SKYE Skye Bioscience, Inc.
Legal ·
Stout v. Skye Bioscience alleges misleading statements about nimacimab from November 4, 2024 to October 3, 2025. Two derivative suits captioned against Dhillon are stayed, and consolidation was sought on August 11.
A jury found for former employee Wendy Cunning in 2023. The Ninth Circuit vacated the judgment in 2024. Skye now estimates the legal contingency at $5,417,250 and cites settlement talks.
Redx holders would own about 59.74% of the combined company and Skye holders about 5.38%, at an assumed exchange ratio of 0.0892. Skye also plans a reverse stock split, and its proxy warns that stockholders will vote without certainty about the combined company's Nasdaq listing.
Skye Bioscience's equity line with a Redmile affiliate covers up to $22,000,000 and requires purchases of up to $2,000,000 a month once it starts. The line is reduced if the PIPE exceeds $103,000,000 and falls away at $125,000,000.
Nasdaq said on August 18, 2026 that Skye Bioscience's stockholders' equity was a deficit of $497,307 at June 30, 2026, below the $2,500,000 minimum. The company has until October 2, 2026 to submit a plan to regain compliance.
Skye Bioscience's investor deck describes a U.K. scheme of arrangement to combine with Redx Pharma, a concurrent financing totaling $125 million, and a contingent value right for former Skye holders. The deck says Skye is discontinuing its CBeyond trial of nimacimab.
Nasdaq says Skye's stockholders' equity of $9,011,804, reported for the quarter ended March 31, 2026, is below the $10,000,000 Global Market minimum. The company has until June 29, 2026 to submit a plan.
Nasdaq told Skye Bioscience (Nasdaq: SKYE) its stock closed below $1.00 for 30 consecutive business days. The company has 180 calendar days to regain compliance and says it will consider its options.
Skye Bioscience is a clinical-stage biotechnology company pioneering molecules that modulate G-protein-coupled receptors, or GPCRs, to treat obesity, overweight and metabolic disorders. Its lead candidate, nimacimab, is a humanized IgG4 peripherally restricted negative allosteric modulating antibody that targets the CB1 receptor and shows no cross-reactivity with CB2. Skye acquired nimacimab through its acquisition of Bird Rock Bio, Inc. in August 2023. The company's strategy includes advancing nimacimab as a combination therapy and as a standalone or second-line therapy, including in combination with incretin-based therapies. It also plans to explore additional metabolic indications where inflammation and fibrosis contribute to disease progression. The company cites a global obesity burden in which obesity affected more than 890 million adults as of 2022. It estimates a total addressable market of more than $100 billion annually by 2030. The text notes that the earlier CB1 inverse agonist rimonabant was taken off the market because of severe adverse neuropsychiatric side effects.
| Product or program | What it is | Stage |
|---|---|---|
| Nimacimab | Peripherally restricted CB1 negative allosteric modulating antibody for obesity and overweight | in clinical development |
| Line | FY2025 | FY2024 |
|---|---|---|
| Net income (loss) | -$55.9 million | -$26.6 million |
| Cash from operations | -$43.1 million | -$25.2 million |
| Cash and equivalents | $5.9 million | $68.4 million |
| Short-term investments | $19.9 million | $0 |
Our latest story on this, dated Oct 26, 2026: "Skye Bioscience files preliminary proxy for its Redx Pharma acquisition". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Oct 28, 2026: "Skye Bioscience faces nimacimab securities class action and two derivative suits". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Aug 24, 2026: "Skye Bioscience signs equity line with Redmile affiliate for up to $22,000,000". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Aug 19, 2026: "Skye Bioscience gets Nasdaq notice: stockholders' equity was ($497,307)". The story links the filing or release it is based on. Read the story.
Our latest story on this, dated Oct 28, 2026: "Skye Bioscience faces October 2026 retrial of Cunning whistleblower suit". The story links the filing or release it is based on. Read the story.
Skye Bioscience, Inc. trades under the ticker SKYE on NASDAQ.
Skye Bioscience, Inc. is listed on NASDAQ. Our directory also records these other listings: LSX:A42JP2.
The SEC Central Index Key (CIK) for Skye Bioscience, Inc. is 1516551. Its filings are on SEC EDGAR.
35,421,413 shares as of 2026-08-10, per the cover page of its 10-Q filed 2026-08-14.
Our directory records Skye Bioscience, Inc. under United States.
Our directory classifies Skye Bioscience, Inc. as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline.
The ISIN recorded for Skye Bioscience, Inc. is US83086J3095.
aibio.space lists Skye Bioscience, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.
SEC records list its state or country of incorporation as NV.
Skye Bioscience is a clinical-stage biotechnology company pioneering molecules that modulate G-protein-coupled receptors, or GPCRs, to treat obesity, overweight and metabolic disorders. Its lead candidate, nimacimab, is a humanized IgG4 peripherally restricted negative allosteric modulating antibody that targets the CB1 receptor and shows no cross-reactivity with CB2.
Filed documents for a merger or acquisition. SEC Form PREM14A. Source
Reported the end of a material agreement. SEC Form 8-K (Items 1.02,5.02,8.01). Source
Reported a financing. SEC Form 8-K (Items 1.01,3.02,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported a reverse stock split. SEC Form 8-K (Items 1.01,3.02,3.03,5.01,5.02,5.03,7.01,9.01). Source
Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-Q. Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 8.01). Source
Reported a shareholder vote on a reverse stock split or more authorized shares. SEC Form 8-K (Items 5.03,5.07,9.01). Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Filed documents for a merger or acquisition. SEC Form PREM14A. Source
Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). Source
Reported substantial doubt about its ability to continue as a going concern. SEC Form 10-K. Source
Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-K. Source
Reported a change of independent auditor. SEC Form 8-K (Items 4.01,5.07,9.01). Source
Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-K. Source
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