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The Company provided TraDigital with publicly available sources of information for its marketing materials and reviewed the factual accuracy of the source materials used in the Campaign. The Company does not believe the statements in the marketing materials and newsletter emails were materially false or misleading. However, the Company did not have the opportunity to review and comment on the copy material which formed the e-mail material published by Traders News Source and Broad Street Alerts prior to publication. As a result, upon becoming aware of the content included in the Campaign, the Company is evaluating the content to ensure compliance with the OTC Policy on Stock Promotion.
The Company understands this Campaign coincided with a recently increased trading activity in the common shares of the Company. The Company has no opinion as to whether or not and/or the extent to which the Campaign affected trading activity because of the many factors that affect trading activity generally, which may include general investor relations activities as well as the volatile nature of the industry in which the Company is involved, the concurrent development milestones achieved, the issuance of a news release regarding a Company license agreement, the concurrent issuance of relevant industry news, and the effects of a PIPE financing and merger completed in
After inquiry of management, directors, control persons, and third-party service providers, it has been determined that the Company, its officers, directors, controlling shareholders, or any third-party service providers have not sold or purchased the Company's securities within the past 90 days with the exception of a third party service provider,
Over the preceding 12 months, in addition to the above disclosed engagement with TraDigital, the Company has also worked with third party contractual service providers including
About
Skye is focused on unlocking the pharmaceutical potential of the endocannabinoid system to treat diseases with inflammatory, fibrotic, and metabolic processes. Backed by leading life science venture investors, Skye's strategy leverages biologic targets with substantial human proof of mechanism for the development of first-in-class therapeutics with significant clinical and commercial differentiation. Nimacimab, a negative allosteric modulating antibody, inhibited peripheral CB1 with a favorable safety and tolerability profile in a Phase 1 study. Skye plans to start a Phase 2 cardiometabolic-focused study encompassing obesity for nimacimab in H1 2024. SBI-100 Ophthalmic Emulsion, a CB1 agonist, is currently being studied in a Phase 2 study with patients with glaucoma and ocular hypertension.
Contact:
Email: ir@skyebioscience.com
Tel: (858) 410-0266
Email: mmoyer@lifesciadvisors.com
Tel: 617-308-4306
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including statements regarding our product development, business strategy, timing of clinical trials and commercialization of cannabinoid-derived therapeutics. Such statements and other statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. In some cases, forward-looking statements can be identified by terminology including 'anticipated,' 'plans,' 'goal,' 'focus,' 'aims,' 'intends,' 'believes,' 'can,' 'could,' 'challenge,' 'predictable,' 'will,' 'would,' 'may' or the negative of these terms or other comparable terminology. We operate in a rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Risks and uncertainties that may cause actual results to differ materially include, among others, our capital resources, uncertainty regarding the results of future testing and development efforts and other risks that are described in the Risk Factors section of Skye's most recent annual or quarterly report filed with the
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