Intel stock extends gains after report of possible U.S. government stake
In a challenging year for Silo Pharma, the biopharmaceutical company’s stock has tumbled to a 52-week low, touching a price level of just $0.47. This significant downturn reflects a stark 1-year change, with the stock value eroding by -78.74%. With a current market capitalization of just $3.8 million and an impressive gross profit margin of 91.9%, the company maintains strong operational efficiency despite its market challenges. Investors have watched with concern as the company, which focuses on merging traditional therapeutics with psychedelic research, has struggled in a competitive market. The drop to a 52-week low signals a period of intense pressure for Silo Pharma, as it navigates through a landscape of regulatory hurdles and heightened investor expectations for innovation and profitability in the biotech sector. According to InvestingPro analysis, the stock currently appears undervalued, with 13 additional exclusive ProTips available for deeper insight into the company’s prospects.
In other recent news, Silo Pharma has announced several significant developments. The company reported positive preclinical results for SP-26, an extended-release ketamine implant designed for fibromyalgia treatment. The study met all endpoints, showing potential as a long-acting therapy and supporting the move toward clinical trials. Additionally, Silo Pharma set a public offering of securities priced at $0.60 per share, with expected gross proceeds of approximately $2 million, facilitated by H.C. Wainwright & Co. This offering is intended to support general working capital needs.
Silo Pharma is also advancing its PTSD treatment, SPC-15, with multiple collaborations. A partnership with Veloxity Labs aims to conduct bioanalysis for SPC-15, while an agreement with Frontage Laboratories involves a safety study critical for an upcoming IND application. The company plans to submit this application to the FDA within the year, potentially expediting the approval process through the FDA’s 505(b)(2) regulatory pathway. These recent developments highlight Silo Pharma’s ongoing efforts in advancing its therapeutic programs.
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