![]() ![]() The two Wall Street analysts that rated SEEL have rated it Buy. The stock has declined 4.1% in price over the past five days and 1.5% intraday to close yesterday’s trading session at $0.88. The consensus EPS estimate for the quarter ending March 2022 indicates a 35.7% year-over-year increase. The company’s cash balance came in at $78.73 million, registering an increase of 402.7% from the prior year. This development might benefit the company.įor its fiscal year ended December 31, SEEL’s net cash provided by financing activities increased 325.9% year-over-year to $112.07 million. On December 6, SEEL announced that it had received an issued patent from the Japanese Patent Office covering the composition of matter for SLS-007, a potentially disease-modifying gene therapy focused on Parkinson’s disease (PD). Raj Mehra Ph.D., Chairman and CEO of SEEL, said, “We expect to gain evidence and important insights into the suitability of SLS-005 in the treatment of these neurological conditions, which are so physically, emotionally, and financially devastating to patients and their families.” On March 8, SEEL announced that the Australian Government Department of Health’s Therapeutic Goods Administration (TGA) had granted an acknowledgment letter of a Clinical Trial Notification (CTN) for a pilot study of SLS-005 in the treatment of patients with Alzheimer’s disease. SEEL in New York City operates as a clinical-stage biopharmaceutical company focused on developing and commercializing therapeutics used to treat the central nervous system, respiratory, and other disorders. Hence, we think these names might be reasonable additions to one’s watchlist.Ĭlick here to checkout our Healthcare Sector Report for 2022 ( SEEL ) to skyrocket in price in the near term. The global psychedelic drugs market is forecasted to reach $8.02 billion by 2029, growing at a 13.3% CAGR.Īgainst this backdrop, Wall Street analysts expect the psychedelics stocks Cybin Inc. The capital raised is expected to give the companies in the field the funds to continue drug development. In addition, a CB Insights market research report has shown that psychedelic medicine funding was set to cross $700 million in 2021, which is close to double the 2020 level and about eight times 2019 funding. Over the past two decades, research in the area has increased, with a magic mushroom ingredient-psilocybin-showing promise for treating a range of mental health disorders and addictions. Psychedelics-psychotropic drugs that trigger altered states of consciousness-are gaining widespread attention. ![]()
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