Skye Bioscience, Inc. 8-K

What Happened Skye Bioscience, Inc. (SKYE) filed an 8-K reporting that on March 17, 2026 it received a deficiency letter from the Nasdaq Listing Qualifications Staff because the closing bid price for its common stock had been below the $1.00 minimum required under Nasdaq Listing Rule 5450(a)(1) for the last 30 consecutive business days. The deficiency letter does not have an immediate effect on the listing, and SKYE will continue trading on The Nasdaq Global Market under the ticker “SKYE” for now.

Key Details

• Nasdaq notified the company on March 17, 2026 that the closing bid was below $1.00 for 30 consecutive business days, triggering Rule 5450(a)(1) deficiency procedures.
• The Company has 180 calendar days (until September 14, 2026) to regain compliance by achieving a closing bid of $1.00 or more for at least 10 consecutive business days.
• If Skye implements a reverse stock split, it must complete it no later than ten business days before September 14, 2026 to be effective for this compliance period.
• If compliance is not regained by September 14, 2026, Nasdaq may grant a second 180-day period if Skye meets market value and other initial listing standards for The Nasdaq Capital Market (except the minimum bid price) and notifies Nasdaq of its intent to cure.

Why It Matters This notice signals a potential listing risk: if Skye does not restore its share price above $1 for the required period (or take another eligible action like a reverse split), it could face Nasdaq delisting procedures. For investors, the stock remains tradeable now, but the outcome could affect liquidity, share structure (if a reverse split is used), and investor perception. The company said it will monitor the situation and consider options, but made no assurance it will regain compliance.