Silo Pharma Inc (OTCMKTS: SILO) is likely to see tremendous gains in the market this morning, and for good reason. The company announced a planned Phase 2 clinical trial that’s likely to lead to quite a bit of excitement. Here’s what’s happening:
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SILO Stock To Pop On Phase 2B Clinical Trial News
In the press release, Silo Pharma said that it has entered into an investigator-sponsored study agreement with Maastricht University. Maastricht University is a world-renowned college based in the Netherlands.
The company said that the research project is a clinical study aimed at examining the effects of repeated low doses of psilocybin and LSD on cognitive and emotional dysfunctions in Parkinson’s disease. Moreover, the study will assist in the understanding of the mechanism of action among these therapeutic options.
SILO went on to explain that Dr. Kim Kuypers, Associate Professor of the Department of Neuropsychology and Psychopharmacology at Maastricht University, will serve as the Investigator Sponsor for the Phase 2B study. Dr. Kuypers is largely focused on MDMA and psychedelics and their effects on cognition, creativity, hormones, and underlying brain mechanisms.
The company said that the Phase 2B study is a human study that will be conducted on a sufficient number of patients for the purpose of evaluating safety and efficacy of psilocybin and LSD in patietns with Parkinson’s disease. The main objective of the trial is to investigate the effects of repeated low doses of psilocybin and LSD on well-being and affect, emotional and cognitive, and biological markers of neuroplasticity.
SILO explained that secondary objectives are to investigate the effects of repeated low doses of psilocybin and LSD on cognitive performance measures of memory and executive functioning, known to be impaired in Parkinson’s disease patients.
In a statement, Eric Weisblum, Chairman and SEO at Silo Pharma, had the following to offer:
The signing of this clinical study agreement represents a significant milestone for the Company as we continue our work to bring novel therapeutics to patients in need. Dr. Kuypers is one of the world’s foremost clinical investigators in the field of psychedelics and has previously evaluated the concept of micro-dosing in her research.
Parkinson’s disease is a progressive nervous system disorder that affects 7-10 million people globally and currently has no cure. Our goal, in collaborating with Maastricht University and Dr. Kuypers, is to bring hope to those suffering with this terrible disease. We expect to share additional information regarding protocol, thics submission and initiation of the study as the information becomes available.
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The Bottom Line
The bottom line here is simple. Silo Pharma is now moving toward a Phase 2B clinical trial, putting it in line with Mind Medicine (OTCMKTS: MMEDF), a company with a market cap of around $500 million. However, SILO only trades with a market cap of just $33 million. That’s a huge difference, serving to outline the undervaluation that SILO stock is experiencing and likely opening eyes to the opportunity it provides.
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Disclosure: CNA Finance, parent company to Alpha Stock News, has a monetary relationship with Silo Pharma that resulted in the publication of this article.