SKYE · Skye Bioscience, Inc.

Skye Bioscience, Inc. faces a critical compliance challenge with Nasdaq Global Market listing standards after its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, revealed stockholders' equity of $9,011,804, falling short of the required $10,000,000 minimum under Listing Rule 5450(b)(1)(A). The written notification from Nasdaq's Listing Qualifications Department on May 13, 2026, triggers a 45-calendar-day window until June 29, 2026, for the Company to submit a specific plan outlining steps to regain and maintain compliance across all listing requirements. Acceptance of the plan could extend the compliance period up to 180 calendar days from the notice date, providing until November 9, 2026, to demonstrate adherence. Rejection allows an appeal, during which the common stock (par value $0.001 per share, ticker SKYE) remains listed and trading unaffected. This development underscores balance sheet pressures in the biotech sector, where equity shortfalls often signal funding needs or operational losses. While the Company is actively evaluating options, the lack of assurance heightens delisting risk, potentially impacting liquidity, investor confidence, and access to capital markets if unresolved.