SKYE Bioscience: Advancing Nimacimab Dose Expansion and Clear Phase 2b Path as Adjunct to Semaglutide Supports Buy Rating

Analyst Ananda Ghosh of H.C. Wainwright maintained a Buy rating on Skye Bioscience, retaining the price target of $20.00.

Ananda Ghosh has given his Buy rating due to a combination of factors related to nimacimab’s evolving clinical profile and regulatory positioning. He views the initiation of the Part C expansion, testing higher IV doses, as a key step to clarify whether earlier modest monotherapy results were due to insufficient peripheral exposure rather than a weakness in the CB1 mechanism, while maintaining a CNS-sparing safety profile and potentially accelerating timelines.

He also emphasizes that the recent regulatory feedback has crystallized a clear Phase 2b path as an add‑on to semaglutide in GLP‑1–experienced patients, with a defined >5% incremental efficacy bar that matches Skye’s adjunct strategy. The 52‑week CBeyond data, showing meaningful additional weight loss, improved durability, and reduced weight regain on top of semaglutide at a suboptimal nimacimab dose with no serious safety issues, supports further dose escalation and differentiation in combination regimens, which he believes underpins attractive upside for SKYE shares.

In another report released today, William Blair also reiterated a Buy rating on the stock with a $0.80 price target.