Skye Bioscience Inc (SKYE)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$1.54-4.94%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Skye Bioscience Inc’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	0
EPS	—	-1.058
Annual ending 2026-12-31
Revenue	—	0
EPS	—	-5.92
Annual ending 2027-12-31
Revenue	—	0
EPS	—	-6.747

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain capital to fund operations through late 2026	The company manages capital to fund operations through late 2026 despite net losses of $9.7M to $18M per quarter.	Intact	Capital runs out before Q4 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated in 3 of last 3 quarters. Management consistently expects current capital to fund operations and key clinical milestones through Q4 2026 and into 2027. Financials show ongoing operating losses and negative cash from operations, underscoring the importance of capital discipline. The trajectory is consistent with management's stated funding horizon. Delivery assessment Oct 24, 2026
Advance nimacimab clinical development and achieve key milestones	Skye Bioscience advances nimacimab through clinical trials with key milestones expected by Q4 2026.	Improving	Failure to achieve key clinical milestones by Q4 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Leverage Halozyme partnership for drug delivery development	Strategic partnership with Halozyme supports drug delivery development.	Intact	Failure to advance drug delivery development via partnership by end 2027	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

$-1.13 → Unavailable · observed estimates

FY2027 revenueUnavailable

$0.00B → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-1.13	$0	6 / 7
2026-07-25	$-1.13	$0	6 / 7
2026-07-26	$-1.13	$0	6 / 7
2026-07-27	$-1.18	Unavailable	5 / 0
2026-07-28	$-1.13	$0	6 / 7
2026-07-29	$-1.13	$0	6 / 7
2026-07-30	$-1.13	$0	6 / 7
2026-07-31	$-1.13	$0	6 / 7
2026-08-01	$-1.18	Unavailable	5 / 0
2026-08-02	$-1.13	$0	6 / 7
2026-08-03	$-1.18	Unavailable	5 / 0
2026-08-04	$-1.18	Unavailable	5 / 0
2026-08-05	$-1.18	Unavailable	5 / 0
2026-08-06	$-1.13	$0	6 / 7
2026-08-08	$-1.13	$0	6 / 7
2026-08-09	$-1.13	$0	6 / 7
2026-08-10	$-1.13	$0	6 / 7
2026-08-12	$-1.18	Unavailable	5 / 0
2026-08-13	$-1.18	Unavailable	5 / 0
2026-08-14	$-1.18	Unavailable	5 / 0
2026-08-15	$-1.18	Unavailable	5 / 0
2026-08-16	$-1.18	Unavailable	5 / 0
2026-08-17	$-1.18	Unavailable	5 / 0
2026-08-18	$-1.18	Unavailable	5 / 0
2026-08-19	$-1.18	Unavailable	5 / 0
2026-08-20	Unavailable	Unavailable	4 / 0
2026-08-21	Unavailable	Unavailable	4 / 0
2026-08-22	Unavailable	Unavailable	4 / 0
2026-08-23	Unavailable	Unavailable	4 / 0
2026-08-24	Unavailable	Unavailable	4 / 0
2026-08-25	Unavailable	Unavailable	4 / 0
2026-08-26	Unavailable	Unavailable	4 / 0
2026-08-27	Unavailable	Unavailable	4 / 0
2026-08-28	Unavailable	Unavailable	4 / 0
2026-08-29	Unavailable	Unavailable	4 / 0
2026-08-30	Unavailable	Unavailable	4 / 0
2026-08-31	Unavailable	Unavailable	4 / 0
2026-09-01	Unavailable	Unavailable	4 / 0
2026-09-02	Unavailable	Unavailable	4 / 0
2026-09-03	Unavailable	Unavailable	4 / 0
2026-09-04	Unavailable	Unavailable	4 / 0
2026-09-05	Unavailable	Unavailable	4 / 0
2026-09-06	Unavailable	Unavailable	4 / 0
2026-09-07	Unavailable	Unavailable	4 / 0
2026-09-08	Unavailable	Unavailable	4 / 0
2026-09-09	Unavailable	Unavailable	4 / 0
2026-09-10	Unavailable	Unavailable	4 / 0
2026-09-11	Unavailable	Unavailable	4 / 0
2026-09-12	Unavailable	Unavailable	4 / 0
2026-09-13	Unavailable	Unavailable	3 / 0
2026-09-14	Unavailable	Unavailable	3 / 0
2026-09-15	Unavailable	Unavailable	3 / 0
2026-09-16	Unavailable	Unavailable	3 / 0
2026-09-17	Unavailable	Unavailable	3 / 0
2026-09-18	Unavailable	Unavailable	3 / 0
2026-09-19	Unavailable	Unavailable	3 / 0
2026-09-20	Unavailable	Unavailable	3 / 0
2026-09-21	Unavailable	Unavailable	3 / 0
2026-09-22	Unavailable	Unavailable	3 / 0
2026-09-23	Unavailable	Unavailable	3 / 0
2026-09-24	Unavailable	Unavailable	3 / 0
2026-09-25	Unavailable	Unavailable	3 / 0
2026-09-26	Unavailable	Unavailable	3 / 0
2026-09-27	Unavailable	Unavailable	3 / 0
2026-09-28	Unavailable	Unavailable	3 / 0
2026-09-29	Unavailable	Unavailable	3 / 0
2026-09-30	Unavailable	Unavailable	3 / 0
2026-10-01	Unavailable	Unavailable	3 / 0
2026-10-02	Unavailable	Unavailable	3 / 0
2026-10-03	Unavailable	Unavailable	3 / 0
2026-10-04	Unavailable	Unavailable	3 / 0
2026-10-05	Unavailable	Unavailable	3 / 0
2026-10-06	Unavailable	Unavailable	3 / 0
2026-10-07	Unavailable	Unavailable	3 / 0
2026-10-08	Unavailable	Unavailable	3 / 0
2026-10-09	Unavailable	Unavailable	3 / 0
2026-10-10	Unavailable	Unavailable	3 / 0
2026-10-11	Unavailable	Unavailable	3 / 0
2026-10-12	Unavailable	Unavailable	3 / 0
2026-10-13	Unavailable	Unavailable	3 / 0
2026-10-14	Unavailable	Unavailable	3 / 0
2026-10-15	Unavailable	Unavailable	3 / 0
2026-10-16	Unavailable	Unavailable	3 / 0
2026-10-17	Unavailable	Unavailable	3 / 0
2026-10-18	Unavailable	Unavailable	3 / 0
2026-10-19	Unavailable	Unavailable	3 / 0
2026-10-20	Unavailable	Unavailable	3 / 0
2026-10-21	Unavailable	Unavailable	3 / 0
2026-10-22	Unavailable	Unavailable	3 / 0
2026-10-23	Unavailable	Unavailable	3 / 0
2026-10-24	Unavailable	Unavailable	3 / 0

