24/7 Market News Snapshot 29 November, 2024 – Silo Pharma, Inc. Common Stock (NASDAQ:SILO)

November 29, 2024

DENVER, Colo., 29 November, 2024 (247marketnews.com) – (NASDAQ:SILO) are discussed in this article.
Silo Pharma, Inc. is currently experiencing a notable uptrend in its stock performance, with shares rising to $1.005 in pre-market trading, representing an increase of approximately 11.67% from the previous close of $0.900. The volume of 3.72 million shares traded indicates heightened investor interest, potentially fueled by recent developments concerning the company. Observers are encouraged to monitor ongoing price movements and volume trends as sustained bullish momentum might present additional opportunities for gains in the near term.

In tandem with this market performance, Silo Pharma has announced a strategic collaboration with Kymanox, a distinguished design and development company. This partnership is set to advance the therapeutic landscape with the creation of a specialized subcutaneous insertion device for SP-26, a ketamine-loaded implant aimed at treating fibromyalgia and chronic pain. Kymanox will begin with proof-of-concept design work, progressing into the development of a full system prototype and feasibility testing to determine the optimal depth for implant insertion—critical to patient safety and therapeutic effectiveness.

Silo Pharma’s CEO, Eric Weisblum, expressed enthusiasm for this collaboration, emphasizing the company’s focus on developing innovative therapeutic devices, which are crucial for ongoing preclinical studies. The initial successes in the formulation of SP-26 have bolstered the excitement surrounding this endeavor. The implications of SP-26, particularly as a possible at-home injectable solution for pain management, could substantially enhance patient access to treatment.

Additionally, Silo Pharma is exploring further opportunities with Kymanox in its SPC-15 program, targeting stress-induced affective disorders, including PTSD. Through these initiatives, Silo Pharma is committed to addressing significant medical needs, positioning itself as a leader in novel pain management and mental health solutions.

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