Silo Pharma Announces Public Offering to Fund Psychedelic and Cannabis Research
Summary
Full Article
Silo Pharma (NASDAQ: SILO) has announced a public offering of approximately 3.33 million shares of common stock, along with Series A-1 and Series A-2 warrants, priced at $0.60 per unit. This strategic move is expected to generate gross proceeds of about $2 million, which will be allocated towards general working capital, furthering the company's research and development in psychedelic and cannabis-based therapies. H.C. Wainwright & Co. is serving as the exclusive placement agent for this offering.
The Series A-1 and A-2 warrants are immediately exercisable at $0.60 per share, with expiration dates set at five years and eighteen months, respectively. This financial maneuver underscores Silo Pharma's commitment to advancing its portfolio of novel therapeutics aimed at addressing underserved conditions such as stress-induced psychiatric disorders, chronic pain, and central nervous system diseases.
Among Silo Pharma's promising pipeline is SPC-15, an intranasal treatment targeting post-traumatic stress disorder (PTSD) and stress-induced anxiety disorders, and SP-26, a time-release, ketamine-loaded implant designed for fibromyalgia and chronic pain relief. Additionally, the company is developing SPC-14, an intranasal compound for Alzheimer’s disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (MS). These initiatives highlight Silo Pharma's innovative approach to leveraging psychedelic and cannabis-based treatments in novel formulations and drug-delivery systems.
The implications of this public offering extend beyond Silo Pharma's immediate financial needs. It represents a significant step forward in the broader acceptance and development of psychedelic and cannabis-based therapies, potentially offering new hope for patients suffering from conditions that have been difficult to treat with traditional pharmaceuticals. For investors, this offering presents an opportunity to participate in the growing psychedelic and cannabis industries, which are increasingly recognized for their potential to revolutionize mental health and pain management treatments.
For more details on Silo Pharma's public offering and its research initiatives, visit https://ibn.fm/l208j.
This story is based on an article that was registered on the blockchain. The original source content used for this article is located at InvestorBrandNetwork (IBN)