Skye Bioscience announced the resignation of John P. Sharp as Chief Financial Officer and principal financial accounting officer effective September 8, 2026, citing no disagreements with auditors or management. The Board appointed President and CEO Punit Dhillon to serve concurrently as principal financial accounting officer starting that same date, with his existing compensation terms remaining unchanged. Additionally, the Company received notification from Nasdaq confirming it regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, closing the matter regarding its common stock's trading status. Skye Bioscience operates in the biotechnology industry, focusing on the development of novel therapeutics.

Skye Bioscience entered into a Securities Purchase Agreement with Redmile Biopharma Investments III, L.P. to establish an Equity Line of Credit (ELOC) with an aggregate purchase price of up to $22,000,000. The ELOC amount is reduced by any PIPE proceeds exceeding $103,000,000 and is fully cancelled if PIPE proceeds reach $125,000,000. Purchases occur monthly at a price equal to the lesser of the PIPE Price or Market Price, capped at $2,000,000 per month, with a floor of 90% of the PIPE Price. The Company also issued a warrant exercisable for shares valued at $5,000,000 divided by the PIPE Price, exercisable from January 1, 2027, to January 1, 2030. Skye Bioscience operates in the biotechnology industry.

Skye Bioscience, Inc. filed an amendment to announce the effective date of a reverse stock split in connection with its proposed acquisition of Redx Pharma Limited. The Certificate of Amendment will become effective at 12:01 am New York time on Thursday, August 24, 2026. Following this date, Skye's common stock will begin trading on The Nasdaq Stock Market LLC on a split-adjusted basis under the existing ticker symbol "SKYE," with a new CUSIP number of 83086J309. This corporate action is intended to help the company regain compliance with Nasdaq’s minimum bid price requirement as part of the broader transaction strategy.

Skye Bioscience, Inc. received a notice from Nasdaq on August 18, 2026, indicating non-compliance with Listing Rule 5550(b)(1) due to negative stockholders' equity of ($497,307) as reported in its June 30, 2021, quarterly filing. The company has until October 2, 2026, to submit a compliance plan and may receive an extension until February 14, 2027. Skye is currently evaluating alternatives to regain the required $2,500,000 minimum equity standard. Concurrently, the filing serves as soliciting material for a proposed acquisition of Redx Pharma Limited, with a definitive proxy statement expected to be filed for shareholder approval. The company operates in the biotechnology industry, focusing on drug discovery and development.

Skye Bioscience entered into a definitive agreement to acquire UK-based clinical-stage biotechnology company Redx Pharma via a scheme of arrangement. The transaction values Redx at $125 million and Skye at $14.5 million, resulting in pre-Transaction Redx shareholders owning approximately 46.17% of the combined entity, which will operate as Fibrx Therapeutics. Concurrent financings include a $36 million Series A financing by Redx and a $67.9 million private placement (PIPE) by Skye, totaling approximately $125 million in gross proceeds to fund operations through 2029. Lisa Anson will serve as CEO of the combined company, while Skye's current executive team is expected to tender resignations. To regain Nasdaq listing compliance, Skye also announced a 1-for-8 reverse stock split effective August 24, 2026.

Skye Bioscience, Inc. received approval from Nasdaq to transfer its common stock listing from the Nasdaq Global Market to the Nasdaq Capital Market effective June 23, 2026, due to failing to meet the $10,000,000 minimum stockholders' equity requirement. The company's initial 180-day compliance period to resolve a separate minimum bid price deficiency (requiring a close above $1.00 per share) will continue through September 14, 2026, following the transfer. Skye Bioscience, Inc. is a biotechnology company focused on metabolic and metabolic-related diseases.