Cash of $17 Million thru Top-line Expansion Data in 4Q:26; Price Target to $6

研报英文原文证据摘录

Cash of $17 Million thru Top-line Expansion Data in 4Q:26; Price Target to $6

rt Review Committee (CRC) will 52-Week High / Low US$5.75 / US$0.57

meet next week to review 400mg weekly IV nimacimab (6:2) data to determine whether Shares Out (mil) 39.7

safe to proceed to 600mg weekly IV nimacimab. Skye expects to report top-line CBeyond Form 10Q as of May 8th plus PFW

expansion data in 4Q:26. We are confident higher nimacimab doses should achieve Market Cap. (mil) US$34.9

clinically meaningful weight loss based on the well-validated biology. Skye engaged Lilly Total Assets ($mil) 19

Avg Daily Vol (000) 521 Catalyze360 to help design the Phase IIb study, which should be finalized in 4Q:26.

Book Value/Share US$0.23

Skye continues to develop a high-concentration subcu formulation of nimacimab with Enterprise Value (mil) $2,832.0

Halozyme's ENHANZE technology to be used in future trials. Price/Book 383%

Net Cash Per Share US$0.43

• Nimacimab Improved Weight Loss Profile in Combination with Wegovy. Debt to Total Capital 0.0%

Specifically, 200mg weekly subcu nimacimab combo (n=28) increased weight loss to Div Yield 0.00%

13.1% vs. 10.06% on Wegovy alone (n=24). In per protocol patients who received all Fiscal Year End Dec

doses, the combo (N=21) achieved 13.65% weight loss vs. 10.38% on Wegovy (n=20). Price Performance - 1 Year

The combination provided better quality weight loss with only 24% of weight lost from

muscle compared to 28% on Wegovy. In the patients who completed the extension USD 5

study and received 26 additional weeks of therapy, the nimacimab combination (n=10)

achieved 22.3% weight loss, compared to 19.7% with Wegovy alone (n=9), likely due 4

to selection bias. Importantly, weight loss does not appear to plateau in combination

patients at 52 weeks.