Investing.com -- Shares of Silo Pharma, Inc. (NASDAQ:SILO) surged over 130% early on Wednesday following the company's announcement that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for a patent application critical to its lead asset, SPC-15, an intranasal treatment for post-traumatic stress disorder (PTSD).
The patent, which is expected to be formally issued within the next 90 days, will enhance the protection of SPC-15 by adding new claims to an existing patent issued in February 2023. The Notice of Allowance is a significant milestone for Silo Pharma, as it extends the company's intellectual property rights and potentially strengthens its market position.
Silo's CEO, Eric Weisblum, expressed optimism regarding the development, stating, "We are pleased to kick off 2025 with this expected addition to our intellectual property portfolio. The approval of this patent broadens protection for SPC-15 and expands our technology rights." The patent's approval is seen as a strategic advancement for Silo Pharma, which holds an exclusive license agreement with Columbia University to develop, manufacture, and commercialize SPC-15 on a global scale.
The company's portfolio is bolstered by existing patents and pending intellectual property applications acquired through its agreement with Columbia University, indicating a robust framework for protecting its lead asset. This move is likely to reinforce investor confidence in Silo's commitment to securing its technological advancements and its potential to navigate the competitive landscape of PTSD treatments.
The market's reaction to this news reflects the high value investors place on robust patent portfolios, especially for companies in the biopharmaceutical sector where intellectual property is a key asset. The formal issuance of the patent will mark an important step in safeguarding Silo's proprietary treatment and could have a lasting impact on the company's growth trajectory.
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