Silo Pharma (Nasdaq:SILO), a developmental-stage biopharmaceutical company involved in novel therapeutics and drug delivery systems, announced on Thursday that it has received confirmation that it has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2).

The company's common stock continues to trade on the Nasdaq Capital Market, and the matter is now closed.

Silo Pharma's CEO, Eric Weisblum, said that the company remains confident about its progress toward a first-in-human clinical trial of lead drug SPC-15 targeting post-traumatic stress disorder (PTSD) and successfully advancing its AI agents platform, QwikAgents.

Silo Pharma focuses on addressing underserved conditions, including stress-induced psychiatric disorders, chronic pain, and central nervous system (CNS) diseases. The company's portfolio includes SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and a preclinical asset targeting Alzheimer's disease.