Skye Bioscience Stock Price, News & Analysis

Skye Bioscience (OTCQB: SKYE) has appointed Rhea Williams, MPH, as Head of Regulatory Affairs & Quality Assurance and Varun Khurana, PhD, as Senior Director of Research & Development. Williams has over 25 years of experience in drug development across multiple disease areas. Khurana brings over seven years of expertise in drug formulation and development, having previously worked at GlaxoSmithKline. The company aims to initiate its first-in-human trial for glaucoma, signaling an important phase in its growth strategy.

Skye Bioscience, Inc. (OTCQB: SKYE) has appointed Kaitlyn Arsenault, CPA, as its new Chief Financial Officer. With over 14 years of experience in financial reporting and operations, Arsenault previously served as an independent consultant for emerging companies, including Skye. CEO Punit Dhillon highlighted her expertise in financial controls and reporting as crucial for the company's clinical development and growth objectives. Arsenault expressed commitment to advancing Skye's financial priorities and stakeholder commitments.

Skye Bioscience (SKYE) has successfully closed a registered direct offering, selling 77,777,779 shares of common stock and warrants at an effective price of $0.09 per share, grossing approximately $7 million. The proceeds will support general corporate purposes, including working capital and potential acquisitions. The warrants are exercisable immediately and expire in five years. CEO Punit Dhillon emphasizes that this financing positions the company to advance its drug candidate for glaucoma and enhance its pharmaceutical cannabinoid R&D initiatives, aiming to build shareholder value.

Skye Bioscience (OTCQB: SKYE) has announced a registered direct offering of 77,777,779 shares of its common stock and warrants, priced at $0.09 per share, yielding expected gross proceeds of approximately $7.0 million. The offering is set to close around September 29, 2021. Proceeds will be used for general corporate purposes, including working capital and potential acquisitions. The offering is conducted under an effective SEC registration statement. H.C. Wainwright & Co. serves as the exclusive placement agent.

Skye Bioscience (OTCQB: SKYE) announced that its research partner, the University of Mississippi, will present new preclinical data on its prodrug, THCVHS, at the AAPS PharmSci 360 conference from October 17-20, 2021. The data demonstrates the effectiveness of THCVHS nanoemulsion formulations in lowering intraocular pressure in dutch belted rabbits, especially when used with netarsudil, a rho-kinase inhibitor. Key presentations will occur on October 18 and 19, showcasing the potential of THCVHS in addressing glaucoma, a leading cause of irreversible blindness.

Skye Bioscience, Inc. (OTCQB: SKYE) announced a virtual investor presentation scheduled for October 12, 2021, at 1 p.m. ET, focusing on the company's strategic direction for 2022 and updates on its glaucoma treatment program. The event will feature Skye's management team and advisory board members, followed by a Q&A session. Investors can submit questions by September 28, 2021, and must register in advance to attend. Skye is dedicated to developing cannabinoid-derived therapies for significant health issues, with its lead program targeting glaucoma.

Skye Bioscience, Inc. (OTCQB: SKYE) announced its participation in the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. CEO Punit Dhillon will present on-demand on September 13 at 7:00 AM ET, accessible via webcast and archived on the company’s Investor Relations site for 90 days. Additionally, Dhillon and senior management will conduct virtual one-on-one meetings with institutional investors during the event. Skye is focused on developing synthetic cannabinoid-derived therapies for unmet medical needs, particularly its lead program targeting glaucoma.

Skye Bioscience (OTCQB: SKYE) announced that Karam Takhar, VP of Corporate Development, will virtually present at the H.C. Wainwright Ophthalmology Conference on August 17 at 7:00 AM ET. The management team will also be available for one-on-one meetings during the event. Skye Bioscience develops cannabinoid-derived therapeutics aimed at addressing unmet medical needs, with its lead program targeting glaucoma, a major cause of blindness. Interested investors should contact their H.C. Wainwright representative for meeting arrangements.

Skye Bioscience has successfully completed genotoxicity studies of its proprietary synthetic cannabinoid THCVHS, a potential treatment for glaucoma. These studies, conducted under Good Laboratory Practices, indicated no chromosomal or gene mutations, a prerequisite for initiating Phase 1 clinical trials in Australia. CEO Punit Dhillon emphasized the significance of these findings for advancing to human trials and noted THCVHS's ability to lower intraocular pressure with minimal systemic exposure.