Skye Bioscience, Inc. 8-K

What Happened

• On December 18, 2025 Skye Bioscience, Inc. announced it entered a Non‑exclusive Collaboration and License Agreement with Halozyme, Inc. The deal grants Skye a non‑exclusive license to Halozyme’s ENHANZE® drug delivery technology to develop a subcutaneous (SC) formulation of nimacimab (the “Product”). Halozyme will also serve as Skye’s exclusive supplier of clinical and commercial supplies of the API for Halozyme’s rHuPH20 bulk drug product.
• The company filed the agreement in an 8‑K on December 23, 2025 and expects to attach the full agreement as an exhibit to a future periodic SEC report.

Key Details

• Agreement date: December 18, 2025; 8‑K filed December 23, 2025.
• License type: non‑exclusive license to ENHANZE® for developing a SC nimacimab product.
• Consideration: Skye will pay development/commercial milestone payments and additional milestone payments tied to certain net sales thresholds; Skye will also pay mid‑single digit royalties on worldwide net sales of the Product.
• Other terms: Halozyme is the exclusive supplier of the relevant rHuPH20 bulk API; the agreement contains customary termination rights, representations and warranties, covenants and indemnification.

Why It Matters

• For investors, the deal establishes a clear development path to a subcutaneous formulation of nimacimab using an established delivery technology (ENHANZE®) and secures a supplier for the rHuPH20 API.
• Financially, Skye’s obligations include milestone payments and ongoing mid‑single digit royalties, which could affect future cash flows and gross‑to‑net economics for the Product if it reaches commercialization.
• The license is non‑exclusive, so competing uses of ENHANZE® are possible; the agreement’s full commercial impact will depend on development progress, regulatory outcomes and future sales performance.