We were incorporated in the State of Nevada on March 16, 2011. We are a clinical stage pharmaceutical company focused on the discovery, development and commercialization of a novel class of cannabinoid derivatives to modulate the endocannabinoid system, which has been shown to play a vital role in overall human health and, notably, in multiple ocular indications. We are developing novel cannabinoid derivatives through our own directed research efforts and multiple license agreements. We have retained Novotech as our contract research organization ("CRO") in Australia and commenced our Phase 1 trial in December 2022. We have also filed our IND for SBI-100 OE in the United States in anticipation of the start of our Phase 2 clinical trial in 2023, which we expect to commence in mid 2023.
Company profile
Ticker
SKYE
Exchange
Website
CEO
Brian Murphy
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Emerald Bioscience, Inc., Nemus Bioscience, Inc., LOAD GUARD LOGISTICS, INC.
SEC CIK
Corporate docs
Subsidiaries
Skye Bioscience Pty Ltd. • Emerald Health Therapeutics, Inc. • Avalite Sciences, Inc. • Bird Rock Bio Sub, Inc. • Ruiyi Acquisition Corporation ...
SKYE stock data
Latest filings (excl ownership)
S-1
IPO registration
27 Mar 24
D
$40.00 mm in equity, sold $40.00 mm, 13 investors
26 Mar 24
10-K
2023 FY
Annual report
21 Mar 24
8-K
Entry into a Material Definitive Agreement
13 Mar 24
8-K
Skye Bioscience Appoints Dr. Annalisa Jenkins to Board of Directors
4 Mar 24
8-K
Other Events
12 Feb 24
D
$49.99 mm in equity / options, sold $49.99 mm, 11 investors
12 Feb 24
8-K
Skye Bioscience Announces $50.25 Million Private Placement Equity Financing
29 Jan 24
S-8
Registration of securities for employees
21 Dec 23
8-K
Entry into a Material Definitive Agreement
5 Dec 23
Latest ownership filings
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 14.21 mm | 14.21 mm | 14.21 mm | 14.21 mm | 14.21 mm | 14.21 mm |
Cash burn (monthly) | (no burn) | (no burn) | 8.32 mm | 3.59 mm | 1.35 mm | 1.25 mm |
Cash used (since last report) | n/a | n/a | 49.51 mm | 21.39 mm | 8.05 mm | 7.43 mm |
Cash remaining | n/a | n/a | -35.30 mm | -7.18 mm | 6.16 mm | 6.78 mm |
Runway (months of cash) | n/a | n/a | -4.2 | -2.0 | 4.6 | 5.4 |
Institutional ownership, Q2 2023
13F holders | Current |
---|---|
Total holders | 2 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 5.47 mm |
Total shares | 170.41 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Emerald Health Sciences | 169.41 mm | $5.47 mm |
Bigger Capital Fund L P | 1.00 mm | $0.00 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
13 Mar 24 | 5AM Partners VII | Common Stock | Buy | Acquire P | Yes | No | 10 | 450,000 | 4.50 mm | 8,393,520 |
13 Mar 24 | Schwab Andrew J. | Common Stock | Grant | Acquire A | Yes | No | 10 | 450,000 | 4.50 mm | 8,393,520 |
29 Feb 24 | Kaitlyn Melanie Arsenault | Common Stock | Grant | Acquire A | No | No | 0 | 25,000 | 0.00 | 210,738 |
29 Feb 24 | Kaitlyn Melanie Arsenault | Stock Option Common Stock | Grant | Acquire A | No | No | 14.56 | 75,000 | 1.09 mm | 75,000 |
29 Feb 24 | Punit Dhillon | Common Stock | Grant | Acquire A | No | No | 0 | 100,000 | 0.00 | 397,006 |
29 Feb 24 | Punit Dhillon | Stock Option Common Stock | Grant | Acquire A | No | No | 14.56 | 125,000 | 1.82 mm | 125,000 |
29 Feb 24 | Dalesandro Margaret | Stock Option Common Stock | Grant | Acquire A | No | No | 14.56 | 35,000 | 509.60 k | 35,000 |