Key Highlights

  • 10.1 million is the USD in cash and short-term investments held by Skye Bioscience, Inc. (NASDAQ:SKYE) at June 30, 2026, down from USD 25.7 million at December 31, 2025, a fall of 60.7%, calculated.
  • 10.8 million is the USD net loss for the second quarter of 2026, or 0.27 per share, while Research and Development expense fell 73% to USD 3.9 million after nimacimab clinical activities ended.
  • 59.74% is the share of the combined company that Redx equityholders would hold at the assumed exchange ratio, with pre-transaction Skye holders at about 5.38% and financing investors at about 34.88%.
  • 35,421,413 is the number of common shares outstanding as of August 11, 2026, ahead of a planned reverse split tied to the Redx transaction and a renaming to Fibrx Therapeutics.

What Investors Expect From Skye Bioscience (NASDAQ:SKYE) on November 16, 2026

Skye Bioscience, Inc. is scheduled to report third quarter 2026 results on November 16, 2026, covering the quarter ended September 30, 2026. The company ended its nimacimab clinical work, paused research and development, engaged Stifel as Financial Advisor for strategic alternatives and, on August 14, 2026, signed a transaction agreement to acquire Redx Pharma Limited through a UK scheme of arrangement. In the second quarter it reported a net loss of USD 10,786,594, or 0.27 per share, and a six-month net loss of USD 23.3 million.

The Rationale: Last Reported Quarter and Management Outlook for Skye Bioscience (NASDAQ:SKYE)

The operating loss was USD 11.1 million in the second quarter and USD 23.7 million for six months. Research and development expense was USD 3.9 million, down 73% year over year, and USD 11.9 million for six months, down 45%. Management expects significant losses and negative cash flows through 2026, with research and development and general and administrative expenses declining further until the Redx transaction closes. The company has not issued numeric Earnings guidance. Closing is expected in the fourth quarter of 2026, and the combined company would trade on Nasdaq under the symbol FBRX, subject to listing approval, Shareholder approval and a reverse split.

Valuation, Liquidity and Risks for Skye Bioscience (NASDAQ:SKYE)

At June 30, 2026 cash and cash equivalents were USD 8,068,357 and short-term investments were USD 1,995,784, totaling USD 10,064,141. The company had a Working Capital Deficit of USD 572,215, a stockholders' deficit of USD 497,307 and an accumulated deficit of USD 210.2 million. The filing states substantial doubt about its ability to continue as a going concern, with operations beyond the fourth quarter of 2026 dependent on closing the Redx transaction or raising capital. Nasdaq approved a transfer to its Capital Market effective June 23, 2026. An Equity line of up to USD 22.0 million supports the transaction financing. Risks include dilution, deal delay or termination and listing compliance.

Where Things Stand

Skye Bioscience, Inc. (NASDAQ:SKYE) reports on November 16, 2026 with USD 10.1 million of cash and short-term investments at June 30, 2026, after a USD 15.6 million decline since December 31, 2025, calculated. The second quarter net loss was USD 10.8 million. The Redx transaction, signed on August 14, 2026, would leave pre-deal Skye holders with about 5.38% of the combined company at the assumed ratio and is expected to close in the fourth quarter of 2026. Investors will watch cash, deal timing, and shareholder approval. This article is informational and is not Investment advice.