Seelos Therapeutics (SEEL) Stock Climbs On Interim Data

Seelos Therapeutics SEEL Stock News

Seelos Therapeutics Inc (NASDAQ: SEEL) is making a run for the top in the market this morning, trading on gains of well over 7% just after the opening bell. The gains come after the company announced interim data, exciting investors. Here’s what’s going on:

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SEEL Stock Heads Up On Interim Data

In a press release issued early this morning, Seelos provided interim data from a Phase 1 study. In the study, the company is assessing SLS-002 or Intranasal Racemic Ketamine.

Ultimately, the trial is assessing the treatment as a standalone therapy or in combination with an oral antidepressant. So far, data has been positive. The drug is proving to be safe and well-tolerated.

In the release, SEEL said that all adverse events, with the exception of one, proved to be mild or moderate, with all adverse events proving to be transient in nature. Moreover, all events have been resolved without medical intervention and only one of 42 patients have discontinued the trial prematurely.

In a statement, Raj Mehra, Ph.D., Chairman and CEO at SEEL, had the following to offer:

This study is highly encouraging in regard to the side effect profile of SLS-002. We look forward to releasing data throughout the quarter as additional study cohorts are completed and evaluated.

This News Is Exciting

Positive data is always a good thing in the world of biotechnology, however, this announcement is even more exciting than the normal data announcements that we see.

Not only was the data positive, it surrounded an asset that Seelos has earned Fast Track designation for. The designation was provided to the treatment under the Acute Suicidal Ideation and Behavior indication in patients with Major Depressive Disorder.

With the Fast Track designation in mind, SEEL has a shorter path to potential approval and every data release brings it closer.

Moreover, the company outlined the fact that more catalysts are on the horizons. In particular, SEEL is expecting to release data from the Phase 1 studies of the drug throughout the first quarter of 2020. These releases include information on pharmacokinetics, pharmacodynamics, and the safety of multiple, repeated, single doses of SLS-002. The company will also be releasing data with regard to IV ketamine in the first quarter.

Of course, each of these data releases has the potential to act as a positive catalyst. So, keep a close eye on the stock ahead!

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