Prnewswireยท2025-11-18 05:47Core Viewpoint - A class action lawsuit has been filed against Skye Bioscience, Inc. for allegedly misleading investors about the effectiveness and prospects of its lead drug candidate, nimacimab [1][2]. Company Overview - Skye Bioscience, Inc. is a clinical stage biopharmaceutical company focused on developing molecules that modulate G protein-coupled receptors (GPCRs) to treat obesity, overweight, and metabolic diseases [1]. Allegations - The lawsuit claims that during the class period, Skye failed to disclose that nimacimab was less effective than previously stated, leading to overstated clinical, regulatory, and commercial prospects [2]. - On October 6, 2025, Skye announced that nimacimab did not achieve its primary endpoint of weight loss compared to placebo in a Phase 2a study, resulting in a significant stock price drop of $2.85 per share, or 60%, closing at $1.90 per share [3]. Legal Proceedings - Shareholders may be eligible to participate in the class action and can contact Robbins LLP if they wish to serve as lead plaintiff [4]. - The representation in the lawsuit is on a contingency fee basis, meaning shareholders will not incur fees or expenses [5].