SEEL News & Events

Seelos Therapeutics received notice that the Nasdaq Hearings Panel had determined to delist the company's common stock from Nasdaq due to the company's failure to comply with the minimum stockholder's equity requirement. Trading in the company's common stock will be suspended on Nasdaq effective with the open of business on October 16. As a result, the company expects its common stock to begin trading on the OTCQB on that date.

Seelos Therapeutics announced that its Board of Directors approved a 1-for-16 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on Friday, September 27, 2024. The company's common stock, par value $0.001, will begin trading on a reverse stock split-adjusted basis at the opening of the market on Friday, September 27, 2024. Following the reverse stock split, the company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "SEEL" with the new CUSIP number, 81577F 406. The reverse stock split is intended for the company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market. The reverse stock split was approved by the company's Board of Directors pursuant to Section 78.207 of the Nevada Revised Statutes and was effectuated by the filing of a Certificate of Change with office of the Nevada Secretary of State.

Seelos Therapeutics signed a Material Transfer Agreement with the U.S. Army Medical Materiel Development Activity - USAMMDA - to supply SLS-002 - intranasal racemic ketamine - for the U.S. Department of Defense's Military and Veterans Adaptive Platform Clinical Trial to evaluate its potential for treatment of post-traumatic stress disorder. Dosing of the SLS-002 cohort is expected to commence prior to the end of 2024. The trial is funded by the DOD's Defense Health Agency and led by USAMMDA's Warfighter Readiness, Performance, and Brain Health Project Management Office. The Phase II study that will evaluate the safety, tolerability, and efficacy of multiple pharmacotherapeutic interventions in active-duty service members and veterans with PTSD. Endpoints include the incidence of new or worsening suicidal thoughts or behaviors. In addition, the trial is evaluating several biomarkers associated with PTSD and assessing treatment safety and tolerability.