Silo Pharma, Inc.

What they do

Silo Pharma is a developmental-stage biopharmaceutical and cryptocurrency company developing novel therapeutics for underserved conditions including PTSD, stress-induced anxiety disorders, fibromyalgia, and CNS diseases. Its pipeline includes SPC-15, an intranasal 5-HT4 receptor agonist for PTSD and anxiety; SP-26, a time-release ketamine-loaded implant for fibromyalgia and chronic pain; and preclinical candidates SPC-14 (Alzheimer's disease) and SPU-16 (multiple sclerosis). The company licenses IP from academic institutions and holds agreements with the University of Maryland, Baltimore and Columbia University.

Revenue drivers

• No commercial products — Company is development-stage with no marketed products; annual revenue is nominal ($72,102 in 2025, $18,026 per quarter in 2026).
• Licensing and sponsored research agreements — Licensing agreements (e.g., Columbia University for ketamine combinations) and sponsored research generate funding obligations but no meaningful recurring revenue.
• Cryptocurrency activities — Company describes itself as a 'biopharmaceutical and cryptocurrency company' but no revenue is reported from this activity in the provided data.

Recent performance

Annual net loss for 2025 was $-4.2M, improving from $-4.4M in 2024 but with an operating cash flow deterioration to $-4.7M from $-3.8M. Quarterly revenue remained flat at about $18,026 through Q2 2026. As of June 30, 2026, cash and equivalents were $3.3M, total assets $6.0M, and shareholder equity $4.9M. Diluted EPS for 2025 was $-0.50, narrower than the $-1.19 loss in 2024.

Strategy

Silo plans to acquire and license intellectual property from universities and researchers for rare CNS diseases, focusing on psychedelic drugs like psilocybin and ketamine. It is developing product candidates through clinical trials, with SPC-15 as lead, and aims to develop both traditional and psychedelic-derived therapeutics. The company has formed a scientific advisory board to guide asset acquisition. It may seek additional financing to fund operations, as it currently has no arrangements to raise all needed capital.

Risks

• No profitable history — Company has never achieved positive monthly cash flow and expects continued losses; investment could be lost.
• Need for additional capital — Company will require future funding and lacks arrangements for all needed capital; could delay or discontinue operations if unable to raise funds.
• Regulatory and Schedule I challenges — Psilocybin is a Schedule I substance, but FDA/DEA have permitted clinical studies; regulatory hurdles could delay development.
• Early-stage pipeline — All candidates are in development or preclinical stages, with no approved products; clinical trial risks are material.

Outlook

Management notes no material changes to critical accounting estimates or risk factors since the 10-K. The company is focused on advancing SPC-15 and other candidates through research and development, but expects to sustain losses. Recent 8-K filings signal ongoing equity sales and financing activities, consistent with a need for capital.