SKYE
Skye Bioscience, Inc.
Next earnings Aug 5, 2026 · consensus $-0.25 EPS
Last earnings +10.4% on 2026-03-10
$0.70
▲ +4.47%$0.70▼ -82.96%
over 1Y
L $0.58H $4.75
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.5%
1W-1.1%
1M-1.9%
3M+0.4%
YTD-20.2%
1Y-83.0%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 14 analysts
Buy
Going-concern biotech with $5.9M cash against a $43M burn, one drug that pivoted after Phase 2a — not investable until financed.
Cash & equivalents $5.88M · FY2025
Skye is a single-asset, clinical-stage biotech whose survival is a financing question, not a valuation one. The auditor has flagged substantial doubt about its ability to continue as a going concern, and the balance sheet shows why: cash and equivalents collapsed 91.4% to $5.88M while FY2025 operating cash burn was -$43.1M and the net loss widened to -$55.9M (from -$26.6M in FY2024). At that burn rate the company has weeks, not quarters, of runway before it must raise — meaning near-certain, heavy dilution via the $100M ATM (Piper Sandler) or another PIPE. With only 33.4M shares and a ~$23M market cap sitting barely above the $20.0M book equity that is itself evaporating (-70.6% YoY), existing holders face severe erosion. There is no revenue in any year of the provided history, so there is nothing to value on except the drug.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 12:36 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is SKYE a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | -$7.85M | -$18.3M | -$34.7M | -$30.2M | -$58.2M |
| Net income | -$8.52M | -$19.5M | -$37.6M | -$26.6M | -$55.9M |
| Diluted EPS | -$0.02 | -$8.77 | -$5.37 | -$0.73 | -$1.41 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$18.7M
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-227.2%
FCF yield-174.9%
Quality & risk
ROIC (est.)-229.5%
Free cash flow-$43.1M
Total debt—
Net cash$5.88M
Piotroski F-Score1/6
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+7.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Other event2026-06-23
Item 8.01 other-events disclosure; likely clinical or financing update on nimacimab
- 8-K Charter / bylaws change2026-05-29
Annual meeting vote results + charter amendment (likely reverse split to keep Nasdaq)
- 8-K Delisting notice2026-05-15
Item 3.01: renewed Nasdaq listing-deficiency notice — delisting risk persists
- 10-Q Quarterly report2026-05-11
Q1'26: cash runway thin, going-concern doubt as combo pivot burns capital
- DEF 14A Proxy statement2026-04-16
Annual meeting proxy — routine director/auditor votes, no financial impact
- 8-K/A Amended 8-K2026-04-06
Amendment adding detail to prior 8-K (officer change); no new substance
- 8-K Officer / director change2026-04-03
Item 5.02 executive/board change amid post-Phase 2a strategic pivot
- 8-K Delisting notice2026-03-19
Item 3.01: Nasdaq minimum-bid/listing deficiency notice at ~$0.70 stock
- 8-K Earnings results2026-03-10
FY2025 10-K: going-concern doubt, $5.9M cash, pivot to nimacimab combo therapy
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-182026-06-23open ↗8-KPeriod ending 2026-05-262026-05-29open ↗8-KPeriod ending 2026-05-132026-05-15open ↗10-QPeriod ending 2026-03-312026-05-11open ↗3Period ending 2026-03-312026-04-28open ↗ARSPeriod ending 2025-12-312026-04-16open ↗DEFA14AFiling2026-04-16open ↗DEF 14APeriod ending 2026-05-262026-04-16open ↗PRE 14APeriod ending 2026-04-062026-04-06open ↗PREM14APeriod ending 2026-04-062026-04-06open ↗8-K/APeriod ending 2026-03-312026-04-06open ↗8-KPeriod ending 2026-03-312026-04-03open ↗
Frequently asked
- Is Skye Bioscience, Inc. (SKYE) a buy?
- SKYE currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Going-concern biotech with $5.9M cash against a $43M burn, one drug that pivoted after Phase 2a — not investable until financed.
- What is Skye Bioscience, Inc.'s quality score?
- SKYE scores 33.7898607539359/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001516551, latest 10-Q filed 2026-05-11) · EODHD · Proprietary analysis · as of 7/4/2026, 4:36:16 AM.
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