Skye Bioscience (NASDAQ: SKYE) has completed enrollment in its Phase 2a CBeyond™ trial of CB1 inhibitor nimacimab for obesity treatment, with 136 patients exceeding the initial target of 120. The company expects full top-line data in late Q3/early Q4 2025, ahead of schedule, and has extended the trial dosing to 52 weeks for enhanced long-term data.
Key financial highlights include a strong cash position of $68.4 million as of December 31, 2024, with runway projected through Q1 2027. The company reported a net loss of $26.6 million for 2024, significantly improved from $37.6 million in 2023. R&D expenses increased to $18.7 million in 2024 from $5.8 million in 2023, while G&A expenses rose to $17.7 million from $7.9 million.
The company raised approximately $83.6 million through two PIPE transactions in early 2024 and received a $2 million insurance settlement. Preclinical data from November 2024 showed significant dose-dependent weight loss and improved glucose tolerance, supporting nimacimab's potential in obesity treatment.
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