Skye Bioscience, Inc. - SKYE STOCK NEWS

Skye Bioscience has appointed Keith W. Ward, PhD to its board of directors and promoted Tu Diep, MSc to Chief Development Officer. This leadership change aims to enhance the company's direction in developing cannabinoid-based therapies targeting significant unmet medical needs, particularly in treating glaucoma. Dr. Ward brings over 25 years of industry experience, while Mr. Diep, previously Senior VP of Development, has over 15 years in drug development. The company emphasizes its focus on advancing therapies in a challenging therapeutic landscape.

Skye Bioscience (OTCQB: SKYE) announced that researchers from the University of Mississippi presented two studies at the AAPS PharmSci 360 meeting. The studies focused on the effects of THCVHS, a synthetic cannabinoid, on lowering intraocular pressure (IOP) in glaucoma treatment. Findings revealed that THC-VHS nanoemulsion formulations showed better IOP reduction compared to standard treatments. The company is advancing its clinical strategy, with human trials expected to start in Q2-22, focusing on safety and efficacy for glaucoma treatment.

Skye Bioscience (OTCQB: SKYE) has signed an exclusive research agreement with Emerald Health Biotechnology Espana SLU to develop cannabinoid-derived molecules for therapeutic purposes. This agreement, dubbed the Cannabinoid Pharmaceutical Innovation Program (CPIP), aims to enhance signaling pathways in the endocannabinoid system. Skye will finance the projects and retain rights to all resulting data and intellectual property. The initiative aims to create a portfolio of proprietary products that focus on treating diseases with significant unmet needs, particularly in ophthalmology.

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.