Skye Bioscience (SKYE) Reiterated at Market Outperform by Citizens on Nimacimab Data

Citizens analyst Jonathan Wolleben reiterated a Market Outperform rating and $4.00 price target on Skye Bioscience (NASDAQ: SKYE).

The analyst commented, "We like the higher dosing cohort, which should help elucidate nimacimab's monotherapy weight loss potential while confirming its differentiated safety profile in the Cb1 inhibitor field. As a reminder, nimacimab plus Wegovy reduced body weight by 22.3% at 52 weeks with no plateau, alongside a favorable body-composition profile. Off-treatment follow-up showed reduced weight regain (18% vs. 37% with Wegovy), with preservation of fat mass loss and gains in lean mass. Safety remains clean, with no added GI or neuropsychiatric adverse events, supporting nimacimab's peripherally restricted, antibody-based design. We think these data validate the biology and de-risk the combination thesis ahead of the planned Phase 2b, and we are interested to see the weight loss data from the higher dose cohorts later this year."

For an analyst ratings summary and ratings history on Skye Bioscience click here. For more ratings news on Skye Bioscience click here.

Shares of Skye Bioscience closed at $0.80 yesterday.

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