Skye Bioscience, Inc. SKYE
Skye Bioscience, Inc. is a clinical-stage biotechnology company pioneering next-generation molecules that modulate G-protein-coupled receptors ("GPCRs") to treat obesity, overweight, and metabolic disorders. Our lead candidate, nimacimab, is a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1 ("CB1")—a key GPCR involved in metabolic regulation.
Except where the context indicates otherwise, references to "we," "us," "our," "Skye" or the" Company" refer to the company and its subsidiaries.
We believe there is a growing demand for therapies that offer improved safety, efficacy, tolerability, quality of life and long-term health outcomes while addressing the limitations of currently approved treatments. Our objective is to drive innovation in the treatment landscape for obesity, overweight and metabolic disorders by developing potential first-in-class therapies that meet significant unmet medical needs globally.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D | — | — | — | $6.0M | $2.9M | $1.9M | $2.2M | $330.0K | $311.3K | $939.0K |
| SG&A | $15.8M | $17.7M | $7.9M | $6.1M | $4.9M | $4.3M | $4.4M | $4.4M | $3.5M | $3.5M |
| Total operating expenses | $58.2M | $30.2M | $34.7M | $18.3M | $7.8M | $6.3M | $6.6M | $4.7M | $3.9M | $4.5M |
| Operating income | -$58.2M | -$30.2M | -$34.7M | -$18.3M | -$7.8M | -$6.3M | -$6.6M | -$4.7M | -$3.9M | -$4.5M |
| Interest expense | $0 | $749.3K | $906.3K | $665.1K | $769.2K | $706.4K | $1.0M | $94.8K | $667 | — |
| Pre-tax income | -$55.9M | -$26.6M | -$37.6M | -$19.5M | -$8.5M | -$6.6M | $1.1M | -$19.2M | -$3.1M | -$3.2M |
| Income tax | $5.4K | $10.1K | $3.6K | $6.7K | $2.1K | $1.6K | $1.6K | $1.6K | $1.6K | $1.6K |
| Net income | -$55.9M | -$26.6M | -$37.6M | -$19.5M | -$8.5M | -$6.6M | $1.1M | -$19.2M | -$3.1M | -$3.2M |
| EPS, basic | -1.41 | -0.73 | -5.37 | -8.77 | -0.02 | -0.03 | 0.01 | -0.16 | -0.11 | -0.17 |
| EPS, diluted | -1.41 | -0.73 | -5.37 | -8.77 | -0.02 | -0.03 | -0.05 | -0.16 | -0.11 | -0.17 |
| Shares, diluted (wtd. avg.) | $39.7M | $36.5M | $7.0M | $2.2M | $406.6M | $231.4M | $169.6M | $121.2M | $27.9M | $18.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.9M | $68.4M | $10.3M | $1.2M | $9.0M | $2.5M | $1.8M | $1.9M | $264.4K | $102.3K |
| Short-term investments | $19.9M | $0 | — | — | — | — | — | — | — | — |
| Total current assets | $27.1M | $70.8M | $11.7M | $8.9M | $9.6M | $2.7M | $2.0M | $2.0M | $555.8K | $279.5K |
| Property, plant and equipment | $898.9K | $1.4M | $43.3K | $87.9K | $87.7K | $7.3K | $2.0K | $3.4K | $1.4K | $9.6K |
| Total assets | $28.3M | $72.8M | $11.9M | $9.1M | $9.9M | $2.7M | $2.0M | $2.0M | $557.2K | $323.4K |
| Accounts payable | $2.0M | $569.3K | — | $1.7M | $897.9K | $364.3K | $129.8K | $15.6K | $100.9K | $274.6K |
| Total current liabilities | $8.2M | $4.3M | $13.9M | $12.1M | $3.9M | $787.2K | $970.8K | $15.9M | $806.0K | $662.0K |
| Total liabilities | $8.3M | $4.6M | $14.1M | $12.1M | $4.0M | $2.2M | $1.4M | $17.5M | $1.4M | $1.8M |
| Retained earnings | -$186.9M | -$130.9M | -$104.4M | -$66.7M | -$47.3M | -$38.7M | -$32.2M | -$33.2M | -$14.0M | -$10.9M |
| Total equity | $20.0M | $68.2M | -$2.1M | -$3.0M | $5.9M | $450.8K | $548.1K | -$15.6M | -$3.6M | -$2.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$43.1M | -$25.2M | -$14.0M | -$12.7M | -$6.5M | -$6.1M | -$6.0M | -$3.9M | -$3.3M | -$3.6M |
| Depreciation and amortisation | $723.4K | $298.6K | $124.3K | $115.0K | $34.1K | $1.9K | $1.5K | $1.5K | $8.0K | $14.9K |
| Stock-based compensation | $7.8M | $8.3M | $987.5K | $629.0K | $869.2K | $302.7K | $680.5K | $675.0K | $608.7K | $706.4K |
| Capital expenditure | $6.3K | $1.6M | $12.6K | $28.1K | $90.9K | $7.2K | — | $4.4K | $19.7K | $11.1K |
| Investing cash flow | -$19.5M | -$245.6K | $6.6M | $5.2M | -$90.9K | -$7.2K | — | -$4.4K | -$19.7K | -$11.1K |
| Financing cash flow | $29.6K | $83.6M | $16.4M | -$208.8K | $13.1M | $6.7M | $6.0M | $5.5M | $3.5M | $407.7K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-025368.
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