After ALS trial misses mark, Seelos has filed for bankruptcy

After Seelos Therapeutics’ amyotrophic lateral sclerosis (ALS) candidate failed a phase 2/3 study, the biotech has filed for bankruptcy.

The New York-based company’s chapter 11 bankruptcy was voluntarily filed Nov. 15, according to Nov. 22 Securities and Exchange Commission (SEC) documents. Seelos will continue to operate under the jurisdiction of the bankruptcy court and has 120 days to come up with a reorganization plan.