Silo Pharma (SILO) Stock: A Big Win After Milestone Achievement

Silo Pharma, Inc. (OTCQB: SILO) is a stock that I’ve been following for some time, and recently, there’s been quite a bit of news suggesting the company is headed for tremendous growth. One of those bits of news came last Thursday when the company announced that a major milestone had been achieved. 

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

SILO Reaches Major Milestone

In the press release, Silo Pharma said that its joint venture partner, Zylo Therapeutics, received approval from the DEA. The approval surrounds the advancement of the development of Z-pod technology in combination with Ketamine. 

Management Commentary

In a statement, Eric Weisblum, CEO at SILO, had the following to offer:

The development of a transdermal Ketamine therapeutic with the patented Z-Pod® technology is an exciting opportunity for Silo. The DEA’s approval advances the development and ability to deliver Ketamine and potentially Psilocybin in a time-released or dosage-controlled manner. We look forward to updating investors on this partnership as milestones are achieved.

This Is Big News

The news released by Silo proved to be overwhelmingly positive. Through their joint venture, the two companies plan on developing a time-release version of ketamine. However, the potential for SILO goes much further. 

As part of the joint venture agreement, Silo has the option to develop the Z-Pod time-release delivery option with psilocybin. This could be an important delivery method in the use of psilocybin as a therapeutic for various ailments ranging from Parkinson’s disease, to general anxiety disorder. 

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

The Bottom Line

The bottom line here is simple. Silo has been reaching milestone after milestone, setting the stage for tremendous growth ahead. As the company continues to innovate in the world of biotechnology, it only makes sense that further growth is likely ahead. 

Don't Miss the Next Big Story

Join our free mailing list below to receive real-time, actionable alerts!

Disclosure. CNA Finance is not a financial advisor or broker dealer. Trading in penny stocks can lead to a significant loss of capital. CNA Finance has a financial relationship with Silo Pharma.