Silo Pharma Closes $2.5M Registered Direct Offering for Drug Development

Silo Pharma, a developmental-stage biopharmaceutical company, completed a registered direct offering on October 1, 2025, selling 2,857,143 shares of common stock at $0.875 per share and raising approximately $2.5 million before fees. Concurrently, the company issued unregistered warrants to purchase an equal number of shares at an exercise price of $0.75 per share, exercisable immediately and valid for five years. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. The proceeds from the offering are intended to support Silo Pharma's working capital and general corporate purposes. The stock was offered under a shelf registration statement declared effective by the SEC in January 2024. Silo Pharma focuses on developing novel formulations and drug delivery systems for traditional and psychedelic therapeutics targeting conditions like psychiatric disorders, chronic pain, Alzheimer’s disease, and multiple sclerosis.