Silo Pharma Inc (OTCMKTS:SILO) stock saw a bit of pull back after the recent jump. The stock is still up 8% over the past week.
In the previous trading session, SILO stock ended lower by 3.60% at $0.2130. A total of 112k shares traded for the session hands, compared to its average volume of 116K shares. The stock opened at $0.2390 and moved in a range of $0.1950 – 0.2390.
Silo Pharma achieves milestone – Partner Zylo Therapeutics Receive DEA Approval to Advance …
Silo Pharma announced that their joint venture partner Zylo Therapeutics received approval from the DEA to advance the development of their Z-pod technology in combination with Ketamine.
Eric Weisblum, CEO of Silo Pharma stated “The development of a transdermal Ketamine therapeutic with the patented Z-Pod® technology is an exciting opportunity for Silo. The DEA’s approval advances the development and ability to deliver Ketamine and potentially Psilocybin in a time-released or dosage-controlled manner. We look forward to updating investors on this partnership as milestones are achieved.”
SILO stock is looking strong as it is trading above all the key moving averages with 50-day and 20-Day SMA stand at $0.18 and $0.20 respectively. The stock has gained 25% over the past month. The RSI stood at 58.