The CBD-based medicine space has grown by leaps and bounds in recent years with many companies have entered the fray.
One of the companies that could be tracked at this point is Skye Biosciences Inc (OTC: SKYE). The biopharmaceutical company is involved in developing molecules derived from CBD and earlier this week, it made a major announcement with regards to its product THCVHS. As a matter of fact, the stock has also managed to gather momentum in recent times and that is something that investors need to keep in mind as well.
The company announced that those who used its product THCVHS in the preclinical assessment did not experience any irritation in their eyes. That is a highly positive development for the company and one that seems to have been the reason behind the rising momentum in the stock. It now remains to be seen if momentum in the Skye stock can lead to meaningful gains or not.