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Seelos Therapeutics shares push higher as it reveals patent news for SLS-005 drug

The group is focused on advancing therapeutics to address unmet medical needs for central nervous system disorders and other rare conditions

Seelos Therapeutics -
Seelos has received a 'Notice of Allowance' from the United States Patent and Trademark Office for the drug candidate, known as trehalose

Seelos Therapeutics Inc (NASDAQ:SEEL) shares advanced on Monday as the biopharma group reported on patent news for its SLS-005 drug, known as trehalose.

The group is focused on advancing various therapeutics to address unmet medical needs for central nervous system (CNS) disorders and other rare conditions.

READ: Seelos Therapeutics shares gain as it receives Orphan Drug designation for SLS-005

In a brief statement, Seelos said it had received a 'Notice of Allowance' from the United States Patent and Trademark Office (USPTO) to allow claims, which cover the composition of matter and method of use for trehalose (SLS-005) for a number of conditions.

The conditions are Spinal and bulbar muscular atrophy (SBMA); Dentatombral-pallidoluysian atrophy (DRPLA), Pick's disease, corticobasal degeneration (CBD), progressive supranuclear palsy (PSP), frontotemporal dementia, or parkinsonism linked to chromosome 17 (FTDP-17).

Monday's share price gain came after a strong advance on April 30 when Seelos revealed it had received Orphan Drug Designation from the US Food & Drug Administration (FDA) for SLS-005 as a treatment for patients with Type A and B versions of Sanfilippo syndrome, a childhood disorder that triggers fatal brain damage. The designation offers a number of advantages for firms, including access to various incentives like tax credits for qualified clinical testing.

SLS-005 has already been granted ODD status by the FDA, as well as the European Medicines Agency (EMA), for the treatment of Spinocerebellar Ataxia Type 3 and Oculopharyngeal Muscular Dystrophy.

New York-based Seelos said it has also submitted an application to the FDA requesting Rare Pediatric Disease Designation for SLS-005 and is awaiting the regulator’s response.

Seelos shares in New York were nearly 2% higher in early deals at $0.63.

Contact the author at [email protected]

Quick facts: Seelos Therapeutics

Price: 1.03 USD

NASDAQ:SEEL
Market: NASDAQ
Market Cap: $55.03 m
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