Silo Pharma, Inc. reported a net loss of $832,829 for the three months ended June 30, 2026, compared to a net loss of $1,204,293 for the same period in 2025, marking a decrease of 30.8%. For the six months ended June 30, 2026, the company recorded a net loss of $2,479,946, an increase from a loss of $2,235,730 in the prior year. The company did not generate any revenue during the second quarter of 2026, a significant decline from $18,025 in the same quarter of 2025. This drop in revenue is attributed to the expiration of a license agreement with Aikido Pharma, which led to the cessation of revenue recognition related to that agreement.
Operating expenses for the second quarter of 2026 totaled $928,949, down from $1,265,117 in the same quarter of 2025, primarily due to reduced research and development costs. The company spent $298,418 on research and development in the second quarter of 2026, a decrease of 58.4% from $717,247 in the prior year. The overall decrease in operating expenses reflects the company's strategic focus on managing costs while navigating its developmental stage. Other expenses, including compensation and professional fees, saw slight increases, with total operating expenses for the first half of 2026 amounting to $2,520,947, compared to $2,375,804 in the same period of 2025.
Silo Pharma's total assets decreased to $5,952,023 as of June 30, 2026, down from $7,605,100 at the end of 2025. This decline was primarily driven by a reduction in cash and cash equivalents, which fell to $3,277,095 from $4,748,700. The company’s working capital also decreased to $4,647,793, a drop of 31% from $6,737,542 at the end of 2025. The increase in current liabilities, particularly due to the reclassification of deferred revenue to a contingently returnable sublicense fee, contributed to this decline.
In terms of strategic developments, Silo Pharma formed a new subsidiary, Qwikagentsai Inc., in April 2026, aimed at diversifying into artificial intelligence technology. The company also executed a reverse stock split on June 2, 2026, to enhance its stock price and attract institutional investors. Looking ahead, Silo Pharma plans to leverage its cryptocurrency treasury strategy and continue developing its therapeutic candidates, including SPC-15 for PTSD and SP-26 for fibromyalgia, while managing its financial resources to support ongoing operations and research initiatives. The company believes it has sufficient cash and liquid short-term investments to meet its obligations for at least the next twelve months.
About Silo Pharma, Inc.
Silo Pharma, Inc. is a biopharmaceutical company developing therapies for underserved neurological and psychiatric conditions, including PTSD, anxiety, fibromyalgia, and Alzheimer's disease. Its focus includes traditional drugs and psychedelic formulations like psilocybin and ketamine. The company collaborates with academic institutions, licenses proprietary technologies, and advances drug candidates through preclinical and clinical stages, aiming to address unmet medical needs with innovative delivery methods and targeted treatments.
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