Why Seelos Therapeutics' Stock Is Trading Lower Today

Seelos Therapeutics SEEL shares are trading lower on Friday after the company announced an 8.865 million shares common stock offering at 79 cents per share.

Seelos Therapeutics is engaged in the pharmaceutical industry. The company's pipeline products include SLS-002 which is intranasal racemic ketamine for patients with suicidality in post-traumatic stress disorder and depressive disorder; SLS-006 which is a small molecule, partial dopamine agonist for Parkinson's Disease; and SLS-005 is Trehalose, a protein stabilizer.

Seelos Therapeutics shares were trading down 22.43% at 65 cents at the time of publication on Friday. The stock has a 52-week high of $1.70 and a 52-week low of 42 cents.