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[8-K] Skye Bioscience, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Skye Bioscience reported that Nasdaq has notified the company it no longer meets the Nasdaq Global Market stockholders’ equity requirement. Based on its Form 10-Q for the quarter ended March 31, 2026, stockholders’ equity was $9,011,804, below the $10,000,000 minimum under Listing Rule 5450(b)(1)(A).

The notice does not immediately affect trading, and the stock continues on the Nasdaq Global Market under the symbol SKYE. Skye has 45 days, until June 29, 2026, to submit a plan to regain compliance, with a potential extension of up to 180 days, to November 9, 2026, if Nasdaq accepts its plan. Failure to regain compliance could ultimately lead to delisting after any appeal process.

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Insights

Nasdaq equity deficiency notice raises delisting risk for Skye.

Skye Bioscience’s stockholders’ equity of $9,011,804 as of the quarter ended March 31, 2026 fell below Nasdaq Global Market’s $10,000,000 minimum under Listing Rule 5450(b)(1)(A). This triggers a formal compliance process with potential delisting consequences.

Under Nasdaq Marketplace Rule 5810(c)(2)(C), Skye has 45 days, until June 29, 2026, to submit a remediation plan, and may receive up to a 180-day extension, to November 9, 2026, if accepted. Actual outcomes depend on Skye’s ability to bolster equity and maintain other listing standards.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities
The company received a delisting notice or transferred its listing to a different exchange.
Understanding 8-K Material Events →
FALSE00015165515/13/202600015165512026-03-102026-03-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): May 13, 2026
 
SKYE BIOSCIENCE, INC.
(Exact name of registrant as specified in its charter)

Nevada 000-55136 45-0692882
(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number)
 
11250 El Camino Real, Suite 100, San Diego, CA 92130
(Address of principal executive offices)
 
(858) 410-0266
(Registrant’s telephone number, including area code)
_________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions.
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock, par value $0.001
SKYE
Nasdaq Global Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 13, 2026, Skye Bioscience, Inc. (the “Company” or “Skye”) received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based on the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, the Company’s stockholders’ equity was $9,011,804, and therefore, the Company was not in compliance with Nasdaq Global Market’s Listing Rule 5450(b)(1)(A), which requires a $10,000,000 minimum stockholders’ equity standard. The Notice has no immediate effect on the listing or trading of the Company’s common stock, par value $0.001 per share (the “common stock”) on the Nasdaq Global Market and the common stock will continue to trade under the symbol “SKYE”.

Pursuant to Nasdaq Marketplace Rule 5810(c)(2)(C), the Company has been provided 45 calendar days, or until June 29, 2026, to supply a specific plan to regain compliance with all Nasdaq Global Market listing requirements and the Company’s time frame to complete its plan. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the Notice, or until November 9, 2026, to evidence compliance. If the plan is not accepted, the Company will have the right to appeal and the common stock would remain listed on The Nasdaq Global Market until the completion of the appeal process. To regain compliance, the Company must have stockholders’ equity of at least $10,000,000.

The Company is currently evaluating various alternative courses of action to regain compliance. There can be no assurance that the Company will be able to regain compliance with the minimum stockholders’ equity requirement or maintain compliance with the other listing requirements.





SIGNATURES
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
                        SKYE BIOSCIENCE, INC.
  
  
Dated: May 15, 2026
/s/  Punit Dhillon
 
Name: Punit Dhillon
 
Title: Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What Nasdaq notice did Skye Bioscience (SKYE) receive?

Skye Bioscience received a written notice from Nasdaq stating it is not in compliance with the Nasdaq Global Market stockholders’ equity requirement, because reported equity was below the $10,000,000 minimum threshold required under Listing Rule 5450(b)(1)(A).

Why is Skye Bioscience (SKYE) out of compliance with Nasdaq rules?

Skye is out of compliance because its stockholders’ equity was $9,011,804 in its Form 10-Q for the quarter ended March 31, 2026, below Nasdaq Global Market’s required minimum stockholders’ equity of $10,000,000 under Listing Rule 5450(b)(1)(A).

Does the Nasdaq notice immediately affect trading in Skye Bioscience (SKYE) stock?

The notice has no immediate effect on trading. Skye’s common stock will continue to trade on the Nasdaq Global Market under the symbol SKYE while the company pursues a compliance plan and any potential extension or appeal process.

How long does Skye Bioscience (SKYE) have to regain Nasdaq compliance?

Skye has 45 calendar days, until June 29, 2026, to submit a specific plan to regain compliance. If Nasdaq accepts the plan, it may grant up to 180 days from the notice date, until November 9, 2026, to demonstrate compliance.

What must Skye Bioscience (SKYE) do to regain Nasdaq Global Market compliance?

To regain compliance, Skye must increase stockholders’ equity to at least $10,000,000, satisfying Nasdaq Global Market’s Listing Rule 5450(b)(1)(A). The company is evaluating alternative courses of action but offers no assurance it will successfully restore compliance.

Could Skye Bioscience (SKYE) be delisted from Nasdaq?

Delisting is possible if Skye fails to regain compliance. If its remediation plan is rejected, Skye can appeal, and the stock remains listed during the appeal. Continued non-compliance after any extensions and appeals could lead to removal from the Nasdaq Global Market.

Filing Exhibits & Attachments

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