The company cautions that statements regarding the future, including the development and potential approval of SP-26, are forward-looking and subject to risks and uncertainties. These statements do not guarantee future performance and are based on current expectations. While the company maintains a strong current ratio of 7.91, indicating solid short-term liquidity, InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis tools to make more informed investment decisions. While the company maintains a strong current ratio of 7.91, indicating solid short-term liquidity, InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis tools to make more informed investment decisions.
The company’s CEO, Eric Weisblum, expressed optimism about the progress of their ketamine implants, which are being designed to provide sustained relief from chronic pain. The safety profile of SP-26 is currently being aligned with FDA requirements for potential at-home therapeutic designation, which could make it the first at-home injectable ketamine-based therapeutic. Despite the stock’s challenging performance, down over 53% in the past six months, InvestingPro analysis suggests the company remains undervalued at its current trading price of $0.90.
Silo Pharma’s SP-26 is a dissolvable polymer implant that releases controlled doses of ketamine to manage chronic pain. If successful in clinical trials, it may be eligible for the FDA’s 505(b)(2) regulatory pathway, which could expedite the drug approval process.
The company is also working on SPC-15, a targeted treatment for stress-induced affective disorders such as PTSD, in collaboration with Kymanox, which serves as Silo’s regulatory partner for this project.
Aside from SP-26 and SPC-15, Silo Pharma is developing other preclinical programs, including SPC-14, an intranasal treatment for Alzheimer’s disease, and SPU-16, a CNS-homing peptide for multiple sclerosis.
Silo Pharma specializes in developing novel formulations and drug delivery systems for various conditions, including psychiatric disorders, chronic pain, and central nervous system diseases. Their research and development efforts are carried out through partnerships with universities and independent laboratories.
The company cautions that statements regarding the future, including the development and potential approval of SP-26, are forward-looking and subject to risks and uncertainties. These statements do not guarantee future performance and are based on current expectations.
This news is based on a recent press release statement from Silo Pharma.
In other recent news, Silo Pharma has reported significant progress in the development of its post-traumatic stress disorder (PTSD) treatment, SPC-15. The company has completed a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA), potentially expediting the clinical process and reducing development costs for the drug. Silo Pharma is now preparing for an Investigational New Drug (IND) submission, a step toward first-in-human clinical trials.
The company has also made strides in various collaborations with Sever Pharma Solutions, WuXi AppTec, and Resyca BV to advance different treatments. Furthermore, Silo Pharma has secured an exclusive global license to develop its Alzheimer’s medication, SPC-14, and the drug candidate SPC-15 for stress-related disorders and PTSD through a licensing deal with Columbia University.
On the financial front, Silo Pharma announced a registered direct offering and concurrent private placement of securities, securing approximately $2.1 million. These funds are anticipated to be used for working capital and general corporate purposes. These developments are part of Silo Pharma’s ongoing commitment to creating novel treatments for various health conditions.
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