Silo Pharma Inc Stock Price, News & Analysis

Silo Pharma, a biopharmaceutical company focusing on psychedelic research, announced that James Kuo, M.D., will present at the 3rd Annual Psychedelic Therapeutics and Drug Development Conference on May 15-16, 2023, in Burlingame, CA. Dr. Kuo's presentation, titled ‘The Ketamine Endgame,’ will explore the potential of ketamine for treating conditions like treatment-resistant depression, anxiety, and pain. Three of the company's drug candidates utilize ketamine: SP-26 for fibromyalgia, SPC-14 for Alzheimer's-related dementia, and SPC-15 for stress and PTSD. The conference aims to discuss challenges and advancements in psychedelic research for various health conditions including depression, PTSD, and pain management.

Silo Pharma (Nasdaq:SILO) has announced the development of SPC-15, a novel drug formulation targeting stress, anxiety, and PTSD. This initiative is part of a research agreement with Columbia University and aims to explore dose strengths and delivery methods for this potential treatment. Current research suggests that SPC-15 could effectively address cognitive impairment and other stress-related disorders. The drug's development aligns with alarming statistics: over 300 million people globally suffer from anxiety disorders, while approximately 12 million U.S. adults experience PTSD. The market for anxiety and depression treatments is projected to reach $13 billion by 2027. Additionally, Silo Pharma has secured a U.S. patent for SPC-15 as a treatment method for stress-induced disorders in females.

Silo Pharma (Nasdaq: SILO) announced the filing of a provisional patent for SP-26, aimed at pain management, targeting chronic pain conditions like fibromyalgia. This condition affects about 2% of the U.S. population and is characterized by widespread pain and cognitive issues. The patent application aligns with Silo's strategy to advance SP-26 towards an IND submission to the FDA, pursuing a 505(b)(2) regulatory pathway. The company holds several patents related to treatments for rare diseases and aims to address significant unmet needs in chronic pain therapy.

Silo Pharma, Inc. (Nasdaq: SILO) announced positive results from its toxicology study of SP-26, a novel time-released ketamine formulation. Conducted in collaboration with Experimur, the study employed a maximum feasibility dosing regimen in mini pigs, conforming to FDA standards. CEO Eric Weisblum emphasized that these outcomes are crucial for advancing toward human trials. The company plans to submit a Pre-Investigational New Drug (IND) package and pursue the FDA's 505(b)(2) regulatory pathway for drug approval. This marks a significant step for Silo in its mission to combine traditional therapeutics with psychedelic research for neurological disorders.

Silo Pharma has filed a provisional patent application for its novel homing peptides aimed at treating Alzheimer's disease and dementia. The company, devoted to merging traditional therapeutics with psychedelic research, emphasizes the need for effective treatment options for Alzheimer's, which involves significant cognitive decline and social deterioration. CEO Eric Weisblum highlighted hopes that targeted delivery of a therapeutic agent could enhance treatment outcomes. Silo Pharma is also exploring further applications of its CNS homing peptides alongside other preclinical studies.

Silo Pharma (Nasdaq: SILO) has received a U.S. Patent (11,491,120) for its drug SPC-15, aimed at treating and preventing stress-induced affective disorders such as anxiety and PTSD. This patent enhances the protection for their innovative treatment method, which utilizes ketamine compositions tailored for these disorders. The company has a commercial evaluation license agreement with Columbia University to potentially license related research assets, including treatments for Alzheimer’s disease. CEO Eric Weisblum emphasized the market potential and scope of the patent, further expanding Silo Pharma's intellectual property portfolio.

Silo Pharma, a developmental stage biopharmaceutical company, announced a share repurchase program authorized by its board to acquire up to $1,000,000 of its common stock. This program aims to enhance shareholder value amid favorable capital market conditions. As of November 10, 2022, the company had approximately 3,138,797 shares outstanding. The company may repurchase shares in the open market or via private transactions, contingent on market conditions and available liquidity. CEO Eric Weisblum emphasized the commitment to delivering value to shareholders through this initiative.

Silo Pharma (Nasdaq: SILO) announced a progress update on its clinical study at UCSF, which examines psilocybin as a treatment for conditions including Parkinson's disease, bipolar disorder, and chronic pain. The study involves therapy sessions with psilocybin and blood sample collection to analyze inflammatory activity. Data collection for Parkinson's patients is set to finish by February 2023, while bipolar and chronic pain studies are scheduled to commence in early and April 2023, respectively. The findings aim to shed light on psilocybin's therapeutic potential.

Silo Pharma has announced promising interim results from its study on SPU-21, a joint homing peptide aimed at treating rheumatoid arthritis. The latest phase demonstrated that the combination of SPU-21 with dexamethasone (DEX) showed superior effectiveness in controlling arthritis progression compared to DEX alone. This administration method is more preferred by patients, which could enhance market potential. The company is collaborating with the University of Maryland, Baltimore for further development.