News: Skye Bioscience and Tautomer Bioscience Enter Exclusive License for SBI-100 for Development and Sale of Products for Chronic Pain and Other Indications in South Africa and Rest of Africa
Silk Purse Stock...
Reverse Stock Split to Be Effective on September 8th
Press Release | 09/07/2023
San Diego, California--(Newsfile Corp. - September 7, 2023) - Skye Bioscience, Inc. (OTCQB: SKYE) ("Skye"), a pharmaceutical company developing proprietary medicines that modulate the endocannabinoid system to treat diseases with inflammatory, fibrotic, and metabolic processes, announced today that the previously announced 1-for-250 reverse stock split of its issued and outstanding common stock will become effective on Friday, September 8th. Skye's common stock is expected to begin trading on a split-adjusted basis when the market opens on Friday, September 8th. Skye will continue to trade on the OTCQB® Market under the symbol SKYE, although the letter "D" will be temporarily appended to the ticker symbol for twenty (20) trading days following the reverse split.
As a result of the reverse stock split, each 250 pre-split shares of common stock outstanding will automatically be combined into one issued and outstanding share of common stock. No fractional shares of common stock will be issued as a result of the reverse stock split. Each fractional share will be rounded up to one whole share. The new CUSIP for the common stock following the reverse stock split will be 83086J200.
Following the reverse stock split, the total number of authorized shares of common stock will be 20,000,000 and approximately 12,312,551 shares of common stock will be issued and outstanding. Each stockholder's percentage ownership interest in Skye and proportional voting power will remain virtually unchanged except for minor changes and adjustments that will result from rounding fractional shares into whole shares. The rights and privileges of the holders of shares of common stock will be substantially unaffected by the reverse stock split. Under Nevada law, because the reverse stock split was approved by the Board of Directors of Skye in accordance with NRS Section 78.207, no stockholder approval is required.
Stockholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse stock split.
About Skye Bioscience
Skye is focused on unlocking the pharmaceutical potential of the endocannabinoid system, initially through modulation of the CB1 receptor, to treat diseases with inflammatory, fibrotic, and metabolic processes. Backed by leading biotechnology venture investors, Skye's strategy leverages biologic targets with substantial human proof of mechanism for the development of first- and only-in-class therapeutics with significant clinical and commercial differentiation. SBI-100 Ophthalmic Emulsion is a CB1 agonist that is a potential treatment for glaucoma and is expected to start a Phase 2 clinical trial in Q4 2023. Nimacimab, a negative allosteric modulating antibody, inhibits peripheral CB1 with unprecedented safety and tolerability. A Phase 2 basket study for chronic kidney disease is expected to start in 2024. Skye is evaluating potential development paths for nimacimab related to obesity/weight loss. For more information, please visit: https://www.skyebioscience.com.
CONTACT Investor Relations Email: ir @logman
This press release contains forward-looking statements, including statements regarding our product development, business strategy, timing of clinical trials and commercialization of cannabinoid-derived therapeutics. Such statements and other statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including "anticipated," "expects," "plans," "goal," "focus," "aims," "intends," "believes," "can," "could," "challenge," "predictable," "will," "would," "may" or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, our capital resources, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of Skye's most recent annual or quarterly report filed with the Securities and Exchange Commission. Except as expressly required by law, Skye disclaims any intent or obligation to update these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179893
Don't live for the approval of others. Only person who can approve what you do is YOU.
NEWS: Skye Bioscience Doses Third Cohort of Phase 1 Clinical Trial of SBI-100 Ophthalmic Emulsion
San Diego, California--(Newsfile Corp. - March 7, 2023) - Skye Bioscience, Inc. (OTCQB: SKYE) ("Skye" or the "Company"), a pharmaceutical company developing a proprietary, synthetic cannabinoid derivative to treat glaucoma and ocular hypertension, has completed dosing of the third cohort of eight healthy participants in its Phase 1 clinical trial of its lead product candidate, SBI-100 Ophthalmic Emulsion ("OE"), a cannabinoid receptor type 1 ("CB1R") agonist administered topically onto the eye. The study's safety review committee ("SRC") provided a positive recommendation following a pre-specified review of the data from the second cohort of participants. The SRC also recommended the trial advance into the multiple ascending dose ("MAD") arm of the study. Skye has submitted to the human ethics review committee ("HREC") for approval to initiate the MAD arm.
The objective of this Phase 1, randomized, double-masked, placebo-controlled study is to evaluate the safety, tolerability and pharmacokinetics of SBI-100 OE. Changes in intraocular pressure will also be evaluated. Approximately 48 subjects are divided into three single ascending dose ("SAD") and then three subsequent MAD cohorts, with six participants receiving drug and two participants receiving placebo in each cohort. In the third and final SAD cohort, participants administered drug received a single topical dose of SBI-100 OE at a concentration of 2.0%, compared to concentrations of 0.5% and 1.0% in the first and second SAD cohorts.
