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Skye Bioscience (NASDAQ: SKYE) shifts to Nasdaq Capital Market amid listing notices

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

Rhea-AI Filing Summary

Skye Bioscience, Inc. is moving its common stock listing from the Nasdaq Global Market to the Nasdaq Capital Market after falling out of compliance with the Global Market’s $10,000,000 minimum stockholders’ equity requirement. The company reported stockholders’ equity of $9,011,804 as of March 31, 2026.

Nasdaq approved the transfer effective with the open of business on June 23, 2026, and the trading symbol “SKYE” will remain unchanged. Separately, Skye previously received notice that its shares traded below the $1.00 minimum bid price for 30 consecutive business days, triggering a 180-day compliance period ending September 14, 2026. The company plans to monitor its share price and consider options to regain compliance but notes there is no assurance it will succeed.

Positive

  • None.

Negative

  • Listing downgrade and compliance risk: Skye failed the Nasdaq Global Market $10,000,000 stockholders’ equity standard, moved down to the Nasdaq Capital Market, and remains under a $1.00 minimum bid-price notice with a defined compliance deadline.

Insights

Skye keeps a Nasdaq listing but faces equity and bid-price compliance pressure.

Skye Bioscience secured approval to move from the Nasdaq Global Market to the Nasdaq Capital Market after reporting stockholders’ equity of $9,011,804, below the Global Market’s $10,000,000 minimum. The Capital Market has a lower equity requirement of $3,000,000, which the company currently meets.

The filing also highlights an earlier notice that Skye’s shares closed below $1.00 for 30 consecutive business days, triggering a 180-day window, through September 14, 2026, to regain compliance with the Minimum Bid Price Requirement. This requirement continues to apply after the market-tier transfer.

Investors may focus on whether Skye can restore its bid price above $1.00 during the Initial Compliance Period and maintain sufficient stockholders’ equity under Capital Market rules. Future company actions to address these listing standards will shape its ongoing access to Nasdaq.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Stockholders’ equity $9,011,804 As of quarter ended March 31, 2026
Global Market equity requirement $10,000,000 Nasdaq Listing Rule 5450(b)(1)(A) minimum stockholders’ equity
Capital Market equity requirement $3,000,000 Nasdaq Capital Market minimum stockholders’ equity standard
Minimum bid price $1.00 per share Nasdaq Listing Rule 5450(a)(1) Minimum Bid Price Requirement
Low bid-price period 30 consecutive business days Days SKYE closed below $1.00 before notice
Compliance window length 180 calendar days Initial Compliance Period to regain $1.00 bid price
Compliance deadline September 14, 2026 End of Initial Compliance Period for Minimum Bid Price
Transfer effective date June 23, 2026 Date listing moves to Nasdaq Capital Market
Nasdaq Global Market financial
"the Company was not in compliance with the Nasdaq Global Market’s Listing Rule 5450(b)(1)(A)"
The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.
Nasdaq Capital Market financial
"approval from the Staff to transfer the listing of the Company’s common stock ... to the Nasdaq Capital Market"
The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.
Listing Rule 5450(b)(1)(A) regulatory
"not in compliance with the Nasdaq Global Market’s Listing Rule 5450(b)(1)(A), which requires a $10,000,000 minimum stockholders’ equity standard"
Minimum Bid Price Requirement regulatory
"below the minimum $1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1) ... (the “Minimum Bid Price Requirement”)"
A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.
Initial Compliance Period regulatory
"The Company was provided an initial period of 180 calendar days, or until September 14, 2026, to regain compliance ... (the “Initial Compliance Period”)."
Listing Qualifications Department financial
"received a written notification from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC"
A listing qualifications department is the part of a stock exchange that checks whether a company meets the exchange’s rules for being listed and staying listed. Think of it as a gatekeeper or building inspector: it reviews financial statements, disclosure practices and corporate governance, flags problems and can require fixes or remove a company’s shares. Investors care because its decisions affect whether a stock remains tradable and how much trust to place in a company’s reporting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

Why is Skye Bioscience (SKYE) transferring to the Nasdaq Capital Market?
Skye Bioscience is transferring because its stockholders’ equity was $9,011,804, below the Nasdaq Global Market’s $10,000,000 minimum. The Nasdaq Capital Market has a lower $3,000,000 equity standard, which Skye currently meets, allowing it to retain a Nasdaq listing.

