Skye Bioscience Receives Nasdaq Delisting Notice

Skye Bioscience Inc. (SKYE) told the Securities and Exchange Commission on May 15 2026 that it had received a notice from Nasdaq regarding its failure to meet a listing requirement.

The company disclosed the notice in a Form 8-K under Item 3.01. Per the filing the notice identifies the specific exchange rule violated and sets out the applicable cure period during which Skye Bioscience can submit a plan or take corrective action to regain compliance.

The disclosure affects Skye Bioscience a clinical-stage biotechnology company whose common stock trades under the ticker SKYE on Nasdaq. The filing does not quantify the precise dollar impact or number of shareholders affected but states that continued listing on Nasdaq is the company's current status.

Operationally the company moves from presumed compliance to formal notice status. Prior to the notice the shares traded on Nasdaq without a delisting flag. The new state requires Skye Bioscience to address the deficiency within the cure timeline specified by Nasdaq rules typically 180 calendar days for certain deficiencies though the exact period is defined in the notice itself.

If the company fails to cure the deficiency within the allowed time Nasdaq will issue a delisting determination and the shares will no longer trade on the exchange.

Downstream the filing triggers several mechanical requirements. Skye Bioscience must evaluate the cited rule violation and either regain compliance or appeal any subsequent delisting decision through the Nasdaq Hearings Panel. A delisting would require the company to seek quotation on an over-the-counter market or pursue an uplisting application on another national exchange.

The company must also consider the impact on contractual obligations such as debt covenants or equity incentive plans that reference Nasdaq listing status. Separate SEC filings will be required if the company receives further notices appeal a determination or announces a compliance plan.

This 8-K represents the first public disclosure by Skye Bioscience of a Nasdaq listing deficiency in the current reporting cycle. The SEC requires registrants to report such notices on Form 8-K within four business days of receipt under Item 3.01.