Silo Pharma develops novel therapeutics and drug-delivery systems for stress-induced psychiatric disorders, chronic pain and central nervous system diseases, while also disclosing activity in cryptocurrency treasury and AI infrastructure initiatives. Company news frequently centers on SPC-15, an intranasal serotonin 5-HT4 receptor agonist program for PTSD and anxiety, as well as other pipeline work involving psychedelic-derived and traditional therapeutic approaches.
Recurring updates include patent allowances and applications in key jurisdictions, FDA and federal-policy context for psychedelic medicines, clinical-development planning, and new CNS discovery initiatives such as ibogaine-based approaches for traumatic brain injury. Corporate news also covers common-stock repurchase authorization, equity-financed asset purchases, the QwikAgents AI-agent platform, and cryptocurrency-related software assets.
Silo Pharma (SILO) announced promising proof-of-concept data for SPC-14, a new treatment aimed at Alzheimer's disease, showing increased memory function in mouse models. Conducted in collaboration with Columbia University, the study revealed that chronic dosing of SPC-14, which combines an FDA-approved drug with ketamine, did not negatively impact the subjects' weight. The company aims to leverage existing safety data to expedite the drug's FDA approval process, potentially utilizing the 505(b)(2) pathway.
Silo Pharma (NASDAQ: SILO) has announced an extended agreement with Columbia University to continue research on SPC-14 for Alzheimer's disease and SPC-15 for stress-induced anxiety disorders. This partnership focuses on the molecular mechanisms of learning and memory, critical to treatments for Alzheimer’s, which affects an estimated 5.8 million Americans. Dr. Christine Ann Denny leads the research, exploring potential memory improvement through ketamine and other novel therapies. The company plans to share ongoing research results as they become available.
Silo Pharma has initiated a preclinical toxicity study of its new ketamine formulation, SP-26, targeting fibromyalgia treatment. This time-released ketamine has shown promising results in alleviating neuropathic nerve pain. The study aims to determine the tolerability of SP-26 in mini pigs, with results expected in Q1 2023. The company is also preparing an FDA Pre-Investigational New Drug application, pursuing a 505(b)(2) regulatory pathway for SP-26. The collaboration with Zylö Therapeutics focuses on utilizing Z-pod™ technology for effective ketamine delivery.
Silo Pharma, Inc. (Nasdaq: SILO) will present at the 7th Annual Dawson James Small Cap Growth Conference on October 12, 2022, in Jupiter, Florida. CEO Eric Weisblum will discuss the company's novel therapeutic candidates, emphasizing its collaboration with renowned academic institutions. The presentation will cover Silo's innovative approach in merging traditional therapeutics with psychedelic research, targeting conditions like Alzheimer’s, multiple sclerosis, and mental health disorders. A live webcast will be available, along with a replay for 90 days on the company’s investors site.
Silo Pharma (Nasdaq: SILO) is advancing its novel topical formulation of ketamine, designated as SPC-26, to treat fibromyalgia. The company is collaborating with Premier Consulting to develop a pre-Investigational New Drug (IND) package and engage with the FDA via a pre-IND meeting request. The fibromyalgia treatment market is projected to grow significantly, reaching $1.4 billion by 2027. CEO Eric Weisblum expressed confidence in their pre-clinical work supporting the path to clinical trials, aiming to utilize Zylö Therapeutics' Z-pod™ technology for time-released ketamine delivery.
Silo Pharma (Nasdaq: SILO) has successfully closed an underwritten public offering of 1,150,000 shares of common stock at $5.00 per share, raising gross proceeds of $5.75 million. This offering includes the exercise of an over-allotment option for 150,000 additional shares. The funds will be primarily used for product development, marketing, and working capital, with a potential portion allocated for acquisitions. The company began trading on the Nasdaq on September 27, 2022.
Silo Pharma announced its common stock will commence trading on Nasdaq under the symbol SILO on September 27, 2022. The company has priced an underwritten public offering of 1,000,000 shares at $5.00 per share, aiming to raise $5 million before expenses. Proceeds will fund product development, marketing, and working capital, with potential use for acquiring complementary businesses. The transaction is expected to close by September 29, 2022. Laidlaw & Company is the sole book-running manager for this offering.
Silo Pharma, Inc. (OTCQB: SILO) announced a 1-for-50 reverse stock split effective September 15, 2022. This action is part of the company's strategy to qualify for listing on The Nasdaq Capital Market. Following the reverse split, approximately 1,987,906 shares will be outstanding. The reverse stock split aims to help Silo Pharma meet the minimum share price requirement for Nasdaq. The temporary trading symbol will change to "SILOD" until the Nasdaq listing is finalized.
Silo Pharma, Inc. (OTCQB: SILO) announced positive results from an animal study demonstrating its topical Ketamine formulation's effectiveness in reducing neuropathic nerve pain. The study showed a significant reduction in both allodynia and hyperalgesia using its patented delivery system in partnership with Zylo Therapeutics. Notably, day seven and day nine evaluations showed no erythema or swelling, indicating a favorable safety profile, which is promising for upcoming toxicology studies. CEO Eric Weisblum emphasized the potential benefits for patients with Fibromyalgia and Rheumatoid Arthritis.
Silo Pharma, Inc. (OTCQB: SILO) announced positive results from animal studies demonstrating the effectiveness and reduced toxicity of its novel liposomes using a subcutaneous delivery method for anti-arthritic agents. CEO Eric Weisblum stated that this method is well-suited for targeted drug delivery, enhancing efficacy and minimizing systemic toxicity. Previous studies with intravenous injections showed promising results, and the new findings indicate that subcutaneous administration is comparable in performance, with potential for even greater effectiveness.