- The PTSD-Drug Treatment Program is funded by The U.S. Department of Defense's Defense Health Agency

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that SLS-002 (intranasal racemic ketamine) has been selected for inclusion in an adaptive platform trial to evaluate treatments for post-traumatic stress disorder (PTSD) in active-duty service members and veterans. The trial is funded by the U.S. Department of Defense's (DOD) Defense Health Agency and led by the Warfighter Readiness, Performance, and Brain Health Project Management Office, part of the U.S. Army Medical Materiel Development Activity.

"Our inclusion in this landmark adaptive platform study, funded by the U.S. Department of Defense, allows us to expedite pursuing indications beyond our current work in acute suicidal ideation and behavior in major depressive disorder," said Raj Mehra, Ph.D., Chairman and Chief Executive Officer of Seelos. "We would like to thank the project managers and subcontractors to this study for their tireless effort in moving this program forward. There remains a significant unmet need for a therapeutic designed to effectively treat PTSD and we unfortunately see too many of our active military and veterans suffer after risking their lives to support and defend our great country."

The Department of Defense PTSD Adaptive Platform Trial (NCT05422612) is a Phase II randomized, double-blinded, placebo-controlled study that will evaluate the safety, tolerability, and efficacy of multiple pharmacotherapeutic interventions in active-duty service members and veterans with PTSD. The trial will utilize an adaptive platform trial design randomizing participants among the multiple treatment cohorts selected for inclusion in the study and enable sharing of control participants to increase study efficiency. The design of the trial entails a 30-day screening period, a 12-week treatment period and a 4-week safety follow-up and will collect data to measure changes in PTSD symptom severity, as measured by the Clinician-Administered PTSD Scale-5-Revised (CAPS-5-R) and other clinically relevant endpoints, including the incidence of new or worsening suicidal thoughts or behaviors, as measured by change in the Columbia Suicide Severity Rating Scale (C-SSRS) score. In addition, the trial will evaluate several biomarkers associated with PTSD and assessments of treatment safety and tolerability.

"This study provides an ideal opportunity to study SLS-002 for PTSD," said Tim Whitaker , M.D., Chief Medical Officer of Seelos. "The current approved pharmacologic treatments for PTSD have a number of limitations, and there remains a high unmet medical need. In preparation for inclusion in the study, we conducted additional long-term dosing toxicology studies to support this study, which requires up to 12 weeks of dosing. We look forward to the initiation of this study."

According to the U.S. Department of Veterans Affairs , in 2020, about 13 million Americans had PTSD and 5% of the U.S. population suffers from PTSD in any given year. Active military service members and veterans are more likely to have PTSD (6% for male veterans versus 13% for female veterans) than civilians (6%) and the incidence of PTSD varies by military service era and has increased significantly for veterans of more recent conflicts. The incidence of veterans being diagnosed with PTSD at some point in their lives was 3% for veterans of World War II and the Korean War, 10% for the Vietnam War, 21% for the Persian Gulf War (Desert Storm) and 29% for Operations Iraqi Freedom and Enduring Freedom. Beyond war and combat, PTSD can be caused by exposure to any traumatic experience such as non-military violence or accidents, neglect, physical or sexual abuse, and natural disasters such as wildfires, floods, and earthquakes.

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 Suicide and Crisis Lifeline at 988 or 1-800-273-8255 (TALK).

About SLS-002

SLS-002 is intranasal racemic ketamine with two investigational new drug applications for the treatment of Acute Suicidal Ideation and Behavior in Major Depressive Disorder and in Post-Traumatic Stress Disorder. SLS-002 was originally derived from a Javelin Pharmaceuticals, Inc./Hospira, Inc. program with 16 clinical studies involving approximately 500 subjects. Seelos looks to address an unmet need for a therapy to treat suicidality in the U.S. with SLS-002. 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 2019 in the U.S. alone. Experimental studies suggest ketamine has the potential to be a rapid, effective treatment for refractory depression, suicidality and PTSD.

About USAMMDA

The U.S. Army Medical Materiel Development Activity , part of the U.S. Army Medical Research and Development Command , develops, delivers, and fields critical drugs, vaccines, biologics, devices, and medical support equipment to protect and preserve the lives of Warfighters across the globe. USAMMDA project managers guide the development of medical products for the U.S. Army Medical Department, other U.S. Services, the Joint Staff, the Defense Health Agency, and the U.S. Special Forces community. The process takes promising technology from DoD, industry, and academia to U.S. Forces, from the testing required for U.S. Food and Drug Administration approval or licensing to fielding and sustainment of the finished product.

About Seelos Therapeutics

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington's disease, Alzheimer's disease, and Parkinson's disease.

For more information, please visit our website: https://seelostherapeutics.com , the content of which is not incorporated herein by reference.

Forward Looking Statements

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 the DOD's adaptive platform trial to evaluate potential treatments for PTSD, statements regarding SLS-002's prospects and potential, and statements regarding any potential market opportunity for SLS-002. These statements are based on Seelos' current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Risks associated with Seelos' business and plans described herein include, but are not limited to, the risk of not successfully executing its preclinical and clinical studies, and not gaining marketing approvals for SLS-002 and/or its other product candidates; the risk that prior clinical results may not be replicated in future studies and trials (including the risk that the results from the prior studies of SLS-002 may not be replicated or may be materially different from the results the DOD platform study); 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 Seelos' business strategy; the risks related to raising capital to fund its development plans and ongoing operations; the risks related to Seelos' current stock price; as well as other factors expressed in Seelos' periodic filings with the U.S. Securities and Exchange Commission, including its most recent 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.

The information contained in this press release does not necessarily reflect the position or the policy of the Government and no official endorsement should be inferred.

Contact Information:

Anthony Marciano
Chief Communications Officer
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue, 2 ^nd Floor
New York , NY 10022
(646) 293-2136
anthony.marciano@seelostx.com  
https://seelostherapeutics.com/
https://twitter.com/seelostx
https://www.linkedin.com/company/seelos

Mike Moyer
Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
New York , NY 10019
(617) 308-4306
mmoyer@lifesciadvisors.com

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