Skye Bioscience Shares Plunge as Investor Lawsuit Filed

Skye Bioscience’s stock is experiencing another significant downturn this week as the biotechnology firm faces a new class-action lawsuit. The legal action, filed on Tuesday, alleges that investors were misled regarding the efficacy of the company’s flagship drug candidate, Nimacimab. This development compounds existing pressure on the stock, which had already suffered a 60% collapse in October following disappointing clinical trial results.

The lawsuit centers on disappointing outcomes from the CBeyond Phase 2a clinical trial, whose results were disclosed on October 6. Nimacimab failed to achieve its primary endpoint for weight Read more...