Seelos Therapeutics’ stock slides 58% after trial of treatment for suicidal ideation has too few patients to meet endpoint

Seelos Therapeutics Inc.’s stock SEEL tumbled 58% in premarket trade Wednesday, after the company reported promising results from a trial of a treatment for Acute Suicidal Ideation and Behavior (ASIB) in adults with Major Depressive Disorder (MDD) but said a too-small sample size means the study did not meet its primary endpoint. Seelos enrolled 147 patients in the Phase 2 trial of SLS-002, intranasal racemic ketamine, below its target for 220 patients, which it blamed on financial constraints. The data from the 147 subjects were evaluated using the protocol-endpoint based on a depression rating scale and showed early…