Skye Bioscience, under the ticker SKYE, has unveiled promising preclinical results for its innovative CB1 antibody, nimacimab. In a study examining diet-induced obesity in mice, findings revealed significant weight loss outcomes after 25 days of treatment.
The study noted that when nimacimab was used in conjunction with the dual GLP-1/GIP agonist tirzepatide, it resulted in more than a 30% reduction in weight. By itself, nimacimab achieved a 23.5% weight loss, performing comparably to both monlunabant and tirzepatide when used alone.
According to Skye Bioscience's CEO, Punit Dhillon, this preclinical research underscores nimacimab's capability to effectively promote weight loss as a peripherally-restricted CB1 inhibitor. Additionally, when used alongside GLP-1-targeted medications like tirzepatide, nimacimab provides notable additive benefits in terms of weight reduction.
These findings build on previous studies with human CB1 knock-in mice, where nimacimab displayed significant dose-dependent weight loss. The current study also highlighted beneficial changes in key hormones, glycemic control, and inflammatory markers associated with nimacimab-driven weight loss.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Skye Bioscience Inc (SKYE, Financial) is $20.00 with a high estimate of $20.00 and a low estimate of $20.00. The average target implies an upside of 1,426.72% from the current price of $1.31. More detailed estimate data can be found on the Skye Bioscience Inc (SKYE) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Skye Bioscience Inc's (SKYE, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
