aibioSkye Bioscience gets Nasdaq notice: stockholders' equity was ($497,307)
Tickers SKYE
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.
Key facts
- Company
- Skye Bioscience, Inc. (NASDAQ: SKYE)
- News type
- Listings
- Primary source
- Skye Bioscience, Inc. 8-K (2026-08-19)
Skye Bioscience, Inc. received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on August 18, 2026. The notice says that, based on the company's quarterly report on Form 10-Q for the quarter ended June 30, 2026, its stockholders' equity was ($497,307). Nasdaq Capital Market Listing Rule 5550(b)(1) requires at least $2,500,000 of stockholders' equity, so the company was not in compliance. The company reported the notice in a Form 8-K dated August 18, 2026. It is a Nevada corporation headquartered at 11250 El Camino Real in San Diego, California.
The deadline and the appeal path
The notice has no immediate effect on the listing or trading of the common stock, which continues to trade on the Nasdaq Capital Market under the symbol SKYE. Under Nasdaq Marketplace Rule 5810(c)(2)(C), the company has 45 calendar days, or until October 2, 2026, to submit a specific plan to regain compliance and a timeline for carrying it out.
If Nasdaq accepts the plan, it can grant an extension of up to 180 calendar days from the date of the notice, which would run to February 14, 2027. If the plan is not accepted, the company may appeal, and the stock would stay listed until the appeal is complete. To regain compliance, the company must hold stockholders' equity of at least $2,500,000.
The 8-K says the company is evaluating various alternative courses of action. It adds that there can be no assurance it will regain compliance with the equity requirement or maintain compliance with the other listing requirements.
The pending deal
The 8-K also describes a proposed acquisition of Redx Pharma Limited, under a transaction agreement dated August 14, 2026 between Skye and Redx. The company says it intends to file a proxy statement, and it warns of uncertainty about obtaining stockholder approval. Its forward-looking statements list the possibility of competing acquisition proposals, the risk that the transaction agreement is terminated, and the effects of a reverse stock split on Nasdaq listing as risks.
The filing does not give the transaction's value or terms in detail, and it does not say how the transaction would change the equity figure in the notice. It says the Skye securities to be issued in the transaction are anticipated to be issued in reliance on the Section 3(a)(10) exemption from registration under the Securities Act. The filing was signed by Chief Executive Officer Punit Dhillon and marked as soliciting material under Rule 14a-12.
The finances behind the notice
The company's annual report, filed March 10, 2026, describes Skye as a clinical-stage biotechnology company developing molecules that modulate G-protein-coupled receptors to treat obesity and metabolic disorders. Its lead candidate is nimacimab, a peripherally restricted antibody that negatively modulates the CB1 receptor. The company acquired nimacimab through its acquisition of Bird Rock Bio, Inc. in August 2023. The report says the company is evaluating nimacimab in combination with incretin-based therapies and pursuing partnerships and licensing agreements.
XBRL data show a 2025 net loss of $55.9 million, up from $26.6 million in 2024. Cash used in operations was $43.1 million in 2025, against $25.2 million in 2024. Cash and cash equivalents were $68.4 million at the end of 2024. A 10-Q filed August 14, 2026 reports $5.9 million in cash and cash equivalents and $19.9 million in short-term investments at the end of 2025. At June 30, 2026, cash and cash equivalents were $8.1 million and short-term investments were $2.0 million.
The notice names the stockholders' equity deficit but does not give the company's total liabilities, its accumulated deficit or its share count. The 8-K does not describe a financing or a reverse split ratio.
What comes next
The company's plan is due by October 2, 2026. Whether Nasdaq grants the extension depends on that plan and the timing it sets out. The 8-K itself does not say whether the company will submit a plan on time, or what the plan will be.