Skye Bioscience (NASDAQ:SKYE) Faces Class Action Allegations of Misleading Statements
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
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Source: PRnewswire
- Class Action Notice: The Gross Law Firm has issued a notice encouraging shareholders who purchased Skye Bioscience (NASDAQ:SKYE) shares between November 4, 2024, and October 3, 2025, to contact them for potential lead plaintiff appointment, indicating significant legal risks for the company.
- Allegations of Misleading Statements: The lawsuit alleges that Skye Bioscience made materially false or misleading statements during the class period, particularly overstating the effectiveness of its lead product candidate, nimacimab, which may have led to investor losses.
- Registration Deadline: Shareholders must register by January 16, 2026, to participate in the class action; failure to register will result in ineligibility for potential recovery, underscoring the importance of timely action.
- Law Firm Background: The Gross Law Firm is a nationally recognized class action law firm committed to protecting investors' rights who have suffered losses due to corporate misconduct, highlighting the firm's focus on corporate responsibility.
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Analyst Views on SKYE
Wall Street analysts forecast SKYE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SKYE is 14.33 USD with a low forecast of 10.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 1.010
Low
10.00
Averages
14.33
High
20.00
Current: 1.010
Low
10.00
Averages
14.33
High
20.00
About SKYE
Skye Bioscience, Inc. is a clinical-stage biotechnology company. The Company is focused on development of next-generation molecules that modulate G-protein coupled receptors to treat obesity, overweight, and related conditions. The Company’s lead candidate, nimacimab, is a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1 (CB1). The Company is also focused on its Phase IIa clinical trial, CBeyond, for nimacimab. The CBeyond clinical trial includes approximately 136 patients, 16 clinical trial sites and a combination arm with a GLP-1 receptor agonist to assess differences in weight loss, body composition, and other attributes. The CB1 receptor is one of the receptors in the endocannabinoid system (ECS) and plays a significant role both in the central nervous system (CNS) and peripheral tissues. The Company's Phase II study in obesity for nimacimab, is a negative allosteric modulating antibody that peripherally inhibits CB1.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Skye Bioscience to Present Nimacimab Efficacy Study at Keystone Conference
- Clinical Research Presentation: Skye Bioscience will present its study on the obesity-targeting antibody nimacimab at the Keystone conference on January 28, 2026, exploring its effects on weight loss at various doses, aiming to provide new insights for obesity treatment.
- Mechanism Exploration: The research will assess whether nimacimab can serve as a maintenance therapy after discontinuation of tirzepatide and whether its weight loss effects primarily rely on caloric restriction, thus providing crucial data support for clinical applications.
- Innovative Drug Characteristics: Nimacimab, as a peripherally-restricted monoclonal antibody, is designed to avoid central nervous system penetration, potentially reducing the neuropsychiatric side effects commonly associated with small-molecule antagonists, showcasing its unique advantages in obesity treatment.
- Clinical Trial Progress: Skye is currently conducting a Phase 2a clinical trial for nimacimab in combination with the GLP-1R agonist Wegovy®, which will provide empirical support for its market potential in the obesity sector.
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Skye Bioscience Faces Class Action for Securities Fraud, Investors Encouraged to Join
- Lawsuit Reminder: The Schall Law Firm alerts investors of a class action lawsuit against Skye Bioscience for violations of securities laws, concerning securities purchases from November 4, 2024, to October 3, 2025, with a deadline to contact by January 16, 2026, to participate in claims.
- False Statements: The complaint alleges that Skye's drug candidate nimacimab was less effective than claimed, with the company overstating its commercial and clinical prospects, resulting in investor losses when the truth emerged.
- Legal Process: The class action has not yet been certified, meaning investors are not represented by an attorney until certification occurs, and those who choose not to act will remain absent class members, potentially forfeiting their claims.
- Investor Rights: The Schall Law Firm specializes in securities class actions and encourages affected investors to reach out for free consultations to discuss their rights, aiming to assist in recovering losses and protecting their legal interests.
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