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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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
POSITIVE IMPACT
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