Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company, announced today that it has closed its previously announced registered direct offering to certain institutional investors of 8,865,000 shares of common stock at a price of $0.79 per share. The Company also closed its previously announced concurrent private placement to the investors of unregistered warrants to purchase up to 6,648,750 shares of common stock. The warrants have an exercise price of $0.84 per share of common stock, will be exercisable six months from the date of issuance and will expire five years following the initial date of exercise.

After deducting the placement agent's fees and offering expenses, the Company received net proceeds of approximately $6.2 million. Seelos intends to use the net proceeds from the offering for general corporate purposes and to advance the development of its product candidates.

Roth Capital Partners acted as the sole placement agent for the offering.

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.