Skye Biosciences Faces Class Action for Misleading Statements
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 26 2025
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Source: Globenewswire
- Legal Investigation Initiated: Faruq & Faruq LLP is investigating potential securities fraud claims against Skye Biosciences, concerning investor losses from November 4, 2024, to October 3, 2025, which could significantly impact the company's reputation and stock price.
- Clinical Data Failure: Skye's press release on October 6, 2025, revealed that nimacimab's clinical trial did not meet its primary endpoint, resulting in a 60% stock price drop, raising serious concerns among investors about the company's future prospects.
- Investor Rights at Risk: Due to the executives' failure to disclose the true efficacy of nimacimab, investors may face substantial losses, prompting Faruq & Faruq LLP to urge affected investors to reach out for legal support.
- Class Action Deadline: Investors must apply to be lead plaintiffs in the class action by January 16, 2026, highlighting the urgency and significance of the legal action to protect their rights in the lawsuit.
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 9.80 USD with a low forecast of 2.00 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.
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 0.750
Low
2.00
Averages
9.80
High
20.00
Current: 0.750
Low
2.00
Averages
9.80
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.
