Silo Pharma up on positive data in arthritis drug study

Silo Pharma

16/10/2023 13:56

** Shares of drug developer Silo Pharma  SILO.O  rise 5.2%
to $1.63 in premarket trading 
    ** Co says its experimental drug showed positive results
against rheumatoid arthritis in a pre-clinical study
    ** RA is a chronic inflammatory disorder that affects the
joints and other body systems
    ** The study investigated binding affinity and optimization
of peptide-guided anti-arthritis drug candidate SPU-21 in human
synovial tissue 
    ** Says data indicated SPU-21's preferential interaction
with the inflamed synovial tissue for disease-suppressive
effects
    ** Synovial tissue a thin layer of human tissue that lines
the joints and tendon sheaths
    ** Expects next data for SPU-21 by year-end or early 2024
    ** As of last close, stock down ~55% YTD 

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