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, Inc. (Nasdaq: SILO) regularly issues news updates that reflect its dual identity as a developmental-stage biopharmaceutical company and a cryptocurrency treasury company. Its press releases highlight progress in drug development for stress-induced psychiatric disorders, chronic pain, and central nervous system diseases, alongside announcements about its evolving digital assets treasury strategy.
On the biopharmaceutical side, Silo’s news flow centers on SPC-15, an investigational intranasal serotonin 5-HT4 receptor agonist being developed for PTSD and stress-induced anxiety. Recent releases describe IND-enabling toxicology and toxicokinetic work, large animal safety studies, drug-device evaluations of a soft mist nasal spray system, and plans for Phase 1 single ascending dose and multiple ascending dose studies. The company also reports on regulatory strategy, including its intention to pursue the FDA’s 505(b)(2) pathway, and on collaborations with organizations such as Allucent and Columbia University.
News items also cover Silo’s broader pipeline, including SP-26 for fibromyalgia and chronic pain and preclinical assets targeting Alzheimer’s disease and multiple sclerosis. Investors following SILO news can expect updates on preclinical data, clinical trial preparations, intellectual property expansion, and strategic academic and CRO partnerships.
In parallel, Silo’s releases describe the launch and build-out of its digital assets treasury. Announcements detail initial purchases of Bitcoin, Ethereum, Solana, and ResearchCoin, the establishment of a Crypto Advisory Board, engagement of Fireblocks for institutional-grade custody and infrastructure, and allocation to the Alphaledger T12 Fund for tokenized real-world asset exposure on the Solana blockchain. Additional disclosures include software and domain acquisitions related to crypto applications and updates on treasury diversification objectives.
Visitors to the SILO news page can use this stream of company-issued information to track clinical milestones, regulatory steps, capital markets activity, and digital asset strategy developments over time.
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.
Silo Pharma, Inc. (Nasdaq: SILO) released a shareholder letter detailing significant progress in its biopharmaceutical development, particularly in psychedelic research. The company reported having over $12 million in cash and no debt, positioning it to advance its pipeline projects. It highlighted multiple therapeutic candidates targeting conditions like fibromyalgia, multiple sclerosis, rheumatoid arthritis, and Alzheimer's disease. Furthermore, the burgeoning psychedelic drugs market is projected to grow from $2.8 billion in 2021 to $9.8 billion by 2029, emphasizing the potential of its unique technologies.
Silo Pharma, Inc. (Nasdaq: SILO) has initiated the initial dosing of its IND-enabling study for SP-26, a new time-released, topical ketamine formulation aimed at treating fibromyalgia. Conducted by Experimur, the study evaluates the tolerability of SP-26 to determine the maximum tolerated dose. With a market for fibromyalgia treatments projected to grow from $764 million in 2020 to $1.4 billion by 2027, this development could position Silo favorably. The company is also preparing a pre-IND submission to the FDA to pursue the 505(b)(2) regulatory pathway.
Silo Pharma, Inc. (Nasdaq: SILO) announced that Dr. James Kuo, VP of R&D, will participate as a panelist at the Wonderland: Miami conference, the largest event in the psychedelic medicine sector, from November 3-5, 2022. Dr. Kuo will discuss the pharmaceutical industry's evolving view on psychedelics and their potential for mental health drug development. The company's efforts focus on psychedelics for treating major diseases like Alzheimer’s and multiple sclerosis, aiming to raise awareness about its therapeutic advancements.
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