Skye Bioscience rises on launch of obesity drug trial

Skye Bioscience

22/08/2024 13:54

** Shares of drug developer Skye Bioscience  SKYE.O  rise
3.3% to $5.67 premarket
    ** Co says it has started screening patients for a mid-stage
study testing its experimental drug to reduce weight in patients
with obesity 
    ** The antibody based drug, nimacimab, targets the
cannabinoid type 1 receptor that regulates cellular functions
and metabolism
    ** The study will assess parameters for sustainability of
weight loss, including gastrointestinal tolerability and lean
mass retention -SKYE
    ** SKYE plans to report interim data from the study in Q2
2025 and final data in Q4 2025
    ** Up to last close, stock more than doubled YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))