Silo Pharma shares surge 22.46% premarket after signing LOI with Allucent for SPC-15 Phase 1 clinical trials.

Silo Pharma surged 22.46% in premarket trading following the announcement of a non-binding Letter of Intent (LOI) with Allucent to advance SPC-15, its intranasal PTSD treatment, into Phase 1 clinical trials. The collaboration, covering single- and multiple-ascending dose studies, marks a critical milestone in the drug’s development, with management emphasizing its potential to generate high-quality safety and pharmacokinetic data. This news, combined with the company’s prior Nasdaq compliance extension, signaled progress in both regulatory and clinical frontiers, boosting investor sentiment. While the Nasdaq extension provided temporary relief from delisting risks, the clinical partnership was the primary catalyst for the sharp premarket gain, reflecting optimism about SPC-15’s pipeline potential and long-term value creation.