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Skye Bioscience
(NASDAQ:SKYE)
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Rating:42Neutral
Price Target:
$0.35
▼(-46.92% Downside)
Action:Reiterated
Date:08/20/26
The score is held down primarily by weak financial performance (no revenue, widening losses, and large cash burn) and bearish technical trends (trading well below key moving averages with negative momentum). Corporate events provide some support via new financing tied to the Redx merger, but Nasdaq compliance/delisting risk and potential dilution keep overall risk elevated. Valuation metrics offer limited help due to negative earnings and no dividend data.
Positive Factors
Strong financing and development runway
The sizable financing package provides multi-year funding for clinical development, reducing near-term dependence on capital markets and allowing the combined company to pursue important milestones without immediately slowing its pipeline.
Negative Factors
Pre-revenue model with widening losses
Without commercial revenue, Skye remains dependent on financing or future partnering to support operations. Widening losses indicate that development spending is not yet producing an offsetting earnings base, increasing execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong financing and development runway
The sizable financing package provides multi-year funding for clinical development, reducing near-term dependence on capital markets and allowing the combined company to pursue important milestones without immediately slowing its pipeline.
Read all positive factors
Skye Bioscience (SKYE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.70M
Dividend YieldN/A
Average Volume (3M)115.36K
Price to Earnings (P/E)―
Beta (1Y)3.13
Revenue GrowthN/A
EPS Growth-19.08%
CountryUS
Employees2
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.27
Shares Outstanding35,421,413
10 Day Avg. Volume125,555
30 Day Avg. Volume115,358
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.48
Price to Sales (P/S)0.00
P/FCF Ratio-0.69
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$20.00Price Target Upside2976.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.01
Revenue Forecast (FY)N/A
Skye Bioscience Business Overview & Revenue Model
Company Description
Skye Bioscience, Inc., a clinical-stage biotechnology company, focuses on developing molecules that modulate G-protein-coupled receptors (GPCRs) to treat obesity, overweight, and metabolic diseases. Its lead product candidate is nimacimab, a perip...
How the Company Makes Money
Skye Bioscience is a clinical-stage biopharmaceutical company, and specific, recurring commercial product revenue is null. The company’s funding and revenue model primarily consists of raising capital to fund research and development (e.g., throug...
Skye Bioscience Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong financial health and promising Phase 2a study results highlighting the potential of Nimazumab in combination with semaglutide. However, increased R&D expenses, a larger net loss, concerns about monotherapy efficacy, and limited study enrollment were notable challenges.Positive Updates
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Negative Updates
Increased R&D Expenses
R&D expenses for Q3 2025 increased to $9.4 million from $4.9 million in Q3 2024, primarily due to contract manufacturing and clinical trial costs.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Read all positive updates
Company Guidance
In the Skye Bioscience, Inc. third-quarter 2025 earnings call, the company provided detailed guidance on its financial and clinical development milestones. Key financial highlights included ending the quarter with $35.3 million in cash and equivalents, with expectations to fund operations into 2027. R&D expenses increased to $9.4 million from $4.9 million in the previous year due to ongoing clinical trials, including those for Nolasimab and Nimazumab. Notably, the company reported a net loss of $12.8 million, attributed partly to non-cash share-based compensation expenses. Clinical updates focused on the promising results from the Phase 2a CBEYOND study, showing a 3% additional weight loss with Nimazumab plus semaglutide compared to semaglutide alone, with a significant p-value of 0.0372. The study also demonstrated improvements in lean to fat mass ratio and reduced waist circumference, with retention strong in the extension study. The company is advancing Nimazumab's dose concentration strategy and plans to evaluate higher doses in future studies, keeping scalability and patient convenience in focus.Skye Bioscience Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
22
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -172.89K | -723.35K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -49.95M | -55.20M | -25.29M | -36.62M | -18.70M | -7.72M |
| Net Income | -50.49M | -55.92M | -26.57M | -37.64M | -19.48M | -8.52M |
Balance Sheet | ||||||
| Total Assets | 11.03M | 28.31M | 72.76M | 11.94M | 9.11M | 9.86M |
| Cash, Cash Equivalents and Short-Term Investments | 10.06M | 25.74M | 68.42M | 1.26M | 1.24M | 8.98M |
| Total Debt | 35.70K | 273.65K | 455.59K | 4.62M | 1.98M | 2.14M |
| Total Liabilities | 11.53M | 8.29M | 4.61M | 14.07M | 12.12M | 3.99M |
| Stockholders Equity | -497.31K | 20.02M | 68.15M | -2.13M | -3.01M | 5.86M |
Cash Flow | ||||||
| Free Cash Flow | -38.81M | -43.07M | -26.84M | -13.96M | -12.77M | -6.57M |
| Operating Cash Flow | -38.81M | -43.06M | -25.24M | -13.95M | -12.74M | -6.47M |
| Investing Cash Flow | 23.20M | -19.50M | -245.62K | 6.60M | 5.21M | -90.87K |
| Financing Cash Flow | -161.13K | 29.57K | 83.56M | 16.44M | -208.79K | 13.08M |
Skye Bioscience Technical Analysis
Negative
0.65
Price Trends
0.63
Negative
0.71
Negative
0.85
Negative
Market Momentum
-0.07
Positive
19.49
Positive
12.58
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SKYE, the sentiment is Negative. The current price of 0.65 is above the 20-day moving average (MA) of 0.54, above the 50-day MA of 0.63, and below the 200-day MA of 0.85, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 19.49 is Positive, neither overbought nor oversold. The STOCH value of 12.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SKYE.
