Pomerantz LLP Announces Commencement of Class Action Litigation Against Skye Bioscience, Inc. – SKYE

NEW YORK CITY, NY / ACCESS Newswire / November 22, 2025 / Pomerantz LLP announces that a class action lawsuit has been filed against Skye Bioscience, Inc. ("Skye" or the "Company") and certain officers. The class action, filed in the United States District Court for the Southern District of California, and docketed under 25-cv-03177, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Skye securities between November 4, 2024 and October 3, 2025, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.If you are an investor who purchased or otherwise acquired Skye securities during the Class Period, you have until January 16, 2026, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action]Skye is a clinical stage biopharmaceutical company that focuses on developing molecules that modulate G protein-coupled receptors ("GPCRs") to treat obesity, overweight, and metabolic diseases. The Company's lead product candidate is nimacimab, a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor type-1, a key GPCR involved in metabolic regulation.In August 2024, Skye initiated its "CBeyond" clinical trial, a twenty-six-week, randomized, double-blind, placebo-controlled Phase 2a proof-of-concept study designed to assess nimacimab as a treatment for obesity and overweight. The CBeyond trial's primary endpoint was to demonstrate an 8% difference in mean weight loss using nimacimab versus placebo at twenty-six weeks, with a thirteen-week follow-up.At all relevant times while the Phase 2a Beyond trial was ongoing, Defendants touted nimacimab's purported "differentiated" mechanism of action and efficacy results as purportedly demonstrated in other various studies. Critically, Defendants cited to nimacimab's purportedly potent efficacy as observed in these various studies to suggest that the results of the Phase 2a CBeyond trial were likely to be favorable, while consistently touting nimacimab's overall clinical, regulatory, and commercial prospects.The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Skye's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) nimacimab was less effective than Defendants had led investors to believe; (ii) accordingly, nimacimab's clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times.On October 6, 2025, Skye issued a press release "announcing the topline data from its 26-week Phase 2a CBeyond™ proof-of-concept study of nimacimab." The press release disclosed that the "the nimacimab monotherapy arm did not achieve the primary endpoint of weight loss compared to placebo" and that "preliminary pharmacokinetic analysis showed lower than expected drug exposure, potentially indicating the need for higher dosing as a monotherapy."On this news, Skye's stock price fell $2.85 per share, or 60%, to close at $1.90 per share on October 6, 2025.Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.Attorney advertising. Prior results do not guarantee similar outcomes.SOURCE: Pomerantz LLPView the original press release on ACCESS Newswire