Seelos' stock plunges by over 75% after ketamine drug for suicide prevention fails a PhII trial
20 Sep 2023
Phase 2Clinical Trial Failure
Seelos Therapeutics’ intranasal racemic ketamine candidate has missed the primary endpoint in a Phase II trial of major depressive disorder patients with acute suicidal ideation, spooking investors as the company deals with the aftermath of recent financial strain.
The company’s stock
$SEEL
tanked by more than 75% on the Nasdaq to $0.24 in response to Wednesday’s news.
Seelos’ Phase II trial was set to enroll 220 MDD patients requiring hospitalization due to suicide risk, but financial constraints meant only 147 took part in the trial. These constraints also forced Seelos to
temporarily halt enrollment
in its Machado-Joseph disease study in March.
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