Seelos' stock plunges by over 75% af­ter ke­t­a­mine drug for sui­cide pre­ven­tion fails a PhII tri­al

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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