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Seelos Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

NEW YORK, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Seelos Therapeutics, Inc. (SEEL), a clinical-stage biopharmaceutical company, announced today that it has granted a stock option to purchase 97,285 shares of common stock to Warren Wasiewski, MD, Seelos’ newly appointed Chief Scientific Officer.  This inducement award was granted pursuant to the Seelos Therapeutics, Inc. 2019 Inducement Plan, approved by the compensation committee of Seelos’ board of directors on July 28, 2019 and granted as an inducement material to Dr. Wasiewski’s employment with Seelos in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price equal to $1.60, the closing price per share of Seelos’ common stock as reported by Nasdaq on August 12, 2019, the date of grant. The option is a non-qualified stock option and 1/4th of the shares vest on the one-year anniversary of Dr. Wasiewski’s commencement of employment and an additional 1/48th of the shares vest monthly thereafter over the next three years, in each case provided that Dr. Wasiewski remains continuously employed by Seelos through the applicable vesting date, inclusive.

Seelos is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

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 disorders. The Company's robust portfolio includes several late-stage clinical assets targeting psychiatric and movement disorders, including orphan diseases. Seelos is based in New York, New York. For more information, please visit our website: http://seelostherapeutics.com, the content of which is not incorporated herein by reference.

Forward-Looking Statements:

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the employees and equity plans. Risks and uncertainties include risks associated with the Company’s employees and equity plans, and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

Contact Information:
Anthony Marciano
Head of Corporate Communications
Seelos Therapeutics, Inc. (SEEL)
300 Park Ave., 12th Fl
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com
www.seelostherapeutics.com
https://twitter.com/seelostx
https://www.linkedin.com/company/seelos