Biotech Values

[DewDiligence]

APRI reverse-merges into Seelos Therapeutics (SEEL):

https://globenewswire.com/news-release/2018/07/30/1543853/0/en/Apricus-Biosciences-Inc-Announces-Merger-Agreement-with-Seelos-Therapeutics-Inc-to-Advance-Late-Stage-Pipeline-of-Products-for-Central-Nervous-System-CNS-Disorders.html

Apricus Biosciences, Inc. announced the signing of a definitive agreement to merge with Seelos Therapeutics, Inc., a privately-held biotechnology company, in an all-stock transaction. The merged company will focus on the development and commercialization of central nervous system (CNS) therapeutics with known mechanisms of action in areas with a highly unmet medical need.

Upon completion of the proposed merger, the name of the merged company will be Seelos Therapeutics, Inc., and the company is expected to begin trading on the Nasdaq Capital Market under the ticker symbol “SEEL.”

…On a pro forma and fully-diluted basis, Seelos shareholders are expected to own approximately 86% of the merged company and current Apricus shareholders are expected to own approximately 14% of the merged company…