Overview

A class action lawsuit has been filed against Skye Bioscience, Inc. (“Skye” or the “Company”) and certain of the Company’s current senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the Nasdaq Global Market (“NASDAQ”) under the ticker symbol “SKYE.”

The Skye class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Skye securities between November 4, 2024, and October 3, 2025, both dates inclusive, (the “Class Period”).

The lawsuit alleges that Skye Bioscience, a clinical-stage biopharmaceutical company developing therapies targeting G protein-coupled receptors to treat obesity and metabolic diseases, misled investors about the efficacy and prospects of its lead product candidate, nimacimab. Nimacimab is a peripherally restricted negative allosteric modulating antibody targeting the CB1 receptor, a key regulator of metabolic function.

In August 2024, Skye initiated its Phase 2a “CBeyond” clinical trial, a 26-week, randomized, double-blind, placebo-controlled proof-of-concept study evaluating nimacimab as a treatment for obesity and overweight. The trial’s primary endpoint was to show an 8 percent difference in mean weight loss between nimacimab and placebo at week 26, with an additional 13-week follow-up period. Throughout the class period, while the trial was ongoing, defendants repeatedly touted nimacimab’s “differentiated” mechanism of action and pointed to efficacy results from other studies to suggest that the CBeyond results were likely to be favorable. Defendants consistently promoted nimacimab’s clinical, regulatory, and commercial prospects.

According to the lawsuit, these statements were materially false and misleading. Defendants allegedly failed to disclose that nimacimab was less effective than they had represented and that its prospects were significantly overstated. As a result, defendants’ public statements regarding Skye’s business, operations, and outlook were misleading throughout the class period.

The truth emerged on October 6, 2025, when Skye announced topline results from the CBeyond trial. The company disclosed that nimacimab monotherapy did not achieve the primary endpoint of weight loss compared to placebo and that preliminary pharmacokinetic data showed lower-than-expected drug exposure, suggesting a need for higher dosing. Following this announcement, Skye’s stock price fell by $2.85 per share, or 60 percent, closing at $1.90 on October 6, 2025.

Furthermore, the lawsuit alleges that, as a result of defendants’ wrongful acts and omissions, investors suffered significant losses when the true effectiveness of nimacimab was revealed.

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If you purchased or otherwise acquired Skye securities between November 4, 2024, and October 3, 2025, both dates inclusive, (the “Class Period”), you may be eligible to serve as lead plaintiff in this lawsuit. If you invested in Skye securities and wish to seek appointment as lead plaintiff, we encourage you to contact DiCello Levitt LLP by submitting your information through the form on this page.

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Skye class action lawsuit is January 16, 2026.