Seelos Therapeutics Delisted From Nasdaq, Will Transition To OTC Market

Seelos Therapeutics, Inc. SEEL, a biopharmaceutical company developing treatments for central nervous system disorders and rare diseases, announced that it received a notice on October 14, 2024, from the Nasdaq Hearings Panel to delist its common stock.

This decision follows Seelos’ failure to meet the Nasdaq’s minimum stockholder equity requirement, despite an extension until October 11, 2024, to regain compliance. Trading will be suspended on Nasdaq starting October 16, 2024, with Seelos expected to begin trading on the OTCQB market. There is no guarantee that the company’s common stock will continue to be traded in over-the-counter markets.

The notice comes weeks after the company signed a material transfer agreement for the Department of Defense's Military and Veterans Adaptative Platform Clinical Trial for PTSD. The research will be conducted by U.S. Army Medical Material Development Activity (USAMMDA) using Seelos' compound SLS-002, and will evaluate the effectiveness, safety and tolerability of SLS-002 for current military members and veterans with PTSD.

Price Action:

SEEL shares traded 45.32% lower at $1.34 per share at the of this publication early afternoon on Tuesday.

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