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ARTICLE | Company News

CNS company Seelos reverse merging with Apricus

August 31, 2018 5:37 PM UTC

Seelos Therapeutics Inc. (New York, N.Y.) will reverse-merge with Apricus Biosciences Inc. (NASDAQ:APRI). Seelos shareholders are expected to own about 86% of the merged company. Apricus shareholders are expected to own the remaining 14%, and will receive a Contingent Value Right (CVR) tied to proceeds from an out-licensing or sale of erectile dysfunction (ED) drug Vitaros alprostadil.

Seelos' pipeline includes two compounds that have completed Phase II testing: SLS-002, an intranasal racemic ketamine in development to treat post-traumatic stress disorder (PTSD) and major depressive disorder (MDD); and SLS-006, a small molecule partial agonist of the dopamine D2 receptor (DRD2) in development to treat Parkinson's disease (PD)...