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SKYE

Skye Bioscience, Inc.

SKYE

Skye Bioscience, Inc. • NASDAQ
$1.31 ▲ 0.00% (+0.00)
Market Cap $41.98 M
52w High $5.75
52w Low $1.14
Dividend Yield 0%
P/E -1.01
Volume 66.72K
Outstanding Shares 32.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $13.265M ▼ $-12.755M ▲ 0% $-0.32 ▲ $-12.576M ▲
Q2-2025 $0 $18.244M ▲ $-17.625M ▼ 0% $-0.44 ▼ $-17.434M ▼
Q1-2025 $0 $11.76M ▲ $-11.103M ▼ 0% $-0.28 ▼ $-10.922M ▼
Q4-2024 $0 $10.666M ▲ $-9.746M ▼ 0% $-0.24 ▼ $-9.618M ▼
Q3-2024 $0 $4.969M $-3.898M 0% $-0.1 $-3.541M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $35.312M ▼ $41.324M ▼ $8.488M ▲ $32.836M ▼
Q2-2025 $48.585M ▼ $52.161M ▼ $8.484M ▲ $43.677M ▼
Q1-2025 $59.224M ▼ $64.793M ▼ $5.543M ▲ $59.25M ▼
Q4-2024 $68.416M ▲ $72.764M ▼ $4.612M ▼ $68.152M ▼
Q3-2024 $67.413M $81.536M $5.732M $75.803M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.755M ▲ $-13.364M ▼ $7.967M ▲ $0 ▼ $-5.397M ▲ $-13.364M ▼
Q2-2025 $-17.625M ▼ $-10.746M ▲ $-11.855M ▲ $18.158K ▲ $-22.583M ▲ $-10.746M ▲
Q1-2025 $-11.103M ▼ $-9.185B ▼ $-12.809B ▼ $0 ▼ $-21.994B ▼ $-9.192B ▼
Q4-2024 $-9.746M ▼ $-8.173M ▼ $90.41K ▲ $5.618K ▲ $-8.077M ▼ $-8.223M ▼
Q3-2024 $-3.898M $-5.263M $-1.446M $0 $-6.708M $-6.781M

Five-Year Company Overview

Income Statement

Income Statement Skye Bioscience is still a pure research-stage company with no product sales yet, so its income statement is entirely driven by expenses, mainly research and development and corporate overhead. The company has reported steady losses each year, which is typical for early-stage biotech focused on clinical trials rather than commercial activity. Earnings per share look very volatile, largely because of changes in the share count and the reverse stock split, not because the underlying business has suddenly swung up or down. Overall, the business is in an investment phase: money is being spent to advance the pipeline, with the hope of future revenue if the lead drug succeeds, but there is currently no offsetting income coming in.

Balance Sheet

Balance Sheet The balance sheet is very simple and quite lean. Assets are small and are largely made up of cash, with few physical or long-lived assets. There is no financial debt, which reduces interest burdens and default risk, but also highlights that the company is funded almost entirely by equity. Equity roughly mirrors the cash position, underscoring that most of shareholders’ capital is sitting in the bank to fund trials. The main concern is that the overall balance sheet is thin, leaving limited cushion if development costs rise or timelines extend. Any setbacks in clinical progress could quickly increase pressure to raise fresh capital.

Cash Flow

Cash Flow Cash flow reflects the profile of a clinical-stage biotech: cash consistently flows out of the business through operating activities to fund trials, staff, and overhead. There is essentially no spending on large equipment or facilities, so capital expenditures are negligible; the real drain is everyday operating cash burn. Because there is no revenue, every new trial milestone or expansion of the pipeline will likely require additional funding from investors or partners. The ability to keep financing this cash burn over time will be critical, especially as the company moves into more expensive later-stage studies.

Competitive Edge

Competitive Edge Skye is aiming at one of the most competitive areas in healthcare: obesity and metabolic disease, where very large pharmaceutical companies already dominate with GLP‑1 based drugs. The company’s edge is a differentiated mechanism through nimacimab, which targets a validated metabolic pathway via the CB1 receptor but is designed to avoid the brain-related side effects that hampered earlier drugs in this class. Strong patent protection into the next decade and encouraging early data in combination with existing obesity drugs create a potential niche as a complementary therapy. However, Skye is a small player with one main asset, going up against much larger, better-funded rivals, and it will likely need partnerships or very careful execution to secure a lasting foothold. Ongoing litigation about past disclosures is an additional overhang that could distract management and influence perception of the company.

Innovation and R&D

Innovation and R&D The core of Skye’s value lies in its science. The company has fully pivoted from eye diseases to metabolic disorders, centering nearly all its R&D on nimacimab. This antibody is designed to work mainly outside the brain, to harness the benefits of CB1 inhibition while avoiding the psychiatric side effects seen with older pills in this class. Its novel binding approach and long-acting profile support a once-monthly injection and differentiate it from current obesity drugs. Early human data showed mixed results: the standalone dose used in one trial arm underperformed expectations, but the combination with a leading GLP‑1 drug added meaningful extra weight loss without extra side effects. The extension of this trial and exploration of higher monotherapy doses are key scientific milestones ahead. Management has also stated an intention to build a broader metabolic pipeline, but for now the innovation story is highly concentrated in one lead program, which raises both the upside and the risk.

Summary

Skye Bioscience is a classic high-risk, high-uncertainty early-stage biotech: no revenue, recurring losses, and a small but clean balance sheet dominated by cash and equity. Its future hinges on a single, differentiated obesity candidate with an attractive scientific rationale and encouraging combination data, but in a fiercely competitive market led by much larger companies. Financially, the company depends on ongoing access to capital markets or strategic partners to fund its cash burn as trials advance. Scientifically, upcoming clinical readouts and dosing refinements for nimacimab will be pivotal in determining whether Skye’s focused bet on metabolic disease can translate into a sustainable business. Investors and stakeholders will need to weigh the promise of a novel mechanism and strong intellectual property against the concentrated pipeline, funding needs, competitive intensity, and legal overhang.

NEWS

November 29, 2025 · 11:05 PM UTC

ROSEN, LEADING INVESTOR COUNSEL, Encourages Skye Bioscience, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - SKYE

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November 29, 2025 · 8:28 AM UTC

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Skye Bioscience

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November 28, 2025 · 11:05 PM UTC

ROSEN, NATIONAL TRIAL LAWYERS, Encourages Skye Bioscience, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - SKYE

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November 28, 2025 · 11:46 AM UTC

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Skye Bioscience and Perrigo and Encourages Investors to Contact the Firm

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November 28, 2025 · 11:08 AM UTC

UPCOMING DEADLINE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Skye Bioscience

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