Silo Pharma Shares Rise 12% After Positive Results for SP-26 Study

By Chris Wack

Silo Pharma Inc. shares were up 12% at $2.27 after the company said it has achieved positive results for its toxicology study of SP-26, its novel time-released, dosage-controlled formulation of ketamine.

The developmental stage biopharmaceutical company said the study results evaluated the feasibility of using a rising dose design or maximum feasibility.

In collaboration with Experimur, a Frontage Laboratories company, Silo Pharma tested SP-26 in a toxicology and tolerability study in mini pigs, using an ascending dosing regimen.

The study used the bioanalytical methods required to perform toxicology studies by the U.S. Food and Drug Administration in advance of initiating clinical studies for SP-26.

Silo shares hit their 52-week low of $1.98 on Tuesday, and are down 84% in the past 12 months.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

03-15-23 1018ET