Skye Bioscience slumps on scrapping eye disease treatment development

Skye Bioscience

10/06/2024 12:27

** Shares of drug developer Skye Bioscience  SKYE.O  down
45.2% to $6 before the bell 
    ** Company said it intends to discontinue development of
experimental eye disease treatment after it failed in a
mid-stage study 
    ** Co's experimental treatment, called SBI-100, was being
tested to treat ocular hypertension, and failed to meet its
primary study goal for lowering intraocular pressure 
    ** As of last close, stock up more 302% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))