Silo Pharma stock soars due to $1 million share repurchase plan

2026-02-24 00:45:36

Abstract generation in progress

Investing.com – Silo Pharma Inc (NASDAQ:SILO) stock surged 35.1% in after-hours trading on Monday after the company announced that the board of directors authorized a share repurchase program to buy back up to $1 million worth of common stock.

This development-stage biopharmaceutical company focuses on combining traditional therapies with psychedelic research. The company stated that it may purchase shares through open market transactions, private negotiations, or other methods, in compliance with SEC rules and other applicable legal requirements.

According to the quarterly report ending September 30, 2025, as of November 13, 2025, Silo Pharma has issued 13,318,273 shares of common stock.

CEO Eric Weisblum said the company believes the current capital market conditions should enable it to create more value for shareholders through the buyback program. He added that the board and executive team remain committed to generating value for shareholders.

The timing, number of shares, and purchase price under the program will depend on market conditions and company and regulatory restrictions, including lock-up periods. The company noted that the buyback program does not obligate it to purchase any specific number of shares and may be suspended or terminated at any time.

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