Why Seelos Therapeutics Dived by 24% Today
The stock of Seelos Therapeutics (NASDAQ: SEEL), a clinical-stage biotech that focuses on central nervous system (CNS) afflictions, was hit with an over 24% sell-off on Monday. Seemingly positive clinical trial news was heavily tempered by an analyst downgrade.
An open-label study of Seelos' SLS-002 drug aimed at treating acute suicidal ideation and behavior in patients suffering from major depressive disorder produced very promising results.
The company found that SLS-002 had a 76.5% response rate in its primary endpoint of notably reducing their baseline on the Montgomery-Asberg Depression Rating Scale (MADRS). That response rate was just under 93% for the secondary endpoint, which was a more modest MADRS reduction.
Source Fool.com
