LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Skye Bioscience, Inc. (“Skye” or “the Company”) (NASDAQ: SKYE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Skye issued a press release on June 10, 2024, “announcing that its Phase 2a clinical trial of SBI-100 Ophthalmic Emulsion (“OE”) in patients with primary open-angle glaucoma “POAG”) or ocular hypertension (“OHT”) did not meet its primary endpoint for lowering intraocular pressure (“IOP”). Skye intends to discontinue clinical development and spending related to SBI-100 OE and any R&D associated with SBI-100, including its ophthalmology pipeline, and direct all clinical development resources to its metabolic program, extending its operating runway into 2027.” Based on this news, shares of Skye fell by 8.78% on the same day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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