Silo Pharma ($SILO): The Nasdaq Underdog On The Verge Of Something Big

Checkers
2 days ago
3 min read

The Nasdaq is home to thousands of biotech companies, but most are running a decades-long experiment fueled by relentless capital raises and endless dilution. This is the old playbook. Silo Pharma, Inc. (NASDAQ: $SILO) has ripped it up entirely. The company maintains an aggressive, zero-debt stance and is executing a tactical blueprint built on regulatory intelligence. By licensing novel delivery systems for known compounds from world-class institutions like Columbia University, the company uses the FDA’s 505(b)(2) pathway, a core advantage that bypasses years of initial safety testing. This approach, funded by a unique combination of traditional capital and a non-correlated digital asset treasury, is designed to turn preclinical assets into clinical progress at hyper-speed.

Table displaying drug development stages with categories like Mental Health, Chronic Pain, Neurology; yellow progress bars; 2025 data notes.

This efficiency is already creating momentum, led by the company's lead program, SPC-15, an intranasal spray for stress-induced disorders such as Post-Traumatic Stress Disorder (PTSD). After filing its Pre-IND application in June 2024, Silo expanded its intellectual property with new patent protections in Australia and Japan. The combination of positive

results from safety testing and expanding IP is exactly what you want ahead of the pivotal IND filing (expected to be filed later this year), as FDA clearance is the final gate before the company can initiate its Phase 1 trial.

The company’s model gets its strongest external validation from its work in Alzheimer's disease. The SPC-14 program uses a nasal delivery system to target both cognitive and behavioral symptoms, and in August, its preclinical results were published in the peer-reviewed journal Alzheimer’s Research & Therapy. The publication provides a citable, scientific validation that puts the program on the radar of clinicians and potential partners in one of medicine's largest markets.

A person in a lab coat examines brain scans on a large digital screen. The setting is a dimly-lit room, suggesting focus and analysis.

The company is applying that same efficient model to chronic pain and Fibromyalgia with SP-26, a small, dissolvable implant that releases a steady dose of ketamine for weeks. Positioned as a potential first-at-home, non-opioid injectable for the sector, the program moved from plan to proof in February when Silo announced that initial animal testing was a success. The data confirmed its proprietary delivery system worked, representing a major validation for the program.

The pipeline’s long-term value is anchored by platform assets like SPU-16, a CNS-homing peptide developed with the University of Maryland. This technology is designed to deliver other medicines directly to inflamed tissue in the brain. If ongoing work confirms its targeting ability, SPU-16 becomes a platform that can boost existing drugs for conditions like Multiple Sclerosis (MS), adding vast long-term IP value.

At the start of the month, Silo closed a $2.5 million Registered Direct Offering, adding to the approximately $6 million in cash and short-term investments as of mid 2025, a capital base fortified by the company's cryptocurrency treasury. That treasury was institutionalized in September through an agreement with Fireblocks to provide secure, enterprise-grade infrastructure, a model designed to generate yield and protect the balance sheet against the market volatility that cripples its peers.

Bar chart of Central Nervous System Therapeutic Market (2018-2030) by region, showing growth in market size with labeled values for 2024, 2025, 2030.

The opportunity in CNS therapeutics is enormous, with the total market projected to grow from $130.1 billion in 2024 to $254.6 billion by 2030. Silo is targeting a portfolio of high-value segments within that market, including the $15.19 billion Alzheimer’s therapeutics market, the $38.62 billion Multiple Sclerosis market, and the $2.85 billion market for PTSD therapeutics.

As it sits today, Silo Pharma is moving multiple CNS programs toward the clinic, backed by a zero-debt balance sheet and partnerships with world-class institutions. While larger peers such as Mind Medicine (NASDAQ: $MNMD, ~$930 million market cap) and Compass Pathways (NASDAQ: $CMPS, ~$600 million market cap) operate at vastly different scales, that spread underscores how wide the range is across CNS developers as Silo advances from preclinical to clinical stages. The company is executing this entire strategy at a ~$9 million market capitalization, a figure that stands in stark contrast to both the size of the markets it is targeting and the operational progress it has already demonstrated.

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