Seelos Therapeutics Inc (SEELQ)

[Dimitrios George]

Cosmo, there were a number of potential prescription and over-the-counter drugs using DDAIP that were put on the back burner for a variety of reasons, even before Damaj left in November 2012. Lack of cash to pursue a number of these possibilities was probably the biggest factor, and that is pretty common among micro-biotechs. Lack of sufficient interest by potential partners was also likely a factor.

After Damaj had experimented with acquisition and marketing of oncology-assist drugs and then resigned, the board of directors took everything, other than Vitaros and Femprox, off the back burner and put them into the cupboard...in the basement.

This last fall, the company announced that it was once again broadening its focus. RayVa is the first to be put back on a hot burner. Again, cash is likely going to be an issue beyond a relatively inexpensive Phase II study.