09:07 AM EDT, 06/07/2024 (MT Newswires) -- Silo Pharma ( SILO ) said Friday it has moved closer to achieving the optimal formulation for its SP-26 ketamine implant to treat chronic pain and fibromyalgia.

The developmental stage biopharmaceutical company said it was conducting small batch proof-of-concept extrusion trials for the injectable and dissolvable ketamine hydrochloride implant at 20% and 40% drug load. The tests showed "positive data" for the implant's stability, blend uniformity, and dissolution rates, according to the company.

"The results so far in our ongoing SP-26 pre-clinical research bring us closer to determining the optimal formulation for future pre-clinical testing models," Silo Chief Executive Eric Weisblum said.

Price: 1.1899, Change: +0.01, Percent Change: +0.84