The US Patent and Trademark Office issued a Notice of Allowance for the drug, which treats the hereditary neuromuscular disease Friedreich Ataxia.
The disease affects the nervous system, causing balance issues, spinal deformities and cardiovascular difficulty. It affects about one in 50,000 people worldwide.
SLS-005 already has orphan indication from the Food and Drug Administration for Spinocerebellar Ataxia, a related degenerative nervous system disease, and the company is developing the drug as a treatment for Sanfilippo syndrome.
Seelos Therapeutics is a New York-based company focused on developing treatments for central nervous system and other rare disorders. Its shares increased 0.5% Tuesday afternoon to $2.16.
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