Advancement of CBeyond Phase II Obesity Clinical Trial
The CBeyond trial began enrolling patients in August across the U.S. and is on track to announce interim data by Q2 next year, with full enrollment expected by the end of 2025. The trial aims to demonstrate an 8% difference in mean weight loss using nimacimab versus placebo at 26 weeks.
Strong Financial Position
Skye had $76.5 million in cash and cash equivalents as of September 30, 2024, with expectations to fund operations through Q3 2027. The company is currently burning approximately $6 million per quarter, expected to increase to $9 million in 2025.
Preclinical Data on Nimacimab
Preclinical data shows the prominent role of peripheral CB1 inhibition in achieving significant dose-dependent weight loss without neuropsychiatric adverse events. Nimacimab shows a low incidence of GI adverse events.
Reduction in Net Loss
Net loss for Q3 2024 was $3.9 million, significantly down from $24.9 million in Q3 2023, primarily due to a prior acquisition expense of $21.2 million in 2023.