Silo Pharma up on nod to develop ketamine-based implants for pain disorder

Silo Pharma

28/12/2023 14:29

** Shares of drug developer Silo Pharma  SILO.O  up 5.3% at
$1.60 premarket
    ** Co and its partner received nod from certain U.S.
regulatory authorities to begin development of a ketamine-based
implant, designated as SP-26, 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
    ** Co is developing SP-26 as a potential at-home pain relief
treatment for fibromyalgia and other chronic pain conditions
    ** SILO's partner now has the required approval from state
and federal drug enforcement authorities to commence working
with ketamine and loading it into the implant 
    ** As of last close, SILO stock was down 52.4% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))