Welcome to our dedicated page for Skye Bioscience news (Ticker: SKYE), a resource for investors and traders seeking the latest updates and insights on Skye Bioscience stock.
Skye Bioscience, Inc. (Nasdaq: SKYE) is a cutting-edge, clinical-stage biopharmaceutical company based in San Diego, California. Focused on the development of innovative therapies, Skye leverages the endocannabinoid system to address diseases characterized by metabolic, inflammatory, and fibrotic processes.
The company's prominent clinical candidates include nimacimab and SBI-100 Ophthalmic Emulsion (SBI-100 OE). Nimacimab is a groundbreaking humanized monoclonal antibody that functions as a negative allosteric modulator of the cannabinoid 1 receptor (CB1). By targeting CB1 in peripheral tissues, nimacimab aims to treat diseases like obesity, chronic kidney disease, and metabolic dysfunction-associated steatohepatitis (MASH) without the central nervous system (CNS) side effects that plagued earlier CB1 inhibitors. Currently, Skye is gearing up for a Phase 2 clinical trial of nimacimab in patients with obesity and chronic kidney disease, expected to begin in mid-2024.
Meanwhile, SBI-100 OE is under investigation for its potential to lower intraocular pressure in patients suffering from glaucoma and ocular hypertension. Although the Phase 2a trial did not meet its primary endpoint for reducing intraocular pressure, the drug demonstrated a favorable safety profile, paving the way for further research and development.
Recent news highlights Skye's strategic focus and financial stability. As of June 2024, the company announced the discontinuation of clinical development for SBI-100 OE, allowing Skye to redirect resources fully towards its metabolic program, extending its operational runway into 2027. Backed by leading life science venture investors, including Perceptive Advisors and 5AM Ventures, Skye successfully raised $90.25 million through two private placements in the first quarter of 2024, ensuring robust financial resources to support its ambitious clinical development plans.
For more information, please visit the company's website at www.skyebioscience.com.
Skye Bioscience (Nasdaq: SKYE), a clinical-stage biotech firm, will present at the Jefferies Global Healthcare Conference in NYC from June 5-6, 2024. CEO and Chair Punit Dhillon will outline the company's progress in obesity and glaucoma treatments on June 5 at 5:00 p.m. ET. A webcast of the presentation will be available.
Skye Bioscience presented new data at the ARVO 2024 Annual Meeting showcasing a novel library of synthetic cannabinoids for ocular diseases. The study focused on dry eye disease and chronic ocular pain, identifying three potential therapeutic candidates with innovative mechanisms of action. Skye aims to develop drugs modulating the endocannabinoid system to treat diverse ocular pathologies.
Skye Bioscience, Inc. (Nasdaq: SKYE) will present two posters at the ARVO 2024 Annual Meeting focusing on their Phase 1 study of a novel ocular drug and the development of synthetic endocannabinoid agonists. The event will take place in Seattle, Washington from May 5-9, 2024.
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