Skye Bioscience rises after experimental weight-loss drug shows promise in mice

Shares of drug developer Skye Bioscience SKYE.O rise 11.5% to $1.46 premarket

Co says its drug candidate, nimacimab, showed 23.5% weight loss in mice, comparable to Eli Lilly's LLY.N popular drug, tirzepatide, sold as Zepbound, and Novo Nordisk's NOVOb.CO experimental drug, monlunabant

SKYE also says nimacimab, when combined with tirzepatide, showed a greater than 30% weight loss

Initial data from SKYE's mid-stage study in obesity is expected in late Q3/early Q4 2025

Up to last close, stock had fallen 53.7% YTD