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SARASOTA, FL - Silo Pharma, Inc. (NASDAQ:SILO), a biopharmaceutical company with a market capitalization of $3.63 million and impressive gross profit margins of 91.9%, announced positive outcomes from a preclinical study of SP-26, its extended-release ketamine implant for fibromyalgia treatment. The study met all endpoints, including survival and safety measures, suggesting SP-26’s potential as a long-acting and tolerable therapy.
The research, conducted on minipigs, assessed the pharmacokinetics and safety of SP-26 when administered subcutaneously. The implant aims to deliver ketamine at a controlled rate, minimizing dissociative effects and offering an alternative to opioid treatments. With no implant-related adverse events reported, the study supports Silo’s move toward clinical trials and broadens its pipeline for chronic pain and mental health conditions. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 4.29, indicating strong ability to fund its research programs.
The implant demonstrated sustained drug release, with peak plasma levels reached within an hour and maintained for up to 22 days. Minimal tissue reaction was noted at implant sites, with mild chronic inflammation observed.
Eric Weisblum, CEO of Silo Pharma, expressed confidence in SP-26’s safety profile and its alignment with FDA requirements for potential at-home therapeutic designation. If approved, SP-26 could be the first at-home injectable ketamine-based therapeutic. While the stock has experienced a significant decline of over 55% in the past year and currently trades near its 52-week low of $0.77, InvestingPro analysis suggests the stock may be undervalued at current levels. Discover 12 additional exclusive insights about SILO with an InvestingPro subscription.
SP-26 is a dissolvable polymer implant designed to regulate dosage and time release of ketamine for chronic pain and fibromyalgia. Success in clinical trials could lead to qualification for the FDA’s 505(b)(2) regulatory pathway for expedited drug approval.
Silo Pharma focuses on developing treatments for psychiatric disorders, chronic pain, and CNS diseases, working in collaboration with universities and laboratories. Its portfolio includes programs targeting PTSD, fibromyalgia, Alzheimer’s disease, and multiple sclerosis. For investors interested in emerging biotech opportunities, InvestingPro offers comprehensive financial analysis and valuation tools to evaluate companies like Silo Pharma that are positioning themselves in specialized therapeutic areas.
The information in this article is based on a press release statement from Silo Pharma, Inc. and presents the facts without endorsing any claims.
In other recent news, Silo Pharma has made several notable advancements in its drug development efforts. The company has filed a patent application for SPC-14, a drug targeting Alzheimer’s disease, with the U.S. Patent and Trademark Office. This patent aims to protect the drug’s unique mechanism involving the glutamate receptor NDMAR and the serotonin 5-HT4 receptor. Additionally, Silo Pharma has initiated a crucial study for its PTSD treatment candidate, SPC-15, which is part of the regulatory process to advance toward first-in-human clinical trials. The company has also secured a patent for a pharmacological agent designed to prevent stress-induced affective disorders in females. Furthermore, early data from a study on SP-26, a ketamine extended-release implant for chronic pain and fibromyalgia, shows promising results with no serious side effects reported in initial testing. These developments underscore Silo Pharma’s ongoing efforts in research and development, with collaborations and exclusive global licenses in place for further progress.
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