Skye Biosciences Inc (OTCMKTS:SKYE) Stock In Focus After Latest Development

Pharmaceutical company Skye Biosciences Inc (OTCMKTS:SKYE), which is involved in the development of synthetic and proprietary CBD derivatives, is in the news this morning after it made a major new appointment.

Market Action

On Tuesday, SKYE stock slid 1.66% to $0.0148 with more than 1.28 million shares, compared to volume of 770.03K shares. The stock moved within a range of $0.0120 – 0.0163 after opening trade at $0.0145.

Skye Bioscience Appoints Chris Twitty, PhD, as Chief Scientific Officer

It emerged this morning that the company hired its very first Chief Scientific Officer in the form of Chris Twitty, who holds a Ph.D. In this situation, it could be a good idea for investors to consider taking a closer look at the credentials of Twitty in this particular role. His experience in the drug development research and life sciences research space spans more than a quarter of a century. He is going to be one of the more important members of the executive team at the company and will also be responsible for heading the strategic development of the scientific efforts of the company.

He has been responsible for significant research and development efforts through the course of his career and has also expanded medicine pipelines at the companies he has been involved with. On the other hand, he has also worked with a range of Investigational New Drug applications through the course of his career. It is going to be interesting to see how he gets along at Skye.

Key Quote

“Skye Bioscience is leveraging synthetic cannabinoids to potentially achieve safe and effective pharmaceutical compounds to treat ocular diseases. I look forward to building on our mechanistic understanding of this important biological system and enhancing our clinical studies by developing complementary biomarker programs,” said Dr. Twitty. “Additionally, I am excited to work with our internal team and strong collaborators to rapidly advance novel therapeutic candidates to further build out Sky Bioscience’s pipeline.”

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