Skye Bioscience, Inc.
SKYEHealthcare|Biotechnology|US
$0.99
-0.05 (-4.78%)
DCF Value
$0.79
Cash / Share
$2.03
Financials
Financial Snapshot
Market Cap
$4.4M
Enterprise Value
-$3.6M
Revenue (TTM)
$0.00
Net Income (TTM)
-$50.5M
Cash & Investments
$10.1M
Net Cash
$10.0M
Free Cash Flow (TTM)
-$38.8M
Operating CF (TTM)
-$38.8M
Debt/Equity
-0.07
Cash Runway & Burn Rate
Cash on Hand
$10.1M
Quarterly Burn
$9.7M
Monthly Burn
$3.2M
Est. Runway
~1.0 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $64.8K | $260.0K | $1.9M | $1.8M | $2.5M | $9.0M | $1.2M | $1.3M | $68.4M | $25.7M | $10.1M | |
| Operating Cash Flow | -$3.6M | -$3.3M | -$3.9M | -$6.0M | -$6.1M | -$6.5M | -$12.7M | -$14.0M | -$25.2M | -$43.1M | -$38.8M | |
| Free Cash Flow | -$3.6M | -$3.3M | -$3.9M | -$6.0M | -$6.1M | -$6.6M | -$12.8M | -$14.0M | -$26.8M | -$43.1M | -$38.8M | |
| Capital Expenditure | -$11.1K | -$19.7K | -$4.4K | $0.00 | -$7.2K | -$90.9K | -$28.1K | -$12.6K | -$1.6M | -$6.3K | -$11.00 | |
| Financing Cash Flow | $407.7K | $3.5M | $5.5M | $6.0M | $6.7M | $13.1M | -$208.8K | $16.4M | $83.6M | $29.6K | -$161.1K |
R&D Spending
R&D (TTM)
$32.5M
R&D Intensity
—
R&D Growth vs Prior
-23.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $939.0K | $311.3K | $330.0K | $2.2M | $1.9M | $2.9M | $6.0M | $5.8M | $18.7M | $42.4M | $32.5M | |
| SG&A | $3.5M | $3.5M | $4.4M | $4.4M | $4.3M | $4.9M | $6.1M | $7.9M | $17.7M | $15.8M | $15.9M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $14.9K | $8.0K | $1.5K | $1.5K | $1.9K | $0.00 | $0.00 | $0.00 | $0.00 | $723.4K | $172.9K | |
| Gross Profit | -$14.9K | -$8.0K | -$1.5K | -$1.5K | -$1.9K | $0.00 | $0.00 | $0.00 | $0.00 | -$723.4K | -$172.9K | |
| R&D | $939.0K | $311.3K | $330.0K | $2.2M | $1.9M | $2.9M | $6.0M | $5.8M | $18.7M | $42.4M | $32.5M | |
| SG&A | $3.5M | $3.5M | $4.4M | $4.4M | $4.3M | $4.9M | $6.1M | $7.9M | $17.7M | $15.8M | $15.9M | |
| Operating Income | -$4.5M | -$3.9M | -$4.7M | -$6.6M | -$6.3M | -$7.8M | -$18.3M | -$34.7M | -$30.2M | -$58.2M | -$51.9M | |
| Interest Expense | $0.00 | $667.00 | $94.8K | $1.0M | $706.4K | $767.5K | $663.8K | $906.3K | $967.6K | $0.00 | $5.5K | |
| Pretax Income | -$3.2M | -$3.1M | -$19.2M | $1.1M | -$6.6M | -$8.5M | -$19.5M | -$37.6M | -$26.6M | -$55.9M | -$50.5M | |
| Net Income | -$3.2M | -$3.1M | -$19.2M | $1.1M | -$6.6M | -$8.5M | -$19.5M | -$37.6M | -$26.6M | -$55.9M | -$50.5M | |
| EPS (Diluted) | -319.20 | -204.96 | -292.08 | 15.84 | -59.68 | -40.00 | -70.16 | -42.96 | -5.84 | -11.28 | -10.16 | |
| EBITDA | $0.00 | -$3.1M | -$4.7M | $2.0M | -$5.9M | -$7.7M | -$18.7M | -$36.6M | -$25.3M | -$55.2M | -$49.8M | |
