Why Is Depression Focused Seelos Therapeutics Stock Plunging Today?
Portfolio Pulse from Vandana Singh
Seelos Therapeutics Inc (SEEL) announced topline data from its Phase 2 study of SLS-002 for Acute Suicidal Ideation and Behavior in adults with Major Depressive Disorder. The study did not meet the pre-defined primary endpoint due to limited sample size caused by financial constraints. However, the company stated that the study demonstrated clinically meaningful treatment effects and a well-tolerated safety profile. SEEL shares are down 75.90% at $0.24.
September 20, 2023 | 2:38 pm
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NEGATIVE IMPACT
Seelos Therapeutics' stock plunged following the announcement of its Phase 2 study results. The study did not meet the primary endpoint due to limited sample size, but the company reported meaningful treatment effects.
The stock price of Seelos Therapeutics plunged due to the announcement that its Phase 2 study did not meet the primary endpoint. This is a significant event for the company as it impacts the perceived value and potential future revenue of its product, SLS-002. Despite the company reporting meaningful treatment effects, the failure to meet the primary endpoint due to financial constraints and limited sample size has negatively impacted investor confidence, leading to a drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100