Skye plunges as weight-loss drug misses main goal in mid-stage study

Skye Bioscience

06/10/2025 18:51

Updates

** Shares of drug developer Skye Bioscience SKYE.O fall 61.1% to near five month low of $1.85

** Patients receiving the drug, nimacimab, lost 1.26% of their body weight, when adjusted for placebo rates, lower than the company's expectations of a 5% to 8% reduction

** SKYE says the study results potentially indicate the need for higher dosing of the drug as a monotherapy

**  "The bottom line is we aren't convinced yet from the data reported today, and it will remain a 'show me' story if higher doses/better exposure can lead to enough weight loss to be competitive" - Cantor Fitzgerald

** Including session moves, stock down 33.2% YTD

 (Reporting by Christy Santhosh and Sneha S K)

 ((Christy.Santhosh@thomsonreuters.com))