This announcement is based on a press release statement from Silo Pharma. With a current ratio of 7.9, the company maintains strong liquidity to fund its development pipeline, though analysts tracked by InvestingPro do not anticipate profitability this year, with projected EPS of -$0.90 for 2024. With a current ratio of 7.9, the company maintains strong liquidity to fund its development pipeline, though analysts tracked by InvestingPro do not anticipate profitability this year, with projected EPS of -$0.90 for 2024. The application focuses on the chronic targeting of specific receptors to potentially extend the behavioral effects against certain stress-induced behaviors.
The provisional patent covers the combinatorial targeting of N-methyl-D-aspartate receptors (NMDARs) and serotonin type IV receptors (5-HT4Rs). This approach is part of Silo's broader strategy to strengthen its intellectual property portfolio around SPC-15, which was originally licensed through a collaboration with Columbia University. The company has exclusive global rights to develop, manufacture, and commercialize SPC-15.
This announcement is based on a press release statement from Silo Pharma. With a current ratio of 7.9, the company maintains strong liquidity to fund its development pipeline, though analysts tracked by InvestingPro do not anticipate profitability this year, with projected EPS of -$0.90 for 2024.
SPC-15 is an intranasal serotonin 5-HT4 receptor agonist, and Silo Pharma is considering utilizing the FDA's 505(b)(2) regulatory pathway, which could potentially accelerate the approval process. Preclinical studies are underway in partnership with Columbia University.
Silo Pharma's focus extends beyond SPC-15, with a portfolio that includes programs for fibromyalgia, chronic pain, Alzheimer's disease, and multiple sclerosis. The company's research collaborations span leading universities and laboratories.
The news release also contains forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those projected. The company cautions that while it believes its expectations reflected in the statements are reasonable, they are not guarantees of future performance and actual results may differ.
This announcement is based on a press release statement from Silo Pharma.
In other recent news, Silo Pharma, Inc. has achieved significant milestones in the development of its lead assets, SPC-15 and SP-26. The U.S. Patent and Trademark Office has issued a Notice of Allowance for a patent application related to SPC-15, an intranasal treatment for post-traumatic stress disorder (PTSD). This patent, expected to be formally issued within the next 90 days, strengthens Silo Pharma's intellectual property rights and potentially bolsters its market position.
Meanwhile, the company has completed a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA) for SPC-15 and expects to submit an Investigational New Drug (IND) application in 2025. Early 2025 animal studies are being prepared for SP-26, a time-release ketamine-loaded implant for fibromyalgia and chronic pain.
Silo Pharma also secured approximately $2.1 million through a registered direct offering and concurrent private placement of securities for working capital and general corporate purposes. During the company's annual shareholder meeting, board members were re-elected and its independent public accounting firm, Salberg & Company, P.A., was ratified. These recent developments highlight Silo Pharma's commitment to advancing its portfolio and addressing underserved conditions.
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