Silo Pharma secures license for Alzheimer's drug development

SARASOTA, FL - Silo Pharma, Inc. (NASDAQ:SILO), a biopharmaceutical company, has announced an exclusive global license agreement to develop and possibly bring to market its Alzheimer's medication, SPC-14. The company aims to leverage the FDA's 505(b)(2) regulatory pathway, which could expedite the drug's clinical testing and reduce development costs.

SPC-14, a novel therapeutic, targets specific receptors to treat cognitive and neuropsychiatric symptoms associated with Alzheimer's disease. Recent preclinical trials in small animals suggested that the drug might alleviate certain stress-related behaviors and anxiety, a potential breakthrough for Alzheimer's treatment.

Eric Weisblum, CEO of Silo Pharma, expressed optimism about SPC-14's potential to address a significant unmet need in Alzheimer's care. "If approved, we believe SPC-14 could bring hope and relief for many families and patients," Weisblum stated.

The Alzheimer's disease therapeutics market is projected to grow substantially, with expectations to surpass $30.8 billion by 2033, propelled by an aging population and advances in neurological research.

The information in this article is based on a press release statement from Silo Pharma.

In other recent news, Silo Pharma has secured exclusive rights to develop and market the drug candidate SPC-15 for stress-related disorders and PTSD through a licensing deal with Columbia University. The company has also amended its Master License Agreement with the University of Maryland, demonstrating ongoing commitment to the terms of the agreement.

Furthermore, Silo Pharma has initiated a pivotal Good Laboratory Practice study for its SPC-15 intranasal therapeutic for PTSD, marking a significant step towards human clinical trials.

In financial developments, Silo Pharma has announced a registered direct offering and concurrent private placement of securities, aiming to raise approximately $2 million. These funds are projected to be used for working capital and general corporate purposes. The company has also reported promising results from a study on a new drug formulation for depression treatment, potentially improving mood stability and extending remission periods for patients.

Silo Pharma is making strides in the development of its SP-26 ketamine implant for chronic pain, with preclinical research showing promising results.

These are the recent developments in the company's ongoing commitment to creating novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments.

InvestingPro Insights

In the wake of Silo Pharma's announcement regarding the development of their Alzheimer's medication, SPC-14, investors may be keen to understand the financial health and market sentiment surrounding the company. According to InvestingPro data, Silo Pharma holds a market capitalization of 3.94 million USD, which reflects its size in the biopharmaceutical industry. Despite the potential of SPC-14, the company has not been profitable over the last twelve months, as evidenced by a negative P/E ratio of -0.99 and an adjusted P/E ratio for the last twelve months as of Q1 2024 of -1.12.

However, the company's gross profit margin stands at an impressive 91.9% for the same period, indicating a strong ability to manage production costs relative to sales. This financial metric is particularly relevant considering the company's ongoing development projects and could signal efficient resource allocation in its R&D processes.

From an investment standpoint, InvestingPro Tips highlight that Silo Pharma is a niche player in the biopharmaceutical industry and has been aggressive in its share buyback program. This could be indicative of management's confidence in the company's future prospects. Additionally, the company's liquid assets exceed its short-term obligations, providing it with a stable financial position to continue its research and development activities.

For those considering an investment in Silo Pharma, InvestingPro offers additional insights and tips. There are 10 more InvestingPro Tips available that could further inform your decision-making process. To access these valuable insights, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at InvestingPro.

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