Seelos Therapeutics Inc. experienced a significant decline in its stock SEEL, dropping by 36% during premarket trading on Wednesday. The reason behind the decline was a rather unexpected revelation from the company regarding the results of a trial for their treatment of Acute Suicidal Ideation and Behavior (ASIB) in adults with Major Depressive Disorder (MDD). While the trial demonstrated promising results, it failed to meet its primary endpoint due to the small sample size employed.
Seelos had initially aimed to enroll 220 patients in the Phase 2 trial of SLS-002, an intranasal racemic ketamine treatment. However, financial constraints forced them to settle for a reduced enrollment of 147 patients. The data collected from these subjects were analyzed using a depression rating scale and showed early...
Maplebear (Instacart) Makes a Strong IPO Debut
Maplebear, also known as Instacart, made quite a splash on Tuesday with its successful debut as a grocery-delivery app. The stock opened a striking 40% above the initial IPO price.
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