Silo Pharma Inc. (NASDAQ: SILO) Successfully Uplists, Commences Trading on the Nasdaq Market
Oct 5, 2022
- Silo Pharma, Inc recently uplisted to the Nasdaq Capital Market, raising gross proceeds of $5 million
- The biopharmaceutical company has sought to merge traditional therapeutics and psychedelic research, entering into a series of joint ventures with leading medical universities to carry out research into the field
- Meanwhile, psychedelics are gaining increasing favour within the United States with Oregon set to begin allowing the supervised usage of psilocybin from 2023 onwards
Silo Pharma (NASDAQ: SILO), a developmental stage biopharmaceutical company focused around merging traditional therapeutics with psychedelic research, recently announced that it had successfully priced its fully underwritten initial public offering, raising gross proceeds of $5 million dollars through the sale of one million shares of its common stock. Furthermore, the company revealed that it had granted a 45-day option to its underwriter to purchase up to an additional 150,000 shares of common stock to cover over-allotments, if any. Following the offering and as of September 27, 2022, the company’s common stock listed on the Nasdaq Capital Market and commenced trading under the ticker symbol “SILO” (https://ibn.fm/mmEsK).
Originally founded in 2010, Silo Pharma has distinguished itself amongst peers for its ground-breaking research into conditions such as post-traumatic stress disorder (“PTSD”), fibromyalgia, Alzheimer’s disease, Parkinson’s disease, and other rare neurological disorders. Increasingly and over the past two decades, clinical research on psychedelics, most notably psilocybin and…
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO
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