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	6	2
2026-06-01	6	2
2026-07-01	6	2
2026-08-01	5	2
2026-09-01	3	2
2026-10-01	2	2

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 2 Buy / Strong Buy · 2 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain capital to fund operations through late 2026Direct metric needs a verified mapping
Advance nimacimab clinical development and achieve key milestonesDirect metric needs a verified mapping
Leverage Halozyme partnership for drug delivery developmentDirect metric needs a verified mapping

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.9%Typical daily move · historical

Downside history

-88.1%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Skye Bioscience Inc outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a speculative growth story, not an established earnings compounder. The thesis is in a watch state: the company is loss-making, management has been volatile, and confidence in the evidence is low.

What's priced into Skye Bioscience Inc

The snapshot provides no valuation or market-expectations data, so it is not possible to judge whether SKYE looks cheap, fair, or expensive versus peers. Recent price reaction to the new developments has been muted, but that alone does not show what expectations are already reflected.

What the fundamentals likely do

Near term, results remain difficult to assess because SKYE is loss-making and has negative cash from operations; the evidence also flags elevated risk of an earnings miss. Management expects available capital to fund operations and key clinical milestones through Q4 2026 and into 2027, while the announced Redx Pharma transaction is expected to close in Q4 2026 with about $125 million in financing for the combined company.

What Skye Bioscience Inc hinges on

The multi-year thesis hinges on completing and integrating the Redx Pharma acquisition, maintaining funding discipline, and advancing RXC008 into its planned Phase 2 study, with topline data expected in H2 2028. Near term, a guidance cut or further weakening in the jobs data would add risk; continued strength among Healthcare bellwethers could support the sector backdrop.