Skye Bioscience expands into obesity with nimacimab

11 December 2023

Shares of USA-based Skye Bioscience (OTCQB: SKYE) rose 14% to $3.99 by mid-morning, after it revealed its intent to enter the huge and fast-growing obesity treatment sector.

Skye said it plans to develop nimacimab, the company’s monoclonal antibody for weight loss and the treatment of obesity. The company has filed an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA) for the initiation of a Phase II clinical study of nimacimab in patients with obesity and chronic kidney disease. The Phase II study is planned to initiate in first half of 2024.

Skye acquired rights to nimacimab along with its takeover of Bird Rock Bio in August this year for around $20 million.

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