24/7 Market News Snapshot 24 September, 2024 – Seelos Therapeutics, Inc. Common Stock (NASDAQ:SEEL)

September 24, 2024

DENVER, Colo., 24 September, 2024 (247marketnews.com) – (NASDAQ:SEEL) are discussed in this article.
Seelos Therapeutics, Inc. (SEEL) is currently witnessing a substantial surge in its stock performance, trading at $0.404, reflecting a remarkable increase of 112.63% from a prior closing price of $0.190. This notable upward movement is highlighted by an impressive trading volume of 7.49 million shares, underscoring a heightened investor interest and strong market confidence in the company’s future endeavors. Observers will closely monitor whether this momentum can sustain, as SEEL endeavors to build upon this encouraging market trend.

In a significant development for the company’s therapeutic initiatives, Seelos has entered into a Material Transfer Agreement (MTA) with the U.S. Army Medical Materiel Development Activity (USAMMDA). This agreement facilitates the provision of SLS-002, an innovative intranasal racemic ketamine therapy, to be evaluated in the Military and Veterans Adaptive Platform Clinical Trial (M-PACT), targeting post-traumatic stress disorder (PTSD). This collaboration positions SLS-002 among a select group of ketamine-based therapies identified for participation in this critical study.

The M-PACT trial will rigorously assess the safety, efficacy, and tolerability of SLS-002 via a randomized, double-blinded, placebo-controlled approach, with dosing expected to commence in the fourth quarter of 2024. Raj Mehra, Ph.D., Chief Executive Officer of Seelos, emphasized the importance of this initiative, stating, “The inclusion of SLS-002 in the M-PACT study reflects a burgeoning recognition of ketamine’s potential in treating PTSD.” The study is especially vital given that PTSD impacts about 13 million individuals in the U.S., and new therapeutic interventions have remained scarce for over two decades.

Supported financially by the Department of Defense’s Defense Health Agency, the trial will employ an adaptive platform design that enhances operational efficiency, allowing for the randomization of participants across diverse treatment cohorts. Through this groundbreaking research, Seelos aims to provide essential insights regarding the management of PTSD symptoms and the overall safety of emerging treatments for both military personnel and veterans.

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