Development stage biopharmaceutical company specializing in merging traditional therapeutics with psychedelics research Silo Pharma Inc. (OTCMKTS: SILO) announced having submitted an application for Nasdaq up-listing on May 25.
Silo Pharma is seeking to get up-listed from the OTC markets to the mainstream Nasdaq capital market.
Not long ago, the company had said that its board was holding meetings linked to Nasdaq up-listing and once the board approved the up-listing the decision would be announced.
Following this Nasdaq up-listing filing, Silo Pharma is now subject to several regulatory requirements including the regulator reviewing the company before granting the approval.
The Chief Executive Officer of Silo Pharma, Eric Weisblum, says the company has been contemplating an up-listing since last year further adding it will be a major milestone for the company once approved by the regulator.
“After the exciting progress we have made over the last year, up-listing to the NASDAQ is the next strategic step for Silo Pharma. A Nasdaq listing should provide greater liquidity for our investors, attract institutional investors, increase the visibility of the Company and raise our overall profile,” said the CEO.