Chronic pain conditions are notoriously difficult to treat. But could psychedelic medicines change that?

‍What’s happening:‍

• Psychedelic biopharmaceutical company Silo Pharma (NASDAQ: SILO) has received regulatory approval to advance their novel time release ketamine implant into preclinical research
  
• Silo Pharma’s drug, which is known as SP-26, is being designed to be a first of its kind at home therapeutic for fibromyalgia patients that will use time release to diminish the hallucinogenic aspects of ketamine in order to focus on providing pain relief
  

Why it matters:‍

• Fibromyalgia is a long term condition which causes pain all over the body and has very few effective treatment options, often leading patients to have to mix multiple medications together which cause side effects and tolerability issues
  
• Psychedelic compounds could potentially unlock a whole new set of therapeutic treatments for fibromyalgia and other chronic pain conditions
  

Going deeper:‍

• Silo Pharma received positive compliance inspections from the Drug Enforcement Agency which has allowed them to begin working directly with ketamine and loading it into their implant device
  
• Preclinical research for SP-26 will be focused around measuring the safety of ketamine to ensure it meets the FDA’s standards for what can be classified as an at home therapeutic drug