Skye Bioscience Risk Analysis
Skye Bioscience disclosed 96 risk factors in its most recent earnings report. Skye Bioscience reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Some of our executive officers and directors have interests in the Transaction that are different from our stockholders and that may influence them to support or approve the Transaction without regard to the interests of our stockholders. Q2, 2026
2.
Our stockholders may not realize a benefit from the Transaction commensurate with the ownership dilution they will experience in connection with the Transaction. Q2, 2026
3.
Our equityholders will have a reduced ownership and voting interest in, and will exercise less influence over the management of, the combined company following the completion of the Transaction as compared to their current ownership and voting interests in the respective companies. Q2, 2026
Skye Bioscience Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $59.12M | -3.09 | -82.87% | ― | -100.00% | 72.25% | |
54 Neutral | $33.24M | -1.60 | -456.35% | ― | ― | 9.68% | |
52 Neutral | $33.01M | 2.92 | 83.42% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $125.70M | -0.70 | <0.01% | ― | ― | ― | |
42 Neutral | $14.70M | -0.30 | -217.27% | ― | ― | -19.08% | |
40 Underperform | $27.86M | -0.19 | 69.92% | ― | -14.52% | 66.63% |
* Healthcare Sector Average
SKYE
Skye Bioscience
0.31
-3.20
-91.29%
ATNM
Actinium Pharmaceuticals
1.13
-0.51
-31.10%
OTLK
Outlook Therapeutics
0.69
-1.70
-71.13%
BTAI
Bioxcel Therapeutics
0.83
-4.21
-83.59%
INMB
Inmune Bio
2.23
-0.13
-5.51%
LTRN
Lantern Pharma
2.49
-1.98
-44.30%
Skye Bioscience Corporate Events
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Skye Bioscience Faces Nasdaq Compliance and Delisting Risk
Negative
Aug 19, 2026
On August 18, 2026, Skye Bioscience received a notice from Nasdaq that its stockholders’ equity was negative $497,307 as of June 30, 2026, putting it out of compliance with the Nasdaq Capital Market’s $2.5 million minimum equity requir...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Skye Bioscience to Merge with Redx, Form Fibrx Therapeutics
Positive
Aug 14, 2026
On August 14, 2026, Skye Bioscience agreed to acquire U.K.-based Redx Pharma, combining to form Fibrx Therapeutics, a Nasdaq-listed biotech focused on fibrotic diseases and led by Redx’s management team and board. The deal is structured via ...
Delistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
Skye Bioscience Moves Listing to Nasdaq Capital Market
Negative
Jun 23, 2026
On June 18, 2026, Skye Bioscience received approval from Nasdaq staff to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective June 23, 2026, after its March 31, 2026 quarterly report showed stockholders’...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Skye Bioscience Expands Authorized Shares After Shareholder Approval
Positive
May 29, 2026
On May 28, 2026, Skye Bioscience, Inc. amended its Articles of Incorporation to increase its authorized common stock from 100,000,000 to 300,000,000 shares, a move that did not change the currently issued and outstanding shares but expanded the co...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.