Silo Pharma Inc. (NASDAQ:SILO) said its board has approved a share repurchase program that allows the company to acquire up to $1,000,000 of its common stock, a move that coincided with a 35.1% increase in the company's shares during after-hours trading on Monday.
The company, described in its filings as a development-stage biopharmaceutical enterprise that integrates traditional therapeutics with psychedelic research, said the repurchases may be executed on the open market, via privately negotiated transactions or by other permitted methods, in each case in compliance with Securities and Exchange Commission rules and other applicable legal requirements.
In its quarterly report for the period ended September 30, 2025, Silo Pharma disclosed that as of November 13, 2025 it had 13,318,273 shares of common stock outstanding. That figure provides context for the scale of the repurchase authorization relative to the company's equity base.
Chief Executive Officer Eric Weisblum stated that management believes the current capital market environment presents an opportunity to capture additional value for shareholders through the repurchase program. He added that both the board and the executive management team remain committed to delivering value to shareholders.
The company emphasized that the timing, number of shares repurchased and the prices paid will be determined by market conditions and subject to corporate and regulatory limitations, including blackout period restrictions. Silo Pharma also noted the program does not obligate the company to acquire any specific number of shares and that the board may suspend or discontinue repurchases at its discretion.
This authorization represents a discretionary capital allocation tool that the company may use to return value to investors, but Silo Pharma made clear it retains flexibility to alter or halt activity depending on circumstances.
Context and implications
- The repurchase authorization is limited to a maximum aggregate value of $1,000,000.
- Repurchases may be executed through multiple channels, including open market and negotiated transactions, subject to SEC rules.
- The program is non-binding and may be modified, suspended or discontinued by the company.