| Shares Out. (M) | 0.01 | 0.02 | 0.07 | 0.07 | 0.12 | 0.20 | 0.28 | 0.88 | 4.56 | 4.96 | 4.96 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $64.8K | $260.0K | $1.9M | $1.8M | $2.5M | $9.0M | $1.2M | $1.3M | $68.4M | $5.9M | $8.1M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $19.9M | $2.0M | |
| Total Current Assets | $279.5K | $555.8K | $2.0M | $2.0M | $2.7M | $9.6M | $8.9M | $11.7M | $70.8M | $27.1M | $11.0M | |
| Total Assets | $323.4K | $557.2K | $2.0M | $2.0M | $2.7M | $9.9M | $9.1M | $11.9M | $72.8M | $28.3M | $11.0M | |
| Total Current Liabilities | $662.0K | $806.0K | $15.9M | $970.8K | $787.2K | $3.9M | $12.1M | $13.9M | $4.3M | $8.2M | $11.5M | |
| Long-Term Debt | $0.00 | $0.00 | $1.4M | $387.1K | $1.4M | $0.00 | $0.00 | $0.00 | $0.00 | $84.0K | $0.00 | |
| Total Liabilities | $1.8M | $1.4M | $17.5M | $1.4M | $2.2M | $4.0M | $12.1M | $14.1M | $4.6M | $8.3M | $11.5M | |
| Stockholders' Equity | -$1.5M | -$800.1K | -$15.6M | $548.1K | $450.8K | $5.9M | -$3.0M | -$2.1M | $68.2M | $20.0M | -$497.3K | |
| Retained Earnings | -$10.9M | -$14.0M | -$33.2M | -$32.2M | -$38.7M | -$47.3M | -$66.7M | -$104.4M | -$130.9M | -$186.9M | -$210.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6M | -$3.3M | -$3.9M | -$6.0M | -$6.1M | -$6.5M | -$12.7M | -$14.0M | -$25.2M | -$43.1M | -$38.8M | |
| Capital Expenditure | -$11.1K | -$19.7K | -$4.4K | $0.00 | -$7.2K | -$90.9K | -$28.1K | -$12.6K | -$1.6M | -$6.3K | -$11.00 | |
| Free Cash Flow | -$3.6M | -$3.3M | -$3.9M | -$6.0M | -$6.1M | -$6.6M | -$12.8M | -$14.0M | -$26.8M | -$43.1M | -$38.8M | |
| Investing Cash Flow | -$11.1K | -$19.7K | -$4.4K | $0.00 | -$7.2K | -$90.9K | $5.2M | $6.6M | -$245.6K | -$19.5M | $23.2M | |
| Financing Cash Flow | $407.7K | $3.5M | $5.5M | $6.0M | $6.7M | $13.1M | -$208.8K | $16.4M | $83.6M | $29.6K | -$161.1K | |
| Issuance of Stock | $50.0K | $187.6K | $3.1M | $1.9M | $6.1M | $6.1M | $2.0K | $11.7M | $83.6M | $29.6K | $17.7K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $500.0K | $2.3M | $5.2K | $566.7K | $0.00 | -$210.8K | $4.7M | $0.00 | $0.00 | -$250.3K | |
| Stock Based Comp. | $706.4K | $608.7K | $675.0K | $680.5K | $302.7K | $869.2K | $629.0K | $987.5K | $8.3M | $7.8M | -$2.19B | |
| Net Change in Cash | -$3.2M | $195.1K | $1.6M | -$23.4K | $639.5K | $6.5M | -$7.7M | $9.1M | $58.1M | -$62.5M | -$15.8M |
Dilution Tracker
Shares outstanding grew 4184.7% over 5 years — significant dilution
Shares Outstanding
4M
5-Year Share Growth
+4184.7%
Stock Issuance (TTM)
$17.7K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.01 | 0.02 | 0.07 | 0.07 | 0.12 | 0.20 | 0.28 | 0.88 | 4.56 | 4.96 | 4.96 | |
| Change vs Prior % | — | 51.6% | 335.4% | 1.2% | 74.0% | 75.7% | 36.6% | 215.4% | 420.8% | 8.7% | 0.0% | |
