Evercore starts Skye Bioscience at Outperform on nimacimab potential

As previously reported, Evercore ISI initiated coverage of Skye Bioscience (SKYE) with an Outperform rating and $10 price target Nimacimab is the “only weekly SC large molecule CB1 inhibitor in development,” says the analyst, who sees the drug having the potential to “fill critical gaps in obesity care.” The 26-week Phase 2a readout due in late Q3 or early Q4 will be “the next major test,” the analyst added.