Silo Pharma Soars On Positive Data For Its Arthritis Drug Candidate

(RTTNews) - Shares of Silo Pharma, Inc. (SILO) are surging more than 50% Friday morning after the company reported positive data for its drug candidate SPU-21 for the treatment of Arthritis.

The company today announced positive interim data from its dose optimization study of SPU-21 joint homing peptides for subcutaneous administration of anti-arthritic agents.

Silo Pharma said it is pursuing a development plan utilizing its liposomal joint homing peptides as a potential therapy for rheumatoid arthritis (RA).

SILO, currently at $5.21, has traded in the range of $0.17-$12.45 in the last 1 year.