Skye Bioscience, Inc.
SKYE evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for SKYE—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SKYE
Skye Bioscience, Inc. is a clinical-stage biopharmaceutical company developing nimacimab, a monoclonal antibody targeting CB1 for obesity and metabolic diseases, with no approved products or revenue to date.
Key risk: Going concern uncertainty
BioSniper Score
Based on 6 of 6 signals
Market Cap
$7.9M
Cash Runway
4.3 moLead Asset
nimacimab (Phase 2)Next Catalyst
Phase2_Topline · Sep 30, 2026Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 2 clinical trials · 1 catalyst for Skye Bioscience, Inc..
Skye Bioscience, Inc. is a clinical-stage biopharmaceutical company developing nimacimab, a monoclonal antibody targeting CB1 for obesity and metabolic diseases, with no approved products or revenue to date.
- Lead drug candidate nimacimab is a monoclonal antibody targeting the CB1 receptor for obesity and metabolic diseases [sec_mda · as of 2026-03-10].
- No revenue generated to date; company relies on financing to fund operations [sec_mda · as of 2026-03-10].
- Cash & equivalents of $8.1M as of 2026-06-30; net loss of $10.8M for the period [sec].
- Independent auditor has expressed substantial doubt about ability to continue as a going concern [sec_mda · as of 2026-03-10].
- Phase 2a top-line data expected to inform Phase 2b dose-ranging study design and capital needs [sec_mda · as of 2025-08-07].
What works
- Nimacimab targets the CB1 receptor, a validated mechanism for obesity and metabolic diseases, with potential as both monotherapy and combination therapy [sec_mda · as of 2026-03-10].
- Company recovered $9M in restricted cash and $2M from insurance in 2024, extending cash runway [sec_mda · as of 2026-03-10].
- Phase 2a study top-line data expected to guide Phase 2b dose-ranging study, providing a clear development path [sec_mda · as of 2025-08-07].
What to weigh
- Company has no revenue and relies on external financing; cash of $8.1M as of 2026-06-30 may be insufficient for planned operations [sec].
- Independent auditor has expressed substantial doubt about going concern, indicating risk of ceasing operations [sec_mda · as of 2026-03-10].
- Clinical development is costly and uncertain; additional funds will be needed to initiate Phase 2b study [sec_mda · as of 2025-11-10].
- Company has not generated any revenue and does not expect to until regulatory approval or commercialization [sec_mda · as of 2026-03-10].
From the filings
Quoted directly from source documents.
Going concern risk
“Our independent registered public accounting firm has issued a report on our audited consolidated financial statements as of and for the year ended December 31, 2025 that included an explanatory paragraph referring to our recurring operating losses and expressing substantial doubt in our ability to continue as a going concern.”
SEC MD&A · March 10, 2026
No revenue to date
“To date, we have not generated any revenue.”
SEC MD&A · March 10, 2026
Cash runway extended by recovered funds
“The recovered funds have been reallocated to further our clinical pipeline and extend our cash runway.”
SEC MD&A · March 10, 2026
Phase 2a data to inform Phase 2b
“We expect that the top-line data for our Phase 2a study will inform the size and magnitude of the Phase 2b dose ranging study, including the capital necessary to move forward.”
SEC MD&A · August 7, 2025
Catalyst timeline
- 2026-09-30 · Phase2_Topline · nimacimab — Phase 2 Readout: nimacimab — Top-line data from Phase 2a study of nimacimab for obesity/metabolic disease will inform Phase 2b dose-ranging study design and capital requirements.
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Auditor expressed substantial doubt about ability to continue as a going concern [sec_mda · as of 2026-03-10].
- Cash runway insufficient — Cash of $8.1M as of 2026-06-30 may not fund planned operations without additional financing [sec].
- No revenue or approved products — Company has no revenue and does not expect any until regulatory approval or commercialization [sec_mda · as of 2026-03-10].
- Clinical development costs uncertain — Phase 2b study costs are not yet included in current cash runway estimates [sec_mda · as of 2025-11-10].
What to watch
- Phase 2a top-line data for nimacimab, expected to inform Phase 2b design and capital needs [sec_mda · as of 2025-08-07].
- Ability to raise additional capital through ATM agreement or other financings [sec_mda · as of 2025-11-10].
- Cash burn rate and whether cash runway extends beyond 12 months from latest reporting date [sec_mda · as of 2025-11-10].
- Any updates on going concern resolution or strategic collaborations [sec_mda · as of 2026-03-10].
Sources: SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
4.3 months
OCF -$7M · Net income -$11M
Lead: Phase 2
2 candidates
1 upcoming, next in ~31d
0 buys · 18 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
38
Total value held
$3.3M
| Holder | Shares | Value |
|---|---|---|
| baker bros. advisors lp | 1,575,243 | $968K |
| vanguard capital management llc | 1,528,914 | $940K |
| sphera funds management ltd. | 678,928 | $417K |
| blackrock, inc. | 286,131 | $176K |
| geode capital management, llc | 277,256 | $170K |
| millennium management llc | 258,200 | $159K |
| platinum investment management ltd | 233,095 | $143K |
| vanguard fiduciary trust co | 104,229 | $64K |
| citadel advisors llc | 98,900 | $61K |
| state street corp | 75,326 | $46K |
Showing top 10 of 38 institutional holders of Skye Bioscience, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 5.1%
- Days to cover
- 5.8
- Shares short
- 1,284,390
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SKYE short interestGovernance
Frequently asked questions
What is the AI investment thesis for Skye Bioscience, Inc.?
Skye Bioscience, Inc. is a clinical-stage biopharmaceutical company developing nimacimab, a monoclonal antibody targeting CB1 for obesity and metabolic diseases, with no approved products or revenue to date.
What is Skye Bioscience, Inc.'s lead drug candidate?
Skye Bioscience, Inc.'s most advanced tracked candidate is nimacimab (Phase 2) for Obesity.
What is Skye Bioscience, Inc.'s next catalyst?
Skye Bioscience, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: nimacimab" — expected September 30, 2026.
Who is the CEO of Skye Bioscience, Inc.?
Mr. Punit S. Dhillon B.A. is the chief executive officer of Skye Bioscience, Inc. (SKYE).
Where is Skye Bioscience, Inc. headquartered?
Skye Bioscience, Inc. (SKYE) is headquartered in San Diego, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.