Welcome to our dedicated page for Silo Pharma news (Ticker: SILO), a resource for investors and traders seeking the latest updates and insights on Silo Pharma stock.
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 announced the successful production of its SP-26 ketamine implant designed for fibromyalgia and chronic pain. Analytical testing confirmed optimal formulation, with pre-clinical research ongoing. Small batch proof-of-concept extrusion trials for 20% and 40% ketamine hydrochloride loads showed validation in structural stability and integrity. Manufacturing studies using three bioresorbable polymers revealed positive data for inherent viscosity, blend uniformity, and dissolution, meeting FDA guidelines. CEO Eric Weisblum stated that these findings bring Silo closer to future pre-clinical testing models, highlighting the implant's promising structural stability and functionality.
Silo Pharma, a developmental stage biopharmaceutical company, announced the closing of its $2 million registered direct offering priced at-the-market under Nasdaq rules. The offering included 917,432 shares of common stock at $2.18 per share. Concurrently, Silo issued unregistered warrants to purchase up to 917,432 shares at $2.06 per share. These warrants are immediately exercisable and will expire in five years. H.C. Wainwright & Co. acted as the exclusive placement agent. Gross proceeds were approximately $2 million before fees and expenses. The net proceeds will be used for working capital and general corporate purposes.
Silo Pharma (Nasdaq: SILO), a developmental stage biopharmaceutical company, announced a $2 million registered direct offering of 917,432 shares of common stock at $2.18 per share, set to close on June 6, 2024. Concurrently, the company will issue unregistered warrants to purchase 917,432 shares of common stock at an exercise price of $2.06 per share. H.C. Wainwright & Co. acts as the exclusive placement agent. The proceeds will support working capital and corporate purposes. The offering is under a 'shelf' registration statement on Form S-3 effective since January 30, 2024. The warrants and underlying shares remain unregistered under the Securities Act of 1933.
Silo Pharma has submitted a pre-Investigational New Drug (pre-IND) application to the FDA for SPC-15, its intranasal treatment for PTSD and anxiety. The application seeks guidance for initiating first-in-human trials. Preclinical studies show positive results, with effective intranasal delivery in animal models. Silo expects to finalize an exclusive license agreement with Columbia University for SPC-15 by mid-2024. The company plans further studies in 2024, essential for future IND submission. SPC-15 aims to enhance stress resilience, differing from existing PTSD treatments that mainly address depressive symptoms.
Silo Pharma announced promising results from a study on depression treatment and relapse prevention. This study, in collaboration with Columbia University, identified a new drug formulation that significantly improves mood stability without common side effects of current antidepressants. CEO Eric Weisblum emphasized the potential impact on millions suffering from depression. Additionally, Silo is advancing its SPC-15 program for PTSD, with plans to submit a pre-IND to the FDA. The company is finalizing an exclusive license agreement to develop and commercialize SPC-15 globally, expected to complete in the first half of 2024.
Silo Pharma, a developmental stage biopharmaceutical company, will attend a hybrid public meeting hosted by the FDA and Reagan-Udall Foundation on June 27, 2024. The event, titled “Understanding Current Use of Ketamine for Emerging Areas of Therapeutic Interest,” will discuss ketamine's use for treating depression and chronic pain. CEO Eric Weisblum, along with a scientific advisor, will represent Silo Pharma. The company's lead program, SPC-15, is an intranasal treatment for PTSD and anxiety, licensed exclusively from Columbia University. Additionally, Silo is developing SP-26, a ketamine-based dissolvable implant for chronic pain and fibromyalgia.
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