Skye Bioscience Inc. Stock Analysis SKYE

Skye Bioscience, Inc. is a clinical stage biopharmaceutical company, which engages in the development of new medicines that unlock the pharmaceutical potential of the endocannabinoid system to treat diseases caused by metabolic disorders, inflammation, fibrosis, and neurodegeneration. The company is headquartered in San Diego, California and currently employs 12 full-time employees. The company went IPO on 2014-02-24. The firm is focused on development of next-generation molecules that modulate G-protein coupled receptors to treat obesity, overweight, and related conditions. The Company’s lead candidate, nimacimab, is a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1 (CB1). The firm is also focused on its Phase IIa clinical trial, CBeyond, for nimacimab. The CBeyond clinical trial includes approximately 136 patients, 16 clinical trial sites and a combination arm with a GLP-1 receptor agonist to assess differences in weight loss, body composition, and other attributes. The CB1 receptor is one of the receptors in the endocannabinoid system (ECS) and plays a significant role both in the central nervous system (CNS) and peripheral tissues. The firm's Phase II study in obesity for nimacimab, is a negative allosteric modulating antibody that peripherally inhibits CB1.