Skye's SBI-100 OE possesses a novel molecular structure and nanoemulsion formulation that were designed to enable effective topical delivery and better penetration of a CB1R agonist into ocular tissue. In preclinical studies involving three different species, the drug resulted in enhanced therapeutic efficacy and duration of response in lowering IOP, comparing favorably to the standard of care for treating glaucoma.
Skye Bioscience Obtains Central IRB Approval for Phase 2 Clinical Trial with SBI-100 Ophthalmic Emulsion
News: Pii Congratulates Skye Bioscience for First-in-Human Phase 1 Trial of Proprietary Cannabinoid Derivative and Nanoemulsion Formulation Designed to Potentially Treat Glaucoma.
#DDAmanda / #8KSpy alert....... 8K Filed........
Skye Bioscience Doses First Cohort of Participants in Phase 1 Clinical Trial of SBI-100 Ophthalmic Emulsion
Chris Twitty connections : ZyVersa Therapeutics to go public through deal with SPAC Larkspur Health Acquisition,
Yeah , sure but that being said it doesn't figure that you would not research the management of this Team and family member Avtar Dillion who just plead guilty to the SEC x 3 counts .
especially with your impressive Resume' .....
You got something to say to someone why don't you say something meaningful don't breathe?
Out here I'm trying to make some risk liquidity and some investment and avoid dilution should that be done as any part of investing son?
FWIW: SBI-100's pre-clinical trial data showed stronger and longer-lasting reduction in IOP compared to Xalatan/Latanoprost, already giving it the edge in terms of efficacy. If it's found to also offer neuroprotection that would make it clearly superior to its competitors. (See https://www.biospace.com/article/releases/skye-bioscience-reports-potential-neuroprotective-benefit-of-sbi-100-in-preclinical-glaucoma-model/)
I can't answer the market share / reinvention questions; they're above my pay grade. GLTA!
WTF? ......I only made it up to ILLliterate .
There are currently no less than 5 prescription medications available for IOP disorder , the most commonly prescribed would be Xalatan . if Skye got SBI-100 all the way through FDA approval , Why would this product be superior ?
and ....thus prescribed more so than the widely known Xalatan ?
what kind of market share $$$ are we talking to re-invent the wheel ?
This post makes no sense
Taking in ask no in excuse longs? this could go major dollars meeting fiduciary judicatory "REQUIREMENTS INTERESTS in longs on way pay the fortunate?
Skye Bioscience Stockholders Vote in Favor of Arrangement Agreement with Emerald Health Therapeutics, Inc.
Our lead candidate, THCVHS, a proprietary prodrug of tetrahydrocannabinol (THC), is a topical formulation under development for the treatment of glaucoma and ocular hypertension (OHT).
Previous US government studies in humans discovered that THC was able to reduce intraocular pressure (IOP), which is in part responsible for the crush-like injury to the cells of the optic nerve that can eventually result in blindness. Additional preclinical studies have shown the potential for THC to also provide neuroprotective benefit, which may be especially important to patients with glaucoma who are experiencing disease progression with normal IOP levels.
One of the major drawbacks of previous studies of the use of THC for glaucoma was that they relied on inhalation or ingestion of THC. These systemic routes of drug administration cause negative side effects like psychotropic effects and potentially decreasing blood pressure , which resulted in the American Academy of Opthamology determining that the adverse effects of systemic cannabis administration/consumption outweighed its therapeutic benefit.
At Skye Bioscience, we chemically modify THC to create a unique synthetic molecule with the intent to safely realize the known positive effects of THC. Our molecule enables enhanced local delivery in the eye, reduced systemic side effects, and the potential for neuroprotection for the treatment of ocular diseases.
Glaucoma is a group of eye diseases that can cause vision loss and blindness by damaging a nerve in the back of the eye called the optic nerve. Damage to the optic nerve is caused by increased intraocular pressure (IOP) due to improper drainage and/or overproduction of fluid in the eye.
According to the American Academy of Ophthalmology, glaucoma affects over 75million people worldwide and is the leading cause of blindness in adults aged 60 and older.
Current therapies can lower IOP but progressive tolerance requires switching or combining drugs. They do NOT provide neuroprotective capabilities.
In preclinical studies, Skye’s THCVHS demonstrated the potential to significantly reduce intraocular pressure (IOP) – exceeding the capabilities of leading commercialized drugs in the current glaucoma market.
Additionally, it has been demonstrated:
We develop novel and proprietary classes of synthetic molecules through the modification of naturally derived systems.
Shifting the solutions paradigm on a effective treatment of diseases through the development of novel neuroprotective solutions.
The foundation of Skye Bioscience.
Solving unmet needs of diseases with limited treatment offerings.
Commercial differentiated applications to provide therapeutic benefits.
Change makers. Platform solutions that can extend beyond a single disease.
Mr. Dhillon was the co-founder, CEO, and director of OncoSec Medical Inc., a leading biopharmaceutical company developing cancer immunotherapies for the treatment of solid tumors.
Mr. Diep brings more than 15 years of scientific and clinical research experience to Skye Bioscience. Prior to joining Skye, Mr. Diep was at Protox Therapeutics Inc.
Richard has more than 30 years of business experience and served as a Vice President to CFO on multiple companies in a wide range of industries both public