcianoHead of Corporate CommunicationsSeelos
Therapeutics, Inc. (NASDAQ: SEEL)300 Park Ave., 14th FlNew York, NY
10022(646)
293-2136anthony.marciano@seelostx.comwww.seelostherapeutics.comhttps://twitter.com/seelostxhttps://www.linkedin.com/company/seelos
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