The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Skye's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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.