When will Skye Bioscience’s listing transfer to the Nasdaq Capital Market take effect?
The transfer becomes effective with the open of business on June 23, 2026. From that date, Skye’s common stock will trade on the Nasdaq Capital Market instead of the Nasdaq Global Market, while continuing to use the existing trading symbol “SKYE.”

Does the Skye Bioscience (SKYE) ticker symbol change after the Nasdaq market transfer?
No, the ticker symbol “SKYE” remains the same after the transfer. Only the listing tier changes, from the Nasdaq Global Market to the Nasdaq Capital Market, which has different quantitative listing standards, including a lower minimum stockholders’ equity requirement.

What is Skye Bioscience’s minimum bid price compliance issue with Nasdaq?
Skye received notice that its shares closed below $1.00 for 30 consecutive business days, violating Nasdaq’s Minimum Bid Price Requirement. The company has a 180-day period, until September 14, 2026, to regain compliance while its stock trades on the Nasdaq Capital Market.

How long does Skye Bioscience have to regain compliance with Nasdaq’s $1.00 minimum bid price?
Skye has an Initial Compliance Period of 180 calendar days, ending on September 14, 2026, to restore its closing bid price to at least $1.00 per share. The filing notes there is no assurance the company will regain compliance by that date.

Does Skye Bioscience remain subject to Nasdaq’s Minimum Bid Price Requirement after moving to the Capital Market?
Yes. The Minimum Bid Price Requirement also applies to the Nasdaq Capital Market. Skye’s existing 180-day Initial Compliance Period, through September 14, 2026, continues unchanged after the transfer, and the company states it will monitor its closing bid price and consider options.
FALSE00015165516/18/202600015165512026-03-102026-03-10

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): June 18, 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 8.01 Other Events.

As previously disclosed on a Current Report on Form 8-K filed by Skye Bioscience, Inc. (the “Company”) on May 13, 2026, the Company received a written notification from the Listing Qualifications Department (the “Staff”) 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 the Nasdaq Global Market’s Listing Rule 5450(b)(1)(A), which requires a $10,000,000 minimum stockholders’ equity standard.

On June 18, 2026, the Company received approval from the Staff to transfer the listing of the Company’s common stock, par value $0.001 per share (the “Common Stock”), from the Nasdaq Global Market to the Nasdaq Capital Market, which requires a $3,000,000 minimum stockholders’ equity standard, effective with the open of business on June 23, 2026. The existing ticker symbol for the Common Stock, “SKYE,” will not be affected by such exchange tier transfer.

In addition, as previously disclosed on a Current Report on Form 8-K filed by the Company on March 19, 2026, on March 17, 2026, the Company received a written notice from the Staff notifying the Company that, for the 30 consecutive business days preceding the receipt of the notice, the bid price for the Common Stock had closed below the minimum $1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market (the “Minimum Bid Price Requirement”). The Company was provided an initial period of 180 calendar days, or until September 14, 2026, to regain compliance with the Minimum Bid Price Requirement (the “Initial Compliance Period”). The Minimum Bid Price Requirement is also applicable to continued listing on the Nasdaq Capital Market, and the Initial Compliance Period will continue to apply to the Company following the transfer to the Nasdaq Capital Market.

The Company intends to actively monitor the closing bid price for the Common Stock and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement by the expiration of the Initial Compliance Period or will otherwise be in compliance with other Nasdaq Listing Rules.





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: June 22, 2026
/s/  Punit Dhillon
 
Name: Punit Dhillon
 
Title: Chief Executive Officer

Source: View Original Filing on SEC EDGAR

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