NEW YORK, June 1, 2021 /PRNewswire/ -- Seelos Therapeutics,
Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company
focused on the development of therapies for central nervous system
disorders and rare diseases, announced today that it has been
included in the Defiance Next Gen Altered Experience ETF, the
first U.S. listed Exchange Traded Fund (ETF) focused on
psychedelics which began trading on Friday,
May 28th on the New York Stock Exchange under the
symbol PSY.
Seelos' inclusion is based on its lead program SLS-002
(intranasal racemic ketamine), which recently released positive
top-line data from Part 1, the open-label cohort, of its
potentially registrational Proof-of-Concept study for Acute
Suicidal Ideation and Behavior (ASIB) in patients with Major
Depressive Disorder (MDD).
The Defiance Next Gen Altered Experience ETF, managed by
Defiance ETFs, LLC, is the first U.S. listed psychedelic ETF which
seeks to track the BITA Medical Psychedelics, Cannabis, and
Ketamine Index, a rules-based index that tracks the performance of
companies, listed in North American Exchanges, that operate
business models focused on the usage of Psychedelics, Medical
Cannabis, and Ketamine for medicinal and health treatment purposes.
Companies included in the ETF must have a minimum market
capitalization of $75 million, and
operate in the production of, distribution of, or services related
to medical psychedelics, medical cannabis or ketamine and its
derivatives.
If you or a loved one are having thoughts of suicide, please
seek immediate medical help, go to your nearest emergency room, or
call the National Suicide Prevention Lifeline at
1-800-273-8255.
About Defiance ETFs
Founded in 2018, Defiance ETFs, LLC is a FinTech asset manager
and an exchange-traded funds (ETFs) sponsor focused on the next
generation of investors. The Psychedelic
ETF ($PSY) joins Defiance's suite of first-mover
disruptive ETFs, which includes Next Gen H2 ($HDRO), the
first SPAC ETF ($SPAK), and the first 5G
ETF ($FIVG).
About SLS-002
SLS-002 is intranasal racemic ketamine with investigational new
drug applications for the treatment of ASIB in MDD or
Post-Traumatic Stress Disorder (PTSD). SLS-002 was originally
derived from a Javelin Pharmaceuticals, Inc./Hospira, Inc. program
with 16 clinical studies involving approximately 500 subjects.
SLS-002 is being developed to address an unmet need for a therapy
to treat suicidality in the U.S. Traditionally, anti-depressants
have been used in this setting, but many of the existing treatments
are known to contribute to an increased risk of suicidal thoughts
in some circumstances, and if they are effective, it often takes
weeks for the full therapeutic effect to be manifested. Based on
information gathered from the databases of the Agency for
Healthcare Research and Quality, there were more than 1,000,000
visits to emergency rooms for suicide attempts in 2013 in the U.S.
alone. Experimental studies suggest ketamine has the potential to
be a rapid, effective treatment for depression and suicidality.
Forward Looking Statement
Statements made in this press release, which are not
historical in nature, constitute forward-looking statements for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. These statements include, among
others, those regarding Seelos' inclusion in the Defiance Next Gen
Altered Experience ETF, and the potential for ketamine to be a
rapid, effective treatment for refractory depression and
suicidality. These statements are based on Seelos' current
expectations and beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Risks
associated with Seelos' business include, but are not limited to,
the risk of not successfully executing its preclinical and clinical
studies, including the Proof of Concept study of SLS-002, and not
gaining marketing approvals for its product candidates, the risk
that prior clinical results may not be replicated in future studies
and trials (including the risk that the clinical results from the
planned Part 2 of the Proof of Concept study of SLS-002 are not
replicated or are materially different from the topline clinical
results of Part I of the Proof of Concept study of SLS-002), the
risks that clinical study results may not meet any or all endpoints
of a clinical study and that any data generated from such studies
may not support a regulatory submission or approval, the risks
associated with the implementation of a new business strategy, the
risks related to raising capital to fund its development plans and
ongoing operations, risks related to Seelos' current stock price,
risks related to the global impact of COVID-19, as well as other
factors expressed in Seelos' periodic filings with the U.S.
Securities and Exchange Commission, including its Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q. Although we believe
that the expectations reflected in our forward-looking statements
are reasonable, we do not know whether our expectations will prove
correct. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
even if subsequently made available by us on our website or
otherwise. We do not undertake any obligation to update, amend or
clarify these forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws.
Contact Information
Anthony Marciano
Head of Corporate Communications
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com
www.seelostherapeutics.com
https://twitter.com/seelostx
https://www.linkedin.com/company/seelos
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SOURCE Seelos Therapeutics, Inc.