Nimacimab, a weight loss candidate, gains safety recognition, Skye (SKYE.US) jumps 11%

On Monday, Skye Bioscience (SKYE.US) shares soared 11% as the company highlighted differences in the safety of its obesity candidate nimacimab and Novo Nordisk (NVO.US)’ monlunabant. Skye emphasized that its monoclonal antibody nimacimab did not show neuro-psychiatric adverse events in its Phase 1 study, and preclinical studies showed little accumulation in the brain. Meanwhile, Novo Nordisk's monlunabant showed significant weight loss in a Phase 2 clinical trial, but also mild to moderate neuro-psychiatric and gastrointestinal side effects, according to data released by the company on Friday. Shares of Novo Nordisk fell after the news.

It is understood that Skye is currently conducting a Phase 2 study of nimacimab for obesity and evaluating the efficacy of the GLP-1/CB1 inhibitor combination. The interim weight loss data is expected to be released in the second quarter of 2025, and the top-line data is planned to be released in the fourth quarter of 2025. Notably, the GLP-1R agonist drug being evaluated in combination with nimacimab is Novo Nordisk's Wegovy (semaglutide).

Novo Nordisk's shares fell 3% on Monday, while Viking Therapeutics (VKTX.US), which is also developing weight loss drugs, fell 6%. Meanwhile, Structure Therapeutics (GPCR.US) rose more than 1% despite the bearish market, thanks to Morgan Stanley's first buy rating on the company.