Skye Bioscience discontinues SBI-100 eye disease treatment due to failed mid-stage study, shares drop 41%.
Skye Bioscience has announced the discontinuation of its experimental eye disease treatment, SBI-100, after a mid-stage study failed to meet its intended goal of lowering eye pressure in patients with primary open-angle glaucoma. The company's shares fell by 41% following the announcement. Skye Bioscience intends to direct all clinical development resources to its obesity drug program, extending its operating runway into 2027.
June 10, 2024
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