Seelos Therapeutics Inc (NASDAQ: SEEL) is having an incredibly strong start to the trading session today, and for good reason. The comapny announced that it has acquired a license to key intellectual property, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The license acquisition;
- what we’re seeing from SEEL stock as a result; and
- what we’ll be watching for ahead.
SEEL Announces License Acquisition
As mentioned above, Seelos Therapeutics is having an incredibly strong start to the trading session this morning after announcing a license acquisition.
In a press release issued in the pre-market hours, the company said that it has acquired intellectual property owned by The Regents of the University of California. The IP is related to a technology that was created by researchers at UCLA.
In particular, SEEL said that the technology relates to a family of rationally-designed peptide inhibitors that target the aggregation of alpha-synuclein. The company plans to study this approach in Parkinson’s disease and will further evaluate the approach in other disorders having to do with the central nervous system.
In the release, the company said that the new program will be known as SLS-007.
In a statement, Raj Mehra, PhD, Chairman, Founder and CEO at SEEL, had the following to offer:
Accumulation and aggregation of α-synuclein is a pathological hallmark of PD. Though its role is not completely understood, it appears pivotal in the pathogenesis of PD and other α-synucleinopathies such as dementia with Lewy bodies and multiple system atrophy. Reducing the levels of pathological forms of α-synuclein may alter the course of PD.
The above statement was followed up by Tim Whitaker, MD, Head of R&D at Seelos. Here’s what he had to say:
Despite current available treatments for PD, including levodopa and deep brain stimulation, long-term outcomes for patients remain poor. With no disease-modifying treatments, and long-term use of established dopaminergic therapies resulting in both adverse events and side effects, significant need remains to develop not only a better means of restoring striatal dopamine but a safe and effective treatment that slows progression of the disease in patients with PD. If we are successful in our planned pre-clinical and future clinical studies, SLS-007 may prove to be such a treatment.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Seelos, the news proved to be overwhelmingly positive.
With the new license, the company has started an entirely new clinical program that brings value to investors. Down the line, SLS-007, if effective, safe and tolerable, could become the first approved disease modifying treatment in this space.
So, it comes as no surprise to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:57), SEEL is trading at $2.37 per share after a gain of $0.82 per share or 52.90% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a clos eye eon SEEL. In particular, we’re interested in following the story surrounding the company’s work to bring SLS-007 to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!