aibioSilo Pharma gets Nasdaq minimum bid price notice, has until December 24, 2025 to regain compliance
Tickers SILO
Nasdaq notified Silo Pharma on June 27, 2025 that its common stock has not met the $1.00 minimum bid price. The company has until December 24, 2025 to regain compliance, and may consider a reverse stock split if needed.
Key facts
- Company
- Silo Pharma, Inc. (NASDAQ: SILO)
- News type
- Listings
- Primary source
- Silo Pharma, Inc. Form 8-K filed July 3, 2025 (SEC EDGAR)
Silo Pharma, Inc. (Nasdaq: SILO) received a notification from Nasdaq on June 27, 2025 that its common stock is not meeting the $1.00 minimum bid price for continued listing on the Nasdaq Capital Market. The company reported the notice in a Form 8-K filed July 3, 2025 under Item 3.01. Nasdaq based the notice on closing bid prices from May 14, 2025 to June 26, 2025.
What Nasdaq requires
Nasdaq Listing Rule 5550(a)(2) requires a minimum bid price of $1.00 a share. Under Rule 5810(c)(3)(A), a failure exists when the deficiency continues for 30 consecutive business days. 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 December 24, 2025, Nasdaq may grant a second 180-day period. The company qualifies only if it meets the continued listing requirement for market value of publicly held shares, meets the other initial listing standards apart from the bid price, and gives Nasdaq written notice that it intends to cure the deficiency during the second period, by reverse stock split if necessary. If the company does not qualify, or fails to cure within the second period, Nasdaq will issue a delisting determination, which the company can appeal to a Hearings Panel.
The 8-K says the letter has no immediate effect on the listing or trading of the shares, which continue to trade under the symbol "Silo". The company says it intends to monitor its bid price and may consider implementing available options, including a reverse stock split.
The company's finances
The 2024 annual report on Form 10-K shows an accumulated deficit of $15,264,691 at December 31, 2024. Working capital was $5,455,483 at that date. The annual report says the positive working capital helps offset conditions that historically raised substantial doubt about the company's ability to continue as a going concern. It also says the company believes it has enough cash to meet its obligations for at least twelve months from the date of that filing.
The share count is small. The 10-K reports 4,484,456 shares of common stock outstanding as of March 26, 2025.
The pipeline
Silo describes itself as developing psychedelic and conventional therapeutics. Its lead program, SPC-15, is an intranasal drug for post-traumatic stress disorder and stress-induced anxiety. SP-26 is a time-release ketamine-based implant for fibromyalgia and chronic pain. The annual report also describes two preclinical programs, including SPC-14, an intranasal compound for Alzheimer's disease.
The annual report flags several risks in the sector. Psilocybin is a Schedule I substance under the Controlled Substances Act, and the company's risk factors warn that public controversy over psychedelic treatments may affect its programs. The filing also says that candidates that obtain regulatory approval will face ongoing obligations and continued regulatory review, which may result in significant additional expense. The 8-K discloses no trial results.
What comes next
Silo has until December 24, 2025 to bring its bid price back above $1.00 for 10 consecutive business days. If it does not, it may qualify for a second 180-day period. The company says it may consider a reverse stock split, and the 8-K gives no date for any board action on one.