Is The SKYE The Limit on This CB1 Weight Loss Molecule? SKYE BIOSCIENCES (SKYE-NASD)

I’m posting here my original purchase of SKYE BIOSCIENCES in February 2025–but I have updated some of the financial numbers and timelines.  I’ve always liked this story as their target weight loss molecule, Nimacimab, has much improved tolerance in humans and also high efficacy in animal testing.  The stock has taken off after management presented at an EVERCORE panel at conference on June 22 at the American Diabetes Association conference.

Back in February, I bought 5000 shares of SKYE BIOSCIENCES (SKYE-NASD) at $2.75. They should get interim data results on Phase 2 trial for their weight loss molecule, called Nimacimab. This is a CB1 inhibitor, not a GLP-1 product.

The key here is A) low toxicity for their molecule B) overall, CB1 has much lower muscle loss than GLP-1. Think….tastes-great / less-filling advertising—this Nimacimab could be something special. Investors find out late Q3, early Q4.

Phase 1 trial (humans) shows very low toxicity. Pre clinical animal testing (mice) shows high efficacy (16% weight loss—see graph below). So there are some concrete reasons to be very optimistic.

KEY POINTS

1. $59.2M CASH as of Mar 30 25 VS $143 M Market Cap and Enterprise Value (EV) of $83.8 M—current cash gives RUNWAY TO Q1 2027.
2. CB1 Inhibitors shows effective weight loss in humans (as a class of molecule; Skye doesn’t have human efficacy trials done yet)

3. SKYE’S CB1 molecule, Nimacimab, shows 16% weight loss in animal testing (mice– SEE GRAPH BELOW). If positive, this news would make the stock a multi-bagger.

4. Nimacimab also shows much greater tolerability in HUMANS.  Also, Nimacimab is virtually undetectable in th brani, and does not cause neuro-psychiatric side effects.

a) ZERO NEURO-PSYCHIATRIC ADVERSE EVENTS THUS FAR!
b) LESS THAN 5% OF PATIENTS REPORT GI ISSUES

GI issues are huge for all other weight loss products; this could be Nimacimab’s #1 benefit—small molecule competitors = 30% GI issues and Wegovy & ZEPBOUND = 70%+

6. Nimacimab reduces energy storage in the form of fat and increases energy expenditure even while you are still

7. Nimacimab low toxicity / high tolerability could end up being a standalone product or a complement to current GLP-1 treatment

8. 40% OF GLP-1 WEIGHT LOSS IS MUSCLE. CB1 research so far shows NO muscle loss—that’s DRAMATIC. In the recent preclinical work in mice, the combination of nimacimab and terzepatide (Eli Lilly’s Zepbound), increased  weight loss of 23.5% to 31.5%–showing that nimacimab has potential to add value in combination with the approved GLP1 drugs.

If Nimacimab Phase 2 data shows weight loss on par with other CB1 molecules, when we already know it has much loss toxicity than others
…THIS COULD BE A BIG WINNER!!!

AND WE WILL FIND OUT LATE Q3/EARLY Q4!!

Here is what weight loss efficacy looked like in MICE trials. And see that the bigger the dose the more weight loss there was. THIS IS GOOD!

9. NEAR TERM CATALYST FOR THIS TO BE A 10-BAGGER—Phase 2 human testing
data by late Q3 / early Q4—IF IF IF this is positive—and all data to date suggests this is VERY STRONG possibility—shareholders get a BIG BIG win

10. Tier 1 names in last years’ financing—like Baker Bros and 5AM Ventures—the May 15 data at www.whalewisdom.com show they still own their position.

BY THE WAY…THE TOXICITY ISSUE IS VERY IMPORTANT…a Blue Health Intelligence survey reported 30% of patients dropped out of treatment after the first 4-weeks OF GLP-1 treatments, and most did not stay on treatment for the minimum 12-weeks—so they were unlikely to achieve clinically meaningful weight loss.

NIMACIMAB CAN SOLVE THIS ISSUE!!!! IT’S ALL ABOUT TOXICITY!! Don’t take my word for it, check out this
tweet: https://x.com/bradloncar/status/1882855301768225066

A molecule like Nimacimab could end up being the most tolerable weight loss molecule that can provide a long term weight management program

Just FYI, the FDA only needs 5% weight loss to be considered effective.

BUT—–This is NOT a Risk-Free Trade!!!! For you investors who don’t understand the import of Phase 2 data i in late Q3/early Q4—while that will make this stock move from current levels if it’s positive (and hopefully we get a big spec premium between now and then to get our cost out and ride for free), a NEGATIVE, statistically insignificant result will take this stock to 50% below cash value.

BUT…HIMS has nothing proprietary and at $30 it’s a $6.5 BBBBBBBILLION MARKET CAP

That kind of valuation would make SKYE a life changing win.

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