A securities class action has been filed in the USDC – S.D.CA. against Skye Bioscience, Inc. (SKYE) (“Skye” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Skye securities between November 4, 2024, and October 3, 2025, both dates inclusive (the “Class Period”).
Skye is a clinical stage biopharmaceutical company that focuses on developing molecules that modulate G protein-coupled receptors (“GPCRs”) to treat obesity, overweight, and metabolic diseases. The Company’s lead product candidate is Nimacimab, a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor type-1 (“CB1”), a key GPCR involved in metabolic regulation.
The complaint alleges throughout the Class Period, Defendants made materially false and misleading statements regarding Skye’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
(1) Nimacimab was less effective than Defendants had led investors to believe;
(2) accordingly, Nimacimab’s clinical, regulatory, and commercial prospects were overstated; and
(3) as a result, Defendants’ public statements were materially false and misleading at all relevant times, thereby harming investors.
Skye’s stock price fell $2.85 per share, or 60%, to close at $1.90 per share on October 6, 2025.
If you purchased Skye securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.