Skye Bioscience Inc (OTCMKTS:SKYE) Stock Recovers a Bit
The pharmaceutical firm Skye Bioscience Inc (OTCMKTS:SKYE) is involved in the development of a proprietary synthetic CBD derivative for the purpose of treating glaucoma.
Trading Data
On Friday, SKYE stock soared 1.47% to $0.0138 with more than 315.12K shares, compared to its average volume of 1.23 million shares. The stock moved within a range of $0.0136 – 0.0150 after opening trade at $0.0136.
Skye Bioscience Receives Positive Safety Review of Fifth Cohort of Phase 1 Study of SBI-100 Ophthalmic Emulsion
Last Friday the company announced that the fifth cohort of the data from the Phase 1 clinical trial for the product SBI-100 Ophthalmic Emulsion had been reviewed by the safety review committee. Upon the review, the committee provided its approval for the escalation to the final and sixth cohort of healthy subjects which would consist of healthy subjects. It would commence in early June. The data that had been released as part of the Phase 1 study was consistent with the findings from the previous study.
In each of the cohorts, six subjects had been administered with the product and two other were administered placebo. The product in question is a novel therapeutic that had been formulated from synthetically derived molecules and offered in the form of an eye drop. It deploys a proprietary nanoemulsion so as to make the delivery of the eye drop far more effective. The product had also delivered effective results when it had been part of animal studies as a monotherapy and also in combination with standard medications.
