Skye shares new preclinical DIO data at virtual KOL eventNimacimab + tirzepatide demonstrates over 40% weight loss in multiple preclinical DIO studies Nimacimab demonstrates durable post-treatment weight loss compared to tirzepatideNimacimab reduced rebound weight gain following treatment with tirzepatide or nimacimab + tirzepatideNimacimab outperformed monlunabant head-to-head, and is uniquely positioned as a well-tolerated therapeutic to potentially induce healthier and sustained weight loss, both as a mo ...

Core Insights - Skye Bioscience, Inc. has completed the treatment phase for the last patient in its Phase 2a CBeyond™ clinical trial evaluating nimacimab for obesity, with topline data expected in late Q3/early Q4 of 2025 [1][3] Group 1: Clinical Trial Details - The CBeyond™ Phase 2a trial is a randomized, double-blind, placebo-controlled study focusing on weight loss, safety, tolerability, and metabolic biomarkers in adults with obesity and overweight [2] - The primary endpoint of the trial is to compare weight change from baseline to 26 weeks between nimacimab and placebo [2] - An exploratory arm of the trial is assessing the combination of semaglutide (Wegovy®) with nimacimab versus semaglutide with placebo [2] Group 2: Study Progress and Future Plans - Skye has completed enrollment for a 26-week extension of the Phase 2a trial, which aims to provide data on 52 weeks of treatment with nimacimab, either as monotherapy or in combination with semaglutide [5] - Patients who completed the initial 26 weeks were eligible for the extension, potentially leading to a total treatment duration of 52 weeks followed by a 12-week follow-up [5] - Data from the extension study is expected to be reported in Q1 2026 [5] Group 3: Company Strategy and Market Context - Skye is focused on developing new therapeutic pathways for metabolic health, particularly through the modulation of G-protein coupled receptors [6] - The company believes that peripheral CB1 inhibition via an antibody presents a promising alternative to existing GLP-1 weight loss drugs, which may not meet all patients' needs [4] - Skye aims to advance nimacimab as a potential new therapeutic option for obesity and overweight, addressing limitations of current treatments [4]

Core Insights - Skye Bioscience, Inc. is focused on developing nimacimab, an anti-obesity drug that targets peripheral CB1 receptors, aiming to address unmet needs in obesity treatment [1][2][3] - The company has launched a video series titled "Anatomy of Progress" to provide updates on nimacimab's development and its advantages over traditional treatments [1][2] Group 1: Product Development - Nimacimab is a peripherally-restricted CB1 antibody that aims to provide weight loss benefits without the neuropsychiatric side effects associated with small molecule CB1 inhibitors [4][3] - The video series discusses the mechanistic advantages of nimacimab, emphasizing its potential to revolutionize obesity treatment by addressing biological resistance to traditional therapies [3][4] Group 2: Clinical Insights - Skye's management participated in a panel discussing the clinical and preclinical experiences with nimacimab, highlighting its peripheral blockade of the CB1 pathway [5] - Presentations at the American Diabetes Association's 85th Scientific Sessions included data on nimacimab's effectiveness in promoting weight loss and reducing obesity-induced inflammation [6][8] Group 3: Market Positioning - The company is positioning nimacimab as a differentiated therapeutic option in the obesity market, particularly as a non-GLP1 alternative, based on feedback from obesity physicians [7] - The market opportunity for nimacimab is framed by its unique target product profile, which is expected to complement existing incretin-based therapies [7][9] Group 4: Research Findings - Preclinical studies demonstrated that nimacimab promotes metabolic homeostasis and improves hormonal regulation in diet-induced obesity models [8] - New biomarker data presented indicates significant reductions in obesity-related inflammation and liver steatosis, supporting nimacimab's potential as a standalone and combination therapy [6][8]

Financial Data and Key Metrics Changes - Cash and cash equivalents and short-term investments totaled $59.2 million as of March 31, 2025 [17] - Research and development expenses increased to $7.2 million for the three months ended March 31, 2025, compared to $1.9 million for the same period in 2024 [18] - General and administrative expenses rose to $4.6 million for the three months ended March 31, 2025, compared to $4.2 million for the same period in 2024 [18] - The net loss for the three months ended March 31, 2025, was $11.1 million, with non-cash share-based compensation expense of $2.2 million [19] Business Line Data and Key Metrics Changes - The company completed enrollment in its Phase IIa CBEYOND trial ahead of schedule and amended the study to extend to 52 weeks [4][5] - New preclinical data validated the potential of nirmasumab as a weight loss therapy, showing significant weight loss comparable to less restricted small molecules [5][6] Market Data and Key Metrics Changes - The evolving policy environment presents regulatory uncertainties, particularly regarding drug pricing policy and FDA transitions [8][9] - The company believes its exposure to these uncertainties is limited in the near term as it prioritizes clinical development milestones [9] Company Strategy and Development Direction - The company aims to address the chronic nature of obesity with sustainable long-term solutions through its differentiated antibody approach [10] - The management is focused on disciplined execution while tracking developments in the regulatory landscape [9] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the clinical progress and the potential of nirmasumab to deliver durable weight loss with fewer safety concerns [6][10] - The company is preparing for key scientific and investor events to present additional data [6] Other Important Information - The company is closely monitoring potential tariff impacts on its manufacturing activities, with no expected immediate effects [19][21] - The independent Data Safety Monitoring Committee has completed three reviews with no safety concerns reported [7][58] Q&A Session Summary Question: What can be expected at ADA and ECO? - Management deferred details about ADA and ECO presentations to the CSO, who mentioned a cohesive model comparing different CB1 inhibitors will be presented at ECO [24][30] Question: How does management view the differentiation between nirmasumab and monlunabant? - Management believes investors are beginning to grasp the differences, emphasizing the additive effects of nirmasumab in combination with tirzepatide [25][27] Question: What is the plan for regulatory interactions? - The company plans to have discussions with the FDA regarding the Phase IIa data and potential Phase IIb study after data readouts [35][39] Question: How does nirmasumab preserve lean muscle mass? - The combination of nirmasumab with tirzepatide shows significant fat mass reduction while preserving lean mass, with the greatest effect observed in combination [42][46] Question: What are the expectations for the primary endpoint at 26 weeks? - The primary endpoint is targeting an 8% weight loss at 26 weeks, with expectations for separation from placebo [61] Question: What is the incremental benefit of extending the CBION study to 52 weeks? - The extension allows for broader efficacy and safety data collection, which will inform the Phase IIb study [68][70] Question: How is the trial powered based on preclinical studies? - The preclinical data has increased confidence in the expected outcomes, with robust inhibition of CB1 and significant weight loss observed [78][80]