Presenting at a prestigious event like the ARVO 2024 Annual Meeting enhances the company's visibility and credibility in the pharmaceutical and biotech industry. The focus on a novel treatment for ocular diseases using synthetic cannabinoids could position Skye Bioscience as a leader in cannabinoid-based therapeutics, attracting investor attention and potentially leading to a positive short-term impact on its stock price. The confidence score reflects the innovative nature of the research and its potential market impact, though the actual market response will depend on further development milestones and regulatory approvals.