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Skye Bioscience (SKYE)
NASDAQ:SKYE
Earnings Data
Report Date
Aug 08, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.31Last Year’s EPS
-0.2Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Date:May 08, 2025
|% Change Since: 15.64%
|Next Earnings Date:Aug 08, 2025
Earnings Call Sentiment|Positive
The earnings call was predominantly positive, with significant achievements in clinical and manufacturing milestones for nimacimab, a strong financial position, and a positive safety profile. However, the increase in expenses and the discontinuation of SBI-100 were noted as challenges. Overall, the highlights significantly outweighed the lowlights.Company Guidance
In the Skye Bioscience Year-End 2024 Earnings Call, the company provided substantial guidance for its ongoing clinical efforts and financial outlook. Skye reported that it completed enrollment in its CBeyond clinical trial with 136 patients, exceeding the originally planned 120, and anticipates topline data by late Q3 or early Q4 2025, three months earlier than initially guided. The company successfully raised $90 million from institutional investors in early 2024, which fueled its clinical operations, including the initiation of the CBeyond trial. Skye also announced a protocol extension allowing all treatment arms to continue receiving therapy for an additional 26 weeks, totaling a 52-week treatment period. Financially, Skye reported a net loss of $26.6 million for the year, with research and development expenses increasing to $18.7 million, primarily driven by costs associated with the Phase IIa CBeyond study. Skye ended 2024 with $68.4 million in cash and cash equivalents, expecting this to fund operations through Q1 2027. The company remains focused on nimacimab's potential as a differentiated treatment for obesity and is preparing for its Phase IIb study by Q2 2026, while also working on manufacturing optimizations.Successful $90 Million Investment
In early 2024, Skye Bioscience secured a $90 million investment from top life science institutional investors, which enabled the company to execute its clinical and operational goals for the year.
Accelerated Clinical Trial Enrollment
The CBeyond clinical trial for nimacimab exceeded expectations with an over-enrollment of 136 patients, compared to the originally planned 120. The trial is expected to yield data 3 months earlier than initially planned.
Positive Safety Profile
The independent Data Safety Monitoring Board (DSMB) held two meetings for nimacimab's Phase IIa trial and recommended continuing the study as planned, indicating a favorable safety profile.
Manufacturing Process Advancements
Skye successfully transferred the manufacturing process for nimacimab to a partner and began GMP manufacturing runs, preparing for scale-up and commercialization.
Strategic Focus on Nimacimab
The company decided to discontinue SBI-100 development to focus resources on nimacimab, which demonstrated significant weight loss in preclinical studies without crossing the blood-brain barrier.
Financial Improvements
Skye reported a decrease in net loss from $37.6 million in 2023 to $26.6 million in 2024, and maintained cash and cash equivalents of $68.4 million at the end of 2024.
SKYE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SKYE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 08, 2025 | $1.79 | $1.81 | +1.12% |
Mar 20, 2025 | $1.89 | $2.25 | +19.05% |
Nov 07, 2024 | $5.44 | $5.71 | +4.96% |
Aug 09, 2024 | $4.52 | $4.60 | +1.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Skye Bioscience (SKYE) report earnings?
Skye Bioscience (SKYE) is schdueled to report earning on Aug 08, 2025, TBA Not Confirmed.
What is Skye Bioscience (SKYE) earnings time?
Skye Bioscience (SKYE) earnings time is at Aug 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SKYE EPS forecast?
SKYE EPS forecast for the fiscal quarter 2025 (Q2) is -0.31.