Skye Bioscience to Present at Jefferies Healthcare Conference

Skye Bioscience, Inc. (Nasdaq: SKYE), a biotechnology enterprise in the clinical phase, specializing in the innovation, growth, and marketing of unique therapeutic drugs targeting the endocannabinoid system, has released notable updates. The company’s CEO and Chair, Punit Dhillon, will provide a company overview at the Jefferies Global Healthcare Conference in New York, occurring from June 5th to 6th. The presentation is scheduled for June 5th at 5:00 p.m. Eastern Time.

Skye's focal point is harnessing the potential of the endocannabinoid system to address diseases linked to metabolic, inflammatory, and fibrotic processes. Supported by prominent life science investors, Skye's approach involves targeting biological mechanisms with proven human efficacy to create pioneering therapeutics that stand out in clinical and commercial terms. Their lead product, Nimacimab, is an antibody that reduces the activity of peripheral CB1 receptors. A Phase 1 study indicated that Nimacimab has a positive safety and tolerability profile. Skye plans to initiate a Phase 2 trial for obesity, comparing the effects of Nimacimab as a monotherapy and in combination with a GLP-1R agonist, projected for mid-2024.

Additionally, Skye has concluded enrollment for a Phase 2 trial of SBI-100 Ophthalmic Emulsion, another CB1 agonist, aimed at treating patients with glaucoma and ocular hypertension. The initial results from this study are anticipated by the second quarter of 2024.

Skye's mission is to tap into the endocannabinoid system's pharmaceutical capabilities to develop treatments for conditions driven by metabolic, inflammatory, and fibrotic processes. The company's strategy, underpinned by leading investors in life sciences, aims to leverage biological targets with verified human mechanisms to develop innovative therapeutics that promise significant clinical and market advantages.

Nimacimab, Skye's negative allosteric modulating antibody, has shown a favorable safety and tolerability profile. A Phase 2 trial is on the horizon, focusing on its application in addressing obesity, with comparisons between monotherapy and a combined treatment with a GLP-1R agonist slated for mid-2024.

In another significant development, Skye has completed participant enrollment for a Phase 2 study of SBI-100 Ophthalmic Emulsion. This compound, a CB1 agonist, is being investigated for its efficacy in patients with glaucoma and ocular hypertension, with top-line data expected in the second quarter of 2024.

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