Here is what I found online:

"Vetbond by 3M (3 mL) is an n-butyl cyanoacrylate adhesive, which will bond tissue together and form a flexible wound barrier in a variety of veterinary procedures, often eliminating the need for sutures and/or bandages. The adhesive is also a haemostatic agent. It contains a blue indicator for good visualization, and is supplied in a handy, squeezable bottle with a narrow tip to dispense small drops."


It says it is a acts as a hemostatic agent (stops bleeding) and that might be the case for very small wounds. But trying to close a bloody wound is not appropriate. Bleeding should be controlled first and the wound clean before closing. Skin glue works great for small wounds, particularity on hands and faces where bandages are hard to use. It also works great when the wound might be exposed to water or dirt.