Nasdaq warns Skye Bioscience (SKYE) after shares stay under $1 minimum

Rhea-AI Filing Summary

Skye Bioscience, Inc. received a Nasdaq deficiency letter on March 17, 2026 because its common stock’s closing bid price has stayed below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5450(a)(1) for The Nasdaq Global Market.

The stock continues trading under the “SKYE” symbol, and Skye has 180 calendar days, until September 14, 2026, to regain compliance, including the option to complete any reverse stock split at least ten business days before that date. If the bid price closes at or above $1.00 for at least 10 consecutive business days before that deadline, Nasdaq staff will confirm compliance. Skye may qualify for a second 180-day period on The Nasdaq Capital Market if it meets other listing standards and commits to curing the deficiency, but there is no assurance it will regain or maintain compliance.

Insights

Equity markets and listing standards analyst

Nasdaq bid-price deficiency raises delisting risk if Skye cannot regain compliance.

Skye Bioscience has been notified that its shares have traded below the $1.00 minimum bid price for 30 straight business days, triggering a deficiency under Nasdaq Rule 5450(a)(1). The stock remains on The Nasdaq Global Market for now, but the notice flags non-compliance with a key listing standard.

The company has 180 days, until September 14, 2026, to lift its closing bid price to at least $1.00 for 10 consecutive business days. It may use corporate actions such as a reverse stock split, which must be completed at least ten business days before the deadline, to meet this requirement.

If it fails to regain compliance, Skye might still secure a second 180-day grace period on The Nasdaq Capital Market by satisfying other initial listing standards and formally committing to cure the bid-price issue. Future disclosures about any reverse split plans or Nasdaq determinations will shape how long SKYE remains listed on a Nasdaq market.

FALSE00015165513/17/202600015165512026-03-102026-03-10

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): March 17, 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 March 17, 2026, Skye Bioscience, Inc. (the “Company” or “Skye”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock, par value $0.001 per share (the “Common Stock”) had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (“Rule 5450(a)(1)”). The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s Common Stock, and the Common Stock will continue to trade on The Nasdaq Global Market under the symbol “SKYE” at this time.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until September 14, 2026, to regain compliance with Rule 5450(a)(1). If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to September 14, 2026, to regain compliance. If at any time before September 14, 2026, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has regained compliance.

If the Company does not regain compliance with Rule 5450(a)(1) by September 14, 2026, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period.

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 Rule 5450(a)(1). However, there can be no assurance that the Company will be able to regain compliance with the Rule 5450(a)(1) 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: March 19, 2026			/s/  Punit Dhillon
			Name: Punit Dhillon
			Title: Chief Executive Officer

FAQ

What Nasdaq issue did Skye Bioscience (SKYE) disclose in this report?

Skye Bioscience disclosed it received a Nasdaq deficiency letter because its common stock’s closing bid price stayed below $1.00 for 30 consecutive business days. This violates Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market and begins a formal compliance period.

Does Skye Bioscience’s Nasdaq notice mean SKYE is being delisted now?

No, the notice does not trigger immediate delisting. Skye’s common stock continues to trade on The Nasdaq Global Market under the symbol SKYE while the company works through a 180‑day compliance period to restore its bid price to at least $1.00 per share.

How long does Skye Bioscience have to regain Nasdaq bid-price compliance?

Skye Bioscience has 180 calendar days, until September 14, 2026, to regain compliance with Nasdaq’s $1.00 minimum bid rule. Achieving a closing bid of at least $1.00 for 10 consecutive business days within this window would prompt Nasdaq staff to confirm compliance.

Can Skye Bioscience use a reverse stock split to address the Nasdaq deficiency?

Yes, the company may implement a reverse stock split to help lift its share price. Any reverse split used to regain compliance must be completed at least ten business days before September 14, 2026, so the resulting higher bid price can be observed over the required period.

What happens if Skye Bioscience does not regain compliance by September 14, 2026?

If Skye does not regain compliance by September 14, 2026, it may receive an additional 180‑day period on The Nasdaq Capital Market. To qualify, it must meet other initial listing standards and notify Nasdaq of its intent to cure the bid‑price deficiency.

Is Skye Bioscience confident it will regain Nasdaq compliance?

Skye Bioscience stated it intends to actively monitor its closing bid price and consider available options to resolve the deficiency. However, it also cautioned there can be no assurance it will regain compliance with Nasdaq’s minimum bid rule or other listing standards.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 19.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 11.3 KB