07:23 AM EDT, 07/16/2024 (MT Newswires) -- Silo Pharma ( SILO ) said Tuesday that it has entered into an exclusive global license agreement to further develop, manufacture, and commercialize its Alzheimer's drug, SPC-14.

Silo said it plans to leverage the US Food and Drug Administration's expedited 505(b)(2) pathway for SPC-14 to shorten clinical timelines and lower drug development expenses.

Shares of the company were up 97% in recent Tuesday premarket trading.

Price: 2.1100, Change: +1.04, Percent Change: +97.20