Sphera Funds Management Takes Stake in Skye Bioscience
Ticker: SKYE · Form: SC 13G · Filed: Feb 8, 2024 · CIK: 1516551
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, new-stake, pharmaceuticals
TL;DR
**Big fund Sphera just bought into Skye Bioscience, signaling potential upside.**
AI Summary
Sphera Funds Management Ltd., a Tel Aviv-based investment firm, reported acquiring a significant stake in Skye Bioscience, Inc. (SKYE) on January 29, 2024. This filing indicates that Sphera now holds a substantial position in the pharmaceutical preparations company, signaling their belief in Skye's future prospects. This matters to current and potential SKYE shareholders because a large institutional investor taking a position can be seen as a vote of confidence, potentially influencing stock price and future investor interest.
Why It Matters
A major institutional investor like Sphera Funds Management Ltd. buying into Skye Bioscience could signal market confidence and potentially attract other investors, impacting the stock's valuation.
Risk Assessment
Risk Level: low — This filing indicates a new institutional investor, which is generally a positive signal and does not inherently increase risk for existing shareholders.
Analyst Insight
A smart investor would research Sphera Funds Management Ltd.'s investment strategy and Skye Bioscience's recent developments to understand the potential rationale behind this new stake, considering it as a positive signal.
Key Players & Entities
- Sphera Funds Management Ltd. (company) — reporting person, institutional investor
- Skye Bioscience, Inc. (company) — subject company, pharmaceutical preparations
- January 29, 2024 (date) — date of event requiring filing
- Tel Aviv (company) — business address of Sphera Funds Management Ltd.
- San Diego (company) — business address of Skye Bioscience, Inc.
Forward-Looking Statements
- Other institutional investors may take a closer look at Skye Bioscience due to Sphera's investment. (Skye Bioscience, Inc.) — medium confidence, target: Q2 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person in this SC 13G filing is Sphera Funds Management Ltd., located at 4 Itzhak Sade Building A, 29th Floor, Tel Aviv, L3, 6777520.
What is the name of the issuer (subject company) in this filing?
The name of the issuer (subject company) is Skye Bioscience, Inc., with a business address at 11250 El Camino Real, Suite 100, San Diego, CA 92130.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock, Par Value $0.001, of Skye Bioscience, Inc. is 83086J200.
When was the event that required the filing of this statement?
The date of the event which required the filing of this statement was January 29, 2024.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c).
Filing Stats: 1,640 words · 7 min read · ~5 pages · Grade level 12.9 · Accepted 2024-02-08 09:51:17
Key Financial Figures
- $0.001 — ame of Issuer) Common Stock, Par Value $0.001 (Title of Class of Securities) 83086
Filing Documents
- zk2430910.htm (SC 13G) — 87KB
- exhibit_1.htm (EX-99) — 6KB
- 0001178913-24-000414.txt ( ) — 94KB
(a)
Item 1. (a) Name of Issuer : Skye Bioscience, Inc. (b) Address of Issuer's Principal Executive Offices : 11250 El Camino Real, Suite 100, San Diego, CA
(a)
Item 2. (a) Name of Person Filing : Sphera Funds Management Ltd. Sphera Global Healthcare GP Ltd. Sphera Global Healthcare Management LP (b) Address of Principal Business Office : Sphera Funds Management Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare GP Ltd. – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel Sphera Global Healthcare Management LP – 4 Itzak Sade, Building A, 29 th Floor, Tel Aviv 6777504, Israel (c) Citizenship : Sphera Funds Management Ltd. – Israel Sphera Global Healthcare GP Ltd. – Israel Sphera Global Healthcare Management LP – Israel (d) Title of Class of Securities : Common Stock, Par Value $0.001 (e) CUSIP Number : 83086J200 Item 3 . Not applicable. Item 4 . (a) Amount beneficially owned : See row 9 of cover page of each reporting person. 5 The securities reported herein by Sphera Funds Management Ltd., Sphera Global Healthcare GP Ltd. and Sphera Global Healthcare Management LP are beneficially owned as follows: 216,920 shares of Common Stock, representing a total of 0.90% of the total shares of Common Stock outstanding, are held directly by Sphera Global Healthcare Master Fund, which has delegated its investment management authority to Sphera Global Healthcare Management LP (the " Management Company "). 1,084,598 shares of Common Stock, representing a total of 4.49% of the total shares of Common Stock outstanding, are held directly by Sphera Biotech Master Fund, L.P., which has delegated its investment management authority to the Management Company. The Management Company is managed, controlled, and operated by its general partner, Sphera Global Healthcare GP Ltd., the shares of which are owned 90% by Sphera Funds Management Ltd. This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of any of the securities covered by this Statement, and each Reporting Pers