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what it is
Skye Bioscience develops antibody drugs for obesity and related metabolic disease.
how it gets paid
Last year Skye had no product revenue (n/a / $0). The revenue bridge uses equal-width placeholders—do not read “25% of sales” when sales are zero.
what just happened
Skye posted -$1.05 EPS in the latest quarter while revenue stayed at $0M.
At a glance
C++ balance sheet — some cracks in the foundation
15/100 earnings predictability — expect surprises
-$0.73 fy2024 eps est
0.75 beta
~$22M market cap
xvary composite: 40/100 — below average
What they do
Skye Bioscience develops antibody drugs for obesity and related metabolic disease.
Skye has 16 employees, so the burn is small and the pipeline is tiny. That is the trade. You get one lead shot, nimacimab, and very little room for error. In September 2025, Skye said two mouse studies beat monlunabant and improved on tirzepatide in preclinical work. Peripherally restricted means it stays outside the brain. So what: the bet is cleaner than a broad biotech platform, but your fate is tied to one program.
How they make money
n/a
annual revenue
nimacimab program
$0M
cb1 inhibitor research
$0M
tirzepatide combination studies
$0M
corporate and other
$0M
The products that matter
Phase 2 obesity drug candidate
nimacimab
Q4 2026 top-line data
It is the only clinical asset shown in this snapshot, and the Phase 2b readout expected in Q4 2026 matters more than any quarterly EPS print. If you want the whole stock in one line, this is it.
one-asset company
Key numbers
-$0.73
fy2024 eps est
n/a
fy rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $0M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for SKYE right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Skye posted -$1.05 EPS in the latest quarter while revenue stayed at $0M.
The company is still pre-revenue, so the real story is cash and trial data. It ended 2025 with $25.7M in cash and said runway lasts through Q4 2026.
$0M
revenue
-$1.05
eps
n/a
gross margin
cash runway
The $25.7M cash balance matters most because it buys time. In a pre-revenue biotech, time is the product.
source: company earnings report and SEC filing, 2026
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What could go wrong
this is not a diversified biotech risk list. it is one clinical program, one runway claim, and several ways the clock gets shorter before the data gets better.
med
binary clinical failure
Nimacimab already missed its Phase 2a monotherapy endpoint. If Phase 2b does not produce a stronger efficacy signal, there is no second business line waiting behind it.
This hits 100% of the current equity story.
med
cash runway slippage
Cash stood at $25.7M at the end of 2025, while 2025 R&D spend was $42.4M. Management says that is enough into Q4 2026. If timelines stretch or spend rises, dilution moves from background risk to main event.
A delay or cost jump could force financing before the readout.
med
single-asset concentration
There is no internal hedge here. One clinical program carries the valuation, the financing story, and the reason most investors are even looking at the ticker.
One setback can damage both the science case and the balance-sheet case at the same time.
med
execution noise around a small team
The CFO departure and class action process arrive while the company is trying to execute a make-or-break clinical plan. Small teams do not get much spare bandwidth.
Even if the science holds, execution noise can weaken financing terms and investor trust.
$25.7M of cash sounds comforting until you line it up against a $42.4M annual R&D spend and one Phase 2b readout that has to work.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
Q4 2026 Phase 2b data
This is the event that matters. If the readout improves on the earlier Phase 2a miss, the stock gets another chance. If not, the market cap has very little else to defend it.
cash
runway versus burn
$25.7M of cash against $42.4M of 2025 R&D spend is the core math. Watch every update for signs the runway no longer cleanly reaches the catalyst.
risk
financing or legal overhang
A financing announcement, a trial delay, or legal distraction would all matter more than a routine quarterly filing. Here is the thing: this company has very few buffers.
trend
where the stock sits in the range
At $1.08, the stock is near the bottom of its $1–$6 52-week range. That tells you the market is pricing skepticism first and optionality second.
Analyst rankings
earnings predictability
15 / 100
Quarterly numbers are hard to model because there is no operating business to smooth them out. in human-speak, analysts cannot forecast this like a normal company because the science is the model.
beta
0.75
Beta measures how much a stock tends to move with the market. Here it says SKYE has been less tied to index swings, but one clinical headline can overpower that statistic in a day.
source: institutional data
Institutional activity
institutional ownership data for SKYE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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