| Stock Issuance | $50.0K | $187.6K | $3.1M | $1.9M | $6.1M | $6.1M | $2.0K | $11.7M | $83.6M | $29.6K | $17.7K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $706.4K | $608.7K | $675.0K | $680.5K | $302.7K | $869.2K | $629.0K | $987.5K | $8.3M | $7.8M | -$2.19B |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 219.0% | 386.7% | 123.3% | 192.0% | -1455.5% | -145.3% | 647.6% | 1765.9% | -39.0% | -279.3% | -329.1% | |
| ROA % | -982.8% | -555.3% | -980.7% | 52.7% | -245.6% | -86.5% | -213.8% | -315.3% | -36.5% | -197.5% | -457.6% | |
| ROIC % | 1320.5% | 28053.2% | 33.6% | -645.6% | -322.7% | -98.1% | 1785.6% | -1398.7% | -44.0% | -286.6% | 11242.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -49.9% | 46.1% | 80.8% | 5.3% | -28.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -3.6% | 13.7% | -21.6% | -41.3% | 5.2% | -24.8% | -133.3% | -89.7% | 13.1% | -92.6% | |
| Net Income | 34.4% | 2.6% | -520.4% | 105.5% | -723.7% | -29.9% | -128.6% | -93.2% | 29.4% | -110.5% | |
| EPS (Diluted) | 43.7% | 35.8% | -42.5% | 105.4% | -476.8% | 33.0% | -75.4% | 38.8% | 86.4% | -93.2% | |
| Operating Cash Flow | 4.7% | 7.2% | -19.6% | -52.9% | -0.4% | -6.9% | -96.8% | -9.5% | -80.9% | -70.6% | |
| Free Cash Flow | 4.4% | 6.9% | -19.0% | -52.7% | -0.6% | -8.3% | -94.5% | -9.3% | -92.2% | -60.5% | |
| R&D Expense | 63.0% | -66.8% | 6.0% | 577.6% | -13.1% | 50.8% | 105.1% | -3.2% | 221.4% | 126.5% | |
| SG&A Expense | -5.6% | 0.5% | 23.0% | 0.7% | -1.1% | 13.1% | 24.0% | 28.8% | 125.7% | -10.9% | |
| Total Assets | -90.8% | 72.3% | 251.2% | 2.0% | 33.8% | 268.9% | -7.5% | 31.1% | 509.4% | -61.1% | |
| Book Value / Share | -375.4% | 65.4% | -346.8% | 103.5% | -52.6% | 638.2% | -137.6% | 77.5% | 713.9% | -73.0% | |
| Debt | 0.0% | 0.0% | 479.1% | -71.6% | 287.0% | 42.6% | -7.2% | 132.8% | -90.1% | -39.9% | |
| Diluted Shares | 16.7% | 51.6% | 335.4% | 1.2% | 74.0% | 75.7% | 36.6% | 215.4% | 420.8% | 8.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B-9.88
10Y Low / Med / High1.49 / 3.61 / 31.79
EV/EBITDA0.07
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.79
Cash / Share
$2.03
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1.80 | -1.48 | -2.74 | 16.54 | -1.41 | -2.60 | -0.46 | -0.51 | -3.88 | -0.53 | -0.10 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -3.94 | -5.74 | -3.38 | 31.79 | 20.47 | 3.61 | -2.95 | -8.94 | 1.52 | 1.49 | -9.88 | |
| EV/EBITDA | 0.00 | -1.48 | -11.10 | 7.82 | -1.41 | -1.85 | -0.51 | -0.61 | -1.40 | -0.44 | 0.07 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-41.60
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| Net Income | -$29.4M | -$33.4M | -$48.7M |
| EPS | $-5.92 | $-6.75 | $-10.72 |
| # Analysts (EPS) | 1 | 3 | 5 |