Skye Bioscience Highlights Nimacimab’s Promise in Obesity Treatment, Anticipates Phase 2a Data

Skye Bioscience Inc. (NASDAQ:SKYE) is one of the best hot stocks to buy according to Wall Street analysts. On June 23, Skye Bioscience unveiled its “Anatomy of Progress” nimacimab development update video series. This coincided with the presentation of data related to nimacimab at the American Diabetes Association’s/ADA 85th Scientific Sessions, which was held from June 20 to 23 this year in Chicago, Illinois.

The four-part “Anatomy of Progress” video series highlights unmet needs in obesity treatment, the benefits of nimacimab as a peripheral CB1-receptor-targeting antibody for healthy weight loss, and its development progress. Nimacimab’s unique mechanism targets receptors in the periphery while being greater than 99% excluded from the brain. This peripheral restriction aims to deliver weight loss and metabolic benefits similar to first-gen CB1 inhibitors, but without the neuropsychiatric side effects that plagued earlier small-molecule counterparts.

Skye Bioscience Highlights Nimacimab's Promise in Obesity Treatment, Anticipates Phase 2a Data

A scientist in the lab, researching the development of biopharmaceutical monoclonal antibody drugs.

Skye Bioscience is currently conducting a Phase 2a clinical trial in obesity for nimacimab, which is a negative allosteric modulating antibody that peripherally inhibits CB1. This study is also assessing nimacimab in combination with a GLP-1R agonist (Wegovy). Interim data from the Phase 2a clinical trial are expected in late Q3 or early Q4 2025, after the initial patient cohort completes a 26-week treatment period.

Skye Bioscience Inc. (NASDAQ:SKYE) is a clinical-stage biopharmaceutical company that focuses on developing molecules that modulate G protein-coupled receptors/GPCRs to treat obesity and metabolic diseases.

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Disclosure: None. This article is originally published at Insider Monkey.