--- title: "Skye Bioscience gets Nasdaq bid price deficiency notice" url: "https://aibio.space/news/skye-bioscience-gets-nasdaq-bid-price-deficiency-notice-has-until/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-19" section: "Listings" tickers: "NASDAQ:SKYE" source: "https://www.sec.gov/Archives/edgar/data/1516551/000162828026019878/skye-20260317.htm" summary: "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 compl" --- By the aibio.space news desk. Sources - [Skye Bioscience, Inc. Form 8-K filed March 19, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1516551/000162828026019878/skye-20260317.htm) - [Skye Bioscience, Inc. Form 10-K filed March 10, 2026: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1516551/000162828026016394/skye-20251231.htm) [SKYE](https://aibio.space/companies/skye-bioscience/) 2026-03-19 # Skye Bioscience gets Nasdaq bid price deficiency notice, has until September 14, 2026 Tickers [SKYE](https://aibio.space/companies/skye-bioscience/) 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. ## Key facts - **Company**: Skye Bioscience, Inc. (NASDAQ: SKYE) - **News type**: Listings - **Primary source**: [Skye Bioscience, Inc. Form 8-K filed March 19, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1516551/000162828026019878/skye-20260317.htm) *The Capitol dome seen from below. Photo: U.S. Department of Homeland Security (Source), CC0, via rawpixel. The picture shows the field, not the companies named.* Skye Bioscience, Inc. (Nasdaq: [SKYE](https://aibio.space/companies/skye-bioscience/)) said it received a Nasdaq minimum bid price deficiency notice on March 17, 2026. The company disclosed the letter in a [Form 8-K filed March 19, 2026](https://www.sec.gov/Archives/edgar/data/1516551/000162828026019878/skye-20260317.htm). ## What the filing says The letter came from the Nasdaq Listing Qualifications Department (the Staff) of the Nasdaq Stock Market LLC. It told Skye that for the last 30 consecutive business days, the closing bid price of its common stock had been below the $1.00 per share minimum required for continued listing on The Nasdaq Global Market. The rule involved is Nasdaq Listing Rule 5450(a)(1). A bid price deficiency means the closing bid price has stayed below the exchange's minimum for that period. The filing says the Nasdaq deficiency notice has no immediate effect on the listing. The common stock continues to trade on The Nasdaq Global Market under the symbol SKYE for now. ## How the compliance period works Under Nasdaq Listing Rule 5810(c)(3)(A), Skye has 180 calendar days, or until September 14, 2026, to regain compliance with Rule 5450(a)(1). The company regains compliance if the bid price closes at $1.00 per share or more for a minimum of 10 consecutive business days at any time before September 14, 2026. If that happens, the Staff will provide written confirmation. The filing also addresses a reverse stock split, which combines existing shares into a smaller number of shares. If Skye chooses to carry out a reverse stock split, it must complete the split no later than ten business days prior to September 14, 2026 to regain compliance. If Skye does not regain compliance by September 14, 2026, it may be afforded a second 180 calendar day period. To qualify, the company would need to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. It would also need to notify Nasdaq of its intent to cure the deficiency during the second compliance period. Skye says it intends to actively monitor the closing bid price and will consider available options to resolve the deficiency and regain compliance with Rule 5450(a)(1). The filing adds that there can be no assurance the company will regain compliance or will otherwise be in compliance with other Nasdaq Listing Rules. ## About Skye In its [annual report on Form 10-K filed March 10, 2026](https://www.sec.gov/Archives/edgar/data/1516551/000162828026016394/skye-20251231.htm), Skye describes itself as a clinical-stage biotechnology company developing molecules that modulate G-protein-coupled receptors (GPCRs) to treat obesity, overweight and metabolic disorders. Its lead candidate is nimacimab, a peripherally restricted negative allosteric modulating antibody that targets cannabinoid receptor 1 (CB1). The 10-K says Skye acquired nimacimab when it completed its acquisition of Bird Rock Bio, Inc., a privately held, clinical-stage biotechnology company, in August 2023. The annual report lists several strategy elements. They include advancing nimacimab for patients with obesity and overweight as a combination therapy, evaluating it as a standalone or second-line therapy, and assessing it with incretin-based therapies. Skye also says it wants to pursue strategic partnerships and business development opportunities, including collaborations and licensing agreements. It plans to expand its pipeline through in-licensing or acquisitions of complementary metabolic health technologies that target GPCRs. ## Losses and the science The 10-K shows a net loss of $55.9 million for 2025, against $26.6 million for 2024, and cash used in operations of $43.1 million, against $25.2 million. Cash and cash equivalents were $68.4 million at the end of 2024. The 10-K describes nimacimab as still early in development and mentions an extension arm of its Phase 2a CBeyond trial. It also recounts the history of the CB1 approach: Sanofi's rimonabant was approved by the European Medicines Agency but was taken off the market because of severe adverse neuropsychiatric side effects, including suicidal ideation. Skye argues that nimacimab, a peripherally restricted antibody, avoids that problem, but that is the company's own claim. ## Who is involved Chief Executive Officer Punit Dhillon signed the 8-K for Skye on March 19, 2026. The 10-K signature page lists him as Director and Chief Executive Officer. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SKYE Skye Bioscience, Inc. 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Cite as: aibio.space, "Skye Bioscience gets Nasdaq bid price deficiency notice", 2026-03-19, https://aibio.space/news/skye-bioscience-gets-nasdaq-bid-price-deficiency-notice-has-until/