Business
Silo Pharma Reports Third Quarter Results and Operating Highlights
Englewood Cliffs, NJ, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO), a development-stage biopharmaceutical company focused on the use of
About this update from Silo Pharma, Inc.
[{"type":"text","content":"Englewood Cliffs, NJ, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO), a development-stage biopharmaceutical company focused on the use of psychedelics as a therapeutic, today reported its financial results for the third quarter 2021 and gave an update on recent progress in its business. Operating Highlights Entered sponsored research agreement with Columbia University to develop psychedelic therapeutics for Alzheimer’s Disease and received an option to license assets currently under developmentUMB awarded notice of allowance from the U.S. Patent and Trademark Office for central nervous system homing peptide patent on Silo’s licensed technologyZylo Therapeutics and Silo Pharma’s joint venture received DEA Approval to advance the Patented Z-Pod technology to deliver ketamineAdvancement of sponsored research and option agreement with The University of Maryland, Baltimore for novel joint homing peptide for rheumatoid arthritisAdvancing with up-listing plan to the Nasdaq Stock MarketTotal working capital approximately $11.0 million Mr. Eric Weisblum, Chief Executive Officer of Silo Pharma, commented, “We are making progress in our efforts to advance research in psychedelics as a therapeutic and achieved several key milestones in the third quarter of 2021. We materially strengthened our balance sheet to advance our platform and accelerate our development plans. Additionally, we remain focused on our goal to uplist our shares to the Nasdaq, and believe the uplisting will strengthen long term shareholder value and serve as a catalyst to further diversify our shareholder base.\" About Silo Pharma Silo Pharma is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Alzheimer’s, Parkinson’s, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the health care industry. For more information, visit www.silopharma.com Safe Harbor and Forward-Looking StatementsThis news release contains \"forward-looking statements\" within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of wor...