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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$3.2M | -$3.1M | -$19.2M | $1.1M | -$6.6M | -$8.5M | -$19.5M | -$37.6M | -$26.6M | -$55.9M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
- Shareholder rights changed Item 3.03
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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