Silo Pharma rises on research contract to develop implant therapeutic for pain disorder

Silo Pharma

13/06/2023 13:43

** Shares of drug developer Silo Pharma Inc  SILO.O  rise
~23% to $2.93 premarket
    ** Co says it has entered into a research and development
agreement to study and develop a ketamine-based implant for the
treatment of fibromyalgia 
    ** Fibromyalgia is a chronic disorder that causes pain and
tenderness throughout the body, as well as memory issues,
fatigue and sleep problems
     ** SILO is also developing a topical drug, SP-26, to treat
fibromyalgia    
    ** The research project includes analytical testing services
and small batch pre-clinical trials to determine drug release
and stability - SILO
    ** Up to last close, stock down ~29% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))