Skye Bioscience Inc (SKYE)

[Closewatcher]

Wouldn't get beat up about it. Partnerships for early trials are less likely and less important because theyre smaller sample sizes and are testing for safety primarily, and they cost a fraction of the price.

Broad Phase 3 trials (and can be multiple phase 3 designed differently) are where you start to hit the 100-200+ million mark for completion, which is where a partnership would be critical.

Nauseating at the moment, yes, but this is biotech to the T.
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Take a gander at the 5-year chart for Aurinia Pharma. Totally different market with Lupus but you have a dead "downtrend" for 3 years while conducting trials and then a 5-bagger in 2 months on succesful Phase 2. Now they are the crown jewel of clinical-stage biotech.

You saw the hype with $ZYNE. They blew through a $350 mill market cap on hype leading up to Phase 2 trial results. It'll come.