24/7 Market News Snapshot 10 September, 2024 – Silo Pharma, Inc. Common Stock (NASDAQ:SILO)

September 10, 2024

DENVER, Colo., 10 September, 2024 (247marketnews.com) – (NASDAQ:SILO) are discussed in this article.
Silo Pharma, Inc. (SILO) is witnessing a remarkable uptick in investor interest, with shares climbing 18.78% to $1.461 in pre-market trading, up from a previous close of $1.230. Current trading volume has reached 969.05K, indicating increased market activity and potential momentum for the stock. Investors are advised to monitor technical indicators, such as moving averages and volume trends, as these metrics may provide further insights into the stock’s future trajectory.

In addition to the positive market activity, Silo Pharma has announced significant advancements in its investigational treatment targeting post-traumatic stress disorder (PTSD) and anxiety. The company recently concluded a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA), focusing on its innovative intranasal treatment, SPC-15. The meeting aimed to establish alignment with the FDA regarding the 505(b)(2) regulatory pathway, which may facilitate a more efficient approval process while potentially lowering drug development costs.

Expressing the company’s optimism, CEO Eric Weisblum stated, “We now possess a clear path for advancing our development of SPC-15 into clinical testing.” The FDA’s Division of Regulatory Operations for Neuroscience provided encouraging feedback during the meeting, marking an essential milestone toward FDA approval and the eventual availability of this treatment for those suffering from PTSD and anxiety.

Currently, Silo is conducting a Good Laboratory Practice-compliant pharmacokinetic and pharmacodynamic study to bolster its upcoming IND submission. Preliminary findings suggest that SPC-15, a serotonin 4 (5-HT4) receptor agonist, offers promise in addressing stress-induced disorders. Through a partnership with Columbia University, Silo has secured an exclusive license to develop and commercialize SPC-15 globally, underscoring its commitment to providing innovative solutions for underserved psychiatric conditions while advancing its pipeline for other challenges such as chronic pain and central nervous system disorders.

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