Silo Pharma's New Ketamine Implant For Fibromyalgia And Chronic Pain Is In The Making
Portfolio Pulse from Lara Goldstein
Silo Pharma (NASDAQ:SILO) has entered into an R&D agreement to study and develop a dosage and time-release ketamine implant for fibromyalgia and chronic pain. The project includes analytical testing and preclinical proof-of-concept trials. Silo's existing R&D program includes novel compound SP-26, a time-released, dosage-controlled ketamine formulation.
June 13, 2023 | 6:05 pm
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Silo Pharma is developing a ketamine implant for fibromyalgia and chronic pain, entering into an R&D agreement to study and develop the implant.
The development of a ketamine implant for fibromyalgia and chronic pain could potentially expand Silo Pharma's product offerings and address a growing market. The company's entry into an R&D agreement indicates progress in this area, which may positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tryp Therapeutics is also targeting fibromyalgia with psychedelic-assisted therapy, developing a patent-applied and in-progress psilocybin-based novel treatment.
While Tryp Therapeutics is mentioned in the article as a competitor in the fibromyalgia treatment market, the news is primarily focused on Silo Pharma's R&D agreement for the ketamine implant. Therefore, the short-term impact on Tryp Therapeutics' stock price is likely to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50