Why Is Nano-Cap Silo Pharma Stock Skyrocketing On Tuesday?
Portfolio Pulse from Vandana Singh
Silo Pharma Inc (NASDAQ:SILO) shares surged 128% on Tuesday due to high trading volume and the announcement of an exclusive global license agreement for its Alzheimer's drug SPC-14. The company plans to use the FDA's 505(b)(2) pathway to expedite development and reduce costs. Silo also has a similar agreement for SPC-15, targeting stress-induced disorders and PTSD.
July 16, 2024 | 2:50 pm
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Silo Pharma's stock surged 128% due to a new exclusive global license agreement for its Alzheimer's drug SPC-14. The company plans to use the FDA's 505(b)(2) pathway to shorten clinical timelines and reduce costs.
The announcement of an exclusive global license agreement for SPC-14, combined with the use of the FDA's 505(b)(2) pathway, significantly boosts investor confidence in Silo Pharma's potential to meet a large unmet medical need in the Alzheimer's market. This has led to a substantial increase in trading volume and a 128% rise in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100