The filed complaint alleges that Skye Bioscience, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i)The Company’s lead product candidate, nimacimab, was less effective than defendants had led investors to believe; (ii) accordingly, nimacimab’s clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.