Silo Pharma completes 1-for-15 reverse stock split

Silo Pharma, Inc. (Nasdaq: SILO) filed a Certificate of Change with the Nevada Secretary of State on June 1, 2026 to carry out a 1-for-15 reverse stock split of its common stock. The split became effective at 4:01 p.m., Eastern Time, on Tuesday, June 2, 2026. The company's common stock began trading on a split-adjusted basis when The Nasdaq Stock Market opened on June 3, 2026. The company reported the change in a Form 8-K filed on June 3, 2026.

The terms

When the split took effect, every 15 shares of common stock issued and outstanding were automatically reclassified and combined into one share. The par value per share did not change. Authorized shares were reduced by the same proportion, so the company now has 6,666,667 shares of authorized common stock.

A proportionate adjustment was made to the per-share exercise price and the number of shares issuable under all outstanding stock options and warrants. The number of shares reserved for issuance under the company's equity incentive compensation plans was adjusted in the same way. No fractional shares were issued in connection with the split. Stockholders who would otherwise have been entitled to a fraction of a share had their holdings rounded up to the next whole share.

The common stock continues to trade on The Nasdaq Capital Market under the existing symbol SILO, but it has been assigned a new CUSIP number, 82711P 300. The full text of the Certificate of Change is filed as Exhibit 3.1 to the 8-K.

Registration statements

The 8-K also says the company has registration statements on Form S-1 (File Nos. 333-280855 and 333-291129) and on Form S-3 (File No. 333-276658) on file with the SEC. Under Rule 416(b), the amount of undistributed shares covered by those statements was proportionately reduced at the effective time of the split, using the 1-for-15 ratio. The 8-K states that the information in it is intended to be incorporated by reference into each of the active registration statements, thereby amending them.

What the company does

Silo's annual report for 2025, filed March 27, 2026, describes the company as a developmental stage biopharmaceutical and cryptocurrency company. Its therapeutic focus covers conditions such as PTSD, stress-induced anxiety disorders, fibromyalgia and central nervous system diseases. The lead program, SPC-15, is an intranasal treatment for PTSD and stress-induced anxiety disorders. SP-26 is a time-release ketamine-based implant for fibromyalgia and chronic pain. The preclinical programs are SPC-14 for Alzheimer's disease and SPU-16 for multiple sclerosis.

Financial position

The annual report shows research and development expense of $2.2 million for 2025, compared with $2.4 million for 2024. It reports a net loss of $4.2 million for 2025 and $4.4 million for 2024. Cash from operations was negative $4.7 million in 2025 and negative $3.8 million in 2024. The annual report is the latest financial source used for this story.

The annual report also says SPC-15 is licensed exclusively from Columbia University, and it describes an exclusive license for the soft mist nasal spray technology used to deliver SPC-15. That license with Medspray Pharma BV was entered into on November 15, 2023.

The risks ahead

The 8-K gives no reason for the split. A reverse split changes the number of shares, not the company's revenue or cash, and the filing reports no new financing. Silo has almost no revenue: $72,102 in both 2025 and 2024, against a net loss of $4.2 million and cash used in operations of $4.7 million in 2025.

The drug work is early. The annual report says a pre-IND briefing package and meeting request for SPC-15 went to the FDA in June 2024. The sources show no investigational new drug application and no human data, and they describe the 505(b)(2) pathway only as one the drug may qualify for.

Report an error

Companies in this story

SILOSilo Pharma, Inc.NASDAQ · United StatesOpen the starter desk