Skye Bioscience (NASDAQ:SKYE) Issues Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Skye Bioscience (NASDAQ:SKYE) announced its quarterly earnings results on Tuesday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07), FiscalAI reports.

Here are the key takeaways from Skye Bioscience’s conference call:

• Nimacimab showed an additive effect with GLP-1 therapy—about a +3% incremental weight loss at 26 weeks versus semaglutide alone and a 22.3% mean weight loss at 52 weeks for the combination—with placebo-like tolerability and no nimacimab-associated neuropsychiatric signal reported.
• Management concluded the 200 mg weekly dose underexposed peripheral tissues and modeled that ~600 mg exposure is needed for full peripheral CB1 engagement while maintaining minimal CNS exposure, and launched a Part C expansion with randomized IV cohorts (400 mg and 600 mg weekly, 3:1 randomization, 16 weeks) to rapidly generate higher‑dose PK and safety data to inform Phase 2b.
• Skye formed a collaboration with Halozyme to enable high‑volume subcutaneous delivery via ENHANZE and is advancing a high‑concentration formulation (up to 200 mg/mL) and autoinjector planning, de‑risking a practical SC path for the higher doses needed in Phase 2b/Phase 3.
• Early preclinical data on an antibody‑peptide conjugate (APC) show the unimolecular APC dosed every three days matched daily combination efficacy in animal studies, providing a promising platform-level optionality but remaining at a preclinical stage with clinical relevance yet to be proven.
• Financial runway is limited—Skye ended 2025 with $25.7 million in cash and short‑term investments and is managing operations to extend runway through Q4 2026, implying likely need for additional financing to complete later‑stage development.

Skye Bioscience Price Performance

NASDAQ:SKYE opened at $0.72 on Thursday. The firm has a market capitalization of $23.12 million, a P/E ratio of -0.52 and a beta of 2.86. Skye Bioscience has a 12-month low of $0.61 and a 12-month high of $5.75. The business has a 50 day simple moving average of $0.86 and a 200 day simple moving average of $1.69.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Skye Bioscience in a report on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of Skye Bioscience in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYE. Marshall Wace LLP bought a new stake in shares of Skye Bioscience during the second quarter valued at approximately $436,000. XTX Topco Ltd bought a new stake in Skye Bioscience during the 4th quarter valued at $40,000. Qube Research & Technologies Ltd acquired a new position in Skye Bioscience during the 2nd quarter worth $218,000. Vanguard Group Inc. grew its stake in shares of Skye Bioscience by 5.3% in the third quarter. Vanguard Group Inc. now owns 882,785 shares of the company’s stock worth $3,469,000 after purchasing an additional 44,824 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC grew its stake in shares of Skye Bioscience by 143.1% in the second quarter. Capital Advisors Wealth Management LLC now owns 50,800 shares of the company’s stock worth $212,000 after purchasing an additional 29,900 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

About Skye Bioscience

Skye Bioscience, Inc is a clinical-stage biotechnology company focused on the development of novel, selective cannabinoid type 1 (CB1) receptor modulators for the treatment of ocular diseases. Headquartered in Sunnyvale, California, Skye Bioscience leverages proprietary chemistry and formulation expertise to design and optimize compounds with high potency, tissue selectivity and favorable drug-like properties. The company’s lead product candidate is being evaluated for the treatment of glaucoma and other ophthalmic conditions characterized by elevated intraocular pressure.

Skye Bioscience’s pipeline centers on synthetic cannabinoids engineered to avoid central nervous system side effects commonly associated with traditional cannabinoid therapies.