Intel stock extends gains after report of possible U.S. government stake
SARASOTA, FL - Silo Pharma , Inc. (NASDAQ:SILO), a $6.91 million market cap biopharmaceutical company currently trading at $1.54 per share, has announced promising preliminary results from a study on its SP-26 ketamine extended-release rods for chronic pain and fibromyalgia treatment. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics, with the shares having gained 73% year-to-date. The initial phase of the study, involving small animal testing, reported no serious side effects or discomfort following the implantation of SP-26 in early January 2025.
The ongoing research aims to evaluate the pharmacokinetics, safety, and tolerability of the SP-26 implant, which is self-administered and designed as a non-opioid therapeutic alternative. With implantation completed in the first week of January, the study is now in the ADME (absorption, distribution, metabolism, and excretion) testing phase, with comprehensive safety and pharmacokinetic reports expected by March 2025. The company maintains strong liquidity with a current ratio of 7.91, providing financial flexibility to advance its research programs.
Eric Weisblum, CEO of Silo Pharma, expressed optimism about the early data, stating that the absence of abnormal clinical observations thus far could lead to actionable data for advancing SP-26 as a potential chronic pain treatment.
SP-26 is a dissolvable polymer implant that releases ketamine subcutaneously to manage pain. If successful in clinical trials, SP-26 might be eligible for the FDA’s 505(b)(2) regulatory pathway, which could streamline the drug approval process.
Silo Pharma focuses on developing treatments for psychiatric disorders, chronic pain, and central nervous system diseases, collaborating with universities and laboratories to advance its portfolio, which includes programs for PTSD, fibromyalgia, Alzheimer’s disease, and multiple sclerosis.
This news is based on a press release statement and the final results of the study will determine the future development of SP-26. The company cautions that forward-looking statements involve risks and uncertainties, and there is no assurance that the expectations will be confirmed.
In other recent news, Silo Pharma has made significant strides in its development of therapies for mental health and chronic pain management. The biopharmaceutical company has filed a provisional patent application for its lead asset, SPC-15, a treatment for post-traumatic stress disorder (PTSD) and stress-induced psychiatric disorders. The patent application targets specific receptors to potentially extend the behavioral effects against certain stress-induced behaviors.
In addition, Silo Pharma has received a Notice of Allowance from the U.S. Patent and Trademark Office for its pharmacological treatment aimed at preventing stress-induced affective disorders in women, further bolstering the protection for SPC-15. The company, in partnership with Columbia University, is preparing for preclinical studies for SPC-15 and also for SP-26, a potential treatment for fibromyalgia and chronic pain.
Silo Pharma also recently announced it has completed a pre-IND meeting with the FDA for SPC-15 and expects to submit an investigational new drug application in 2025. Simultaneously, the company is preparing for early 2025 animal studies for its SP-26 ketamine implants, designed to provide sustained relief for chronic pain and fibromyalgia.
These recent developments reflect Silo Pharma’s commitment to addressing unmet medical needs and advancing its key products. The company’s efforts are bolstered by a strong balance sheet and minimal debt, positioning it to continue its research and development efforts.
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