Skye Bioscience Inc (SKYE)

[Closewatcher]

Its par for the course in biotech. This raise is neccessary and will propel shares to higher valuations. If Murphy & Co wanted less money for less dilution, they wouldve raised less. This isn't their first rodeo.

In theory, and Vinpat has touched base on this, the team believes there is incredible value behind the science and IP, and therefore its only a matter of time before the market catches fire.

Progressing through Phase 2 trials for both CINP & Glaucoma sucessfully with the 20 million (key word SUCCESSFULLY), would blow the share price over $5 even with 100mill fully diluted, and then they can do another moderate raise to finish trials, or partner (which Murphy has said they prefer do to, cough cough, Allergan + Doug Ingram)

Either way, downtrend is a product of bio company tendencies, not anything that Nemus is doing wrong.