On Thursday, Skye Bioscience Inc. (NASDAQ:SKYE) reported positive results from two preclinical obesity studies testing nimacimab, a peripherally-acting CB1-inhibiting monoclonal antibody.
In the first study, nimacimab matched or exceeded the weight loss of Novo Nordisk's (NYSE:NVO) monlunabant while showing superior post-treatment maintenance.
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The second study evaluated nimacimab alongside Eli Lilly's (NYSE:LLY) tirzepatide at both optimal and sub-optimal doses, demonstrating enhanced weight loss and reducing the significant rebound typically seen when tirzepatide is stopped.
Across multiple preclinical trials, nimacimab with tirzepatide produced more than 40% weight loss and cut post-treatment weight regain by over 50%.
William Blair analysts highlighted CB1 receptor targeting as a promising strategy, either alone or in combination with GLP-1 drugs.
While first-generation CB1 inhibitors were shelved due to psychiatric side effects, nimacimab's antibody approach focuses on peripheral receptors, with Phase 1 data supporting improved safety.
Despite fierce competition in the obesity market from GLP-1 blockbusters like Ozempic and Zepbound, analysts say even modest market penetration could drive meaningful upside, prompting William Blair to reiterate an Outperform rating on Skye shares.
Price Action: SKYE stock is up 5.18% at $3.94 at the last check on Friday.
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