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SARASOTA, FL - Silo Pharma, Inc. (NASDAQ:SILO), a biopharmaceutical company specializing in novel therapeutics with a market capitalization of $5.16 million, today announced the submission of a patent application for SPC-14, a drug aimed at treating Alzheimer’s disease. The company’s stock, currently trading at $1.15, has shown strong momentum with a 29.21% year-to-date return, and according to InvestingPro analysis, appears to be undervalued at current levels. The patent, filed with the U.S. Patent and Trademark Office, covers the drug’s unique approach to targeting specific receptors associated with cognitive and neuropsychiatric symptoms of the disease. InvestingPro data reveals the company maintains impressive gross profit margins of 91.9% and holds more cash than debt, with a healthy current ratio of 4.29, suggesting strong operational efficiency despite its development-stage status.
SPC-14 is designed to interact with the glutamate receptor NDMAR and the serotonin 5-HT4 receptor. Early pre-clinical studies have shown that the drug could potentially improve cognitive memory function by influencing these receptors. According to Silo Pharma’s CEO, Eric Weisblum, the patent application is a strategic move to secure the company’s intellectual property for their drug platforms.
The development of SPC-14 stems from a research agreement with Columbia University, with Silo Pharma holding an exclusive global license to further develop, manufacture, and commercialize the drug. The company focuses on central nervous system diseases, psychiatric disorders, and chronic pain, conducting research in collaboration with universities and laboratories. For deeper insights into Silo Pharma’s financial health and growth potential, InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive financial metrics.
While the press release includes forward-looking statements regarding the potential of SPC-14 and Silo Pharma’s expectations for its development and commercialization, these statements are subject to various risks and uncertainties that could affect the company’s actual results.
The information presented in this article is based on a press release statement from Silo Pharma, Inc.
In other recent news, Silo Pharma has made several notable announcements that could interest investors. The company has initiated a crucial toxicology and toxicokinetics study for its PTSD treatment candidate, SPC-15, which is a necessary step toward first-in-human clinical trials. This development aligns with the FDA’s 505(b)(2) regulatory pathway, potentially expediting the approval process. Silo Pharma has also secured a patent for a new pharmacological agent aimed at preventing stress-induced affective disorders in females, marking a significant step forward in mental health treatment. This patent was granted by the United States Patent and Trademark Office, following an exclusive licensing agreement with Columbia University. Additionally, the company reported positive early data from a study on its SP-26 ketamine extended-release rods for chronic pain and fibromyalgia treatment. The initial phase of this study showed no serious side effects, and the research is ongoing to evaluate the implant’s safety and pharmacokinetics. Silo Pharma’s CEO, Eric Weisblum, expressed optimism about these developments, although the company cautions that actual results may differ from projections.
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