Skye Bioscience Inc.(US:SKYE) TMX Newsfile·2025-12-25 14:03Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Skye Bioscience, Inc. due to allegations of violations of federal securities laws related to misleading statements about the effectiveness of its drug nimacimab [2][4]. Group 1: Legal Investigation and Class Action - The firm is encouraging investors who suffered losses in Skye between November 4, 2024, and October 3, 2025, to discuss their legal rights [1]. - A federal securities class action has been filed against Skye, with a deadline of January 16, 2026, for investors to seek the role of lead plaintiff [2][6]. - The lead plaintiff is defined as the investor with the largest financial interest who can adequately represent the class [6]. Group 2: Allegations Against Skye - The complaint alleges that Skye and its executives made false and misleading statements regarding the effectiveness of nimacimab, overstating its clinical and commercial prospects [4]. - On October 6, 2025, Skye announced that its nimacimab did not achieve the primary endpoint of weight loss compared to placebo, leading to a significant stock price drop of 60%, closing at $1.90 per share [5]. Group 3: Company Background - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. - The firm is actively seeking information regarding Skye's conduct from whistleblowers, former employees, and shareholders [7].