India, April 15 -- Skye Bioscience Inc. (SKYE) jumped 58.78 percent to $2.08 during Tuesday's trading after unveiling encouraging preclinical data for its novel CB1 antibody, nimacimab.
The stock opened at $1.48 and surged to a high of $3.73 before retreating on the Nasdaq. Volume reached 23 million shares, well above the average of 200,000. Skye has traded between $1.14 and $17.65 over the past year.
The company highlighted the treatment's potential to address obesity both as a standalone therapy and in combination with GLP-1 drugs. Skye anticipates initial results from its Phase 2a obesity study in late Q3 or early Q4 of 2025.
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