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.
Overview
Silo Pharma Inc. is a developmental stage biopharmaceutical company that develops innovative therapeutics by merging traditional formulations with advanced psychedelic research. The company is dedicated to addressing underserved conditions including stress-induced psychiatric disorders, chronic pain, and central nervous system (CNS) diseases. Through its unique approach, Silo Pharma focuses on both traditional and psychedelic treatment modalities to provide novel solutions where unmet medical needs persist.
Therapeutic Programs and Drug Delivery Systems
Silo Pharma is actively progressing a broad portfolio of therapeutic programs, each aimed at targeting specific medical indications:
- SPC-15: An intranasal serotonin 5-HT4 receptor agonist designed for treating post-traumatic stress disorder (PTSD) and stress-induced anxiety disorders. Leveraging biomarker-driven research, SPC-15 utilizes a non-invasive delivery method for rapid therapeutic onset.
- SP-26: A ketamine-based, time-release polymer implant developed to manage chronic pain conditions such as fibromyalgia. This innovative implant is designed to provide consistent, dosage-controlled pain relief through a minimally invasive subcutaneous procedure.
- Additional programs include preclinical assets targeting CNS disorders such as Alzheimer’s disease and multiple sclerosis, which further underscore the company’s comprehensive approach to neurological challenges.
Research Collaborations and Intellectual Property
Silo Pharma conducts its research and development through strategic collaborations with world-class medical research partners and universities. By partnering with renowned institutions, the company ensures robust scientific validation and leverages cutting-edge research in its clinical development pathways. An important component of its business model is a focused intellectual property strategy that reinforces patent protection for its lead assets, thereby safeguarding its innovations in drug delivery and therapeutic formulations.
Innovation in Drug Formulations and Delivery
At the core of Silo Pharma's strategy is the development of novel drug delivery systems. Its innovative approach encompasses:
- The use of intranasal formulations which provide a convenient and rapid therapeutic option for stress-related disorders.
- Advanced polymer-based implants ensuring sustained and controlled drug release, which is critical for chronic conditions such as fibromyalgia.
- Exploration of dual-action pharmacological approaches combining different receptor targets to enhance therapeutic efficacy without compromising safety.
Market Position and Operational Philosophy
Although Silo Pharma operates at a developmental stage, its scientifically rigorous and research-driven approach places it strategically within the biopharmaceutical industry. The company prioritizes collaborations with leading research institutions and maintains a strong emphasis on ensuring that its technologies meet regulatory safety profiles. This methodical progression from preclinical research through to clinical evaluation highlights its commitment to developing treatments that have the potential to transform patient care in areas with limited therapeutic options.
Commitment to Research Excellence
Silo Pharma is anchored on principles of expertise, authoritativeness, and trustworthiness. Its research is designed to resolve significant medical challenges with precise, mechanism-based therapies. By continuously enhancing its array of novel formulations and robust drug delivery systems, the company exemplifies a balanced approach, integrating rigorous scientific research with practical therapeutic solutions.
Silo Pharma (Nasdaq: SILO), a biopharmaceutical company, has partnered with AmplifyBio to conduct a GLP study for SPC-15, an intranasal treatment for PTSD and anxiety. This study aims to evaluate the safety and efficacy of SPC-15 over a 28-day period, following positive results from earlier non-GLP studies. The company's goal is to secure FDA approval for first-in-human trials. If successful, this will mark a significant milestone for Silo Pharma's development strategy.
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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