Seelos falls as lead drug fails in ALS trial

seekingalpha03-19

Seelos Therapeutics (NASDAQ:SEEL) lost ~43% premarket on Tuesday after SLS-005, one of its lead candidates, failed to reach the main goals in a Phase 2/3 trial for patients with amyotrophic lateral ...

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Based on initial data, the New York-based biopharma said its HEALEY ALS Platform trial for SLS-005, a sugar molecule designed to cross the blood-brain barrier, did not meet statistical significance for primary and secondary endpoints. However, there was evidence of efficacy, the company said, referring to data from a subgroup of patients who received SLS-005 without Relyvrio, an ALS drug developed by Amylyx Pharmaceuticals (AMLX), which recently suffered a Phase 3 setback. As for safety, Seelos (SEEL) noted that the incidence of deaths and equivalent events was higher in the SLS-005 group compared to the placebo arm. However, the company added that the issues were unrelated to the study drug. The trial was a partnership between SEEL and Massachusetts General Hospital's Sean M. Healey & AMG Center for ALS. \"We plan to request a meeting with the FDA to discuss potential next steps for the program and will continue our potential partner discussions,\" Seelos' (SEEL) CEO Raj Mehra said.  More on Seelos Therapeutics  Seelos Therapeutics files for 3.4M shares secondary offering Mind Medicine sends psychedelic stocks higher after FDA status for LSD formulation Seeking Alpha’s Quant Rating on Seelos Therapeutics Historical earnings data for Seelos Therapeutics Financial information for Seelos Therapeutics","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.23.1","shortVersion":"4.23.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2420248192"}