Silo Pharma, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 05:01 pm EST
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Silo Pharma, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 0.66016 million compared to USD 0.983246 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to USD 0.49 a year ago. Basic loss per share was USD 0.21 compared to USD 0.49 a year ago. Diluted loss per share was USD 0.21 compared to USD 0.49 a year ago.
For the nine months, net loss was USD 2.58 million compared to USD 2.25 million a year ago. Basic loss per share from continuing operations was USD 0.82 compared to USD 1.13 a year ago. Diluted loss per share from continuing operations was USD 0.82 compared to USD 1.13 a year ago. Basic loss per share was USD 0.82 compared to USD 1.13 a year ago. Diluted loss per share was USD 0.82 compared to USD 1.13 a year ago.
Silo Pharma, Inc. is a developmental stage biopharmaceutical company. The Company is focused on developing novel therapeutics that address underserved conditions including stress-induced psychiatric disorders, chronic pain conditions, and central nervous system (CNS) diseases. It is engaged in acquiring and/or developing intellectual property or technology rights from universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the potential benefits they may have in certain cases involving depression, mental health issues and neurological disorders. The Companyâs lead program, SPC-15, is an intranasal treatment targeting PTSD and stress-induced anxiety disorders. Its SP-26 is a time-release ketamine-loaded implant for fibromyalgia and chronic pain relief. Its two preclinical programs are SPC-14, an intranasal compound for the treatment of Alzheimerâs disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (MS).