Seelos Therapeutics, Inc. 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 focused on psychedelics which began trading on Friday, May 28 th on the New York Stock Exchange under the symbol PSY. …
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 28 th 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).
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.
Head of Corporate Communications
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue
New York, NY 10022
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SOURCE Seelos Therapeutics, Inc.
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