aibioSilo Pharma gets Nasdaq bid price notice, has until December 24, 2025
Tickers SILO
Nasdaq told Silo Pharma on June 27, 2025 that its common stock fell below the $1.00 minimum bid price, based on closing bids from May 14 to June 26. The company has until December 24, 2025 to regain compliance and says it may consider a reverse stock split.
Key facts
- Company
- Silo Pharma, Inc. (NASDAQ: SILO)
- News type
- Listings
- Primary source
- Silo Pharma, Inc. 8-K (2025-07-03)
Silo Pharma, Inc. received a notification letter from The Nasdaq Stock Market, LLC on June 27, 2025 saying that it does not comply with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. The company reported the letter in a Form 8-K signed July 3, 2025. The company is a Nevada corporation with offices at 677 N. Washington Boulevard in Sarasota, Florida, and its common stock, par value $0.0001 per share, trades under the symbol SILO.
The rule and the deadline
Nasdaq Listing Rule 5550(a)(2) requires a minimum bid price of $1.00 per share. Under Rule 5810(c)(3)(A), a failure exists when the deficiency continues for 30 consecutive business days. Nasdaq based the notice on closing bid prices from May 14, 2025 to June 26, 2025, and the company says it no longer meets the requirement.
The letter has no immediate effect on the listing or trading of the stock. The company has 180 calendar days, or until December 24, 2025, to regain compliance. To do so, its closing bid price must be at least $1.00 for a minimum of 10 consecutive business days.
If the company does not regain compliance by that date, it may get a second 180-day period. That requires it to meet the market value of publicly held shares requirement and the other initial listing standards for the Capital Market, other than the bid price, and to tell Nasdaq in writing that it intends to cure the deficiency, including by a reverse stock split if necessary. If the company does not qualify for the second period, or does not regain compliance within it, Nasdaq will issue a delisting determination, and the company can appeal that determination to a Hearings Panel.
The company's financial results
The company's annual report on Form 10-K, filed March 28, 2025, covers 2024 and 2023. Revenue was $72,102 in both years. The report ties that revenue to an Aikido license and sublicense agreement, and says it is recognized over the estimated 15-year term of the related UMB license agreement. Operating expenses rose to $4,771,958 in 2024 from $3,921,856 in 2023, and the net loss widened to $4,392,880 from $3,700,683.
Research and development expense was $2,368,156 in 2024, against $845,092 in 2023, an increase of 180.2%. The report ties the increase to investigator-sponsored study agreements and other research projects with third-party vendors and universities. Professional fees fell to $1,198,745 from $1,726,061. Compensation expense was $906,773, up from $871,625, and selling, general and administrative expenses were $298,284, down from $479,078. Other income, net, was $312,814 in 2024 and $224,509 in 2023.
The report also describes stock repurchases. Silo bought 252,855 shares for $471,121 in 2023 and 102,855 shares for $173,113 in 2024. In total it repurchased 355,710 shares for $644,234 under a repurchase program. All of those treasury shares were cancelled in 2024.
The pipeline
The 10-K describes SPC-14 as a candidate for Alzheimer's disease, under a sponsored research agreement with Columbia University that was extended on October 13, 2022. The company says it has an option to license certain assets, including SPC-14, for that indication. The company says it believes SPC-14 has shown efficacy against luteinizing hormone in attenuating learned helplessness, preservative behavior and hyponeophagia, which is a measure of anxiety. That is the company's own assessment, and the report passage cites no human data for SPC-14.
The second candidate, SPU-16, is aimed at central nervous system disorders with an initial indication in multiple sclerosis. Silo licenses it from the University of Maryland, Baltimore under a master license agreement dated February 12, 2021, and a related patent, US 11,766,403 B2, was issued on April 11, 2023. The company believes SPU-16 offers a competitive advantage because it uses homing peptides to reduce toxicity while enhancing therapeutic payload delivery.
What the notice leaves open
The 8-K says the company intends to monitor its bid price and may consider a reverse stock split, but it does not give a cash balance, a share count or a split ratio. The company's results show research spending rising sharply while revenue remained at $72,102 in both years, and the 8-K does not describe how the company plans to fund that spending.