- 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
About PsychedelicNewsWire
PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
To receive instant SMS alerts, text “Groovy” to 844-397-5787 (U.S. Mobile Phones Only)
For more information please visit https://www.PsychedelicNewsWire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.PsychedelicNewsWire.com/Disclaimer
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire (PNW)
San Francisco, California
www.PsychedelicNewsWire.com
415.949.5050 Office
Editor@PsychedelicWire.com
PsychedelicNewsWire is part of the InvestorBrandNetwork.NASDAQ:SILO
