(Reuters) -Skye Bioscience said on Monday its experimental drug did not help overweight adults achieve significant weight loss compared to placebo, failing to meet the main goal of a mid-stage study and sending its shares slumping 66% before the bell.
The company said patients receiving the experimental drug, nimacimab, lost 1.52% of their body weight compared to 0.26% for those on placebo.
However, patients who took nimacimab together with semaglutide lost 13.2% of their body weight on average, compared with 10.25% for those on semaglutide alone, it said.
The drug was well tolerated, Skye said, adding that nimacimab combined with semaglutide did not increase stomach-related side-effects, and no neuropsychiatric issues linked to nimacimab were reported.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shilpi Majumdar)
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