Skye Bioscience, Inc. Files S-1 Registration Statement

TL;DR

<b>Skye Bioscience, Inc. has filed an S-1 registration statement, marking a significant step in its corporate and financial reporting.</b>

AI Summary

Skye Bioscience, Inc. (SKYE) filed a IPO Registration (S-1) with the SEC on March 27, 2024. Skye Bioscience, Inc. (formerly Emerald Bioscience, Inc.) filed an S-1 registration statement on March 27, 2024. The company was formerly known as Nemus Bioscience, Inc. and Load Guard Logistics, Inc. The filing indicates a fiscal year end of December 31. The company's business address is in San Diego, CA. The filing references accounting standards updates from 2021.

Why It Matters

For investors and stakeholders tracking Skye Bioscience, Inc., this filing contains several important signals. This S-1 filing is a prerequisite for potential future public offerings or significant corporate actions, indicating the company is preparing for increased scrutiny and capital market activities. The historical name changes suggest a period of restructuring or strategic shifts, and the S-1 provides an updated view of the company's current status and future intentions.

Risk Assessment

Risk Level: — Skye Bioscience, Inc. shows moderate risk based on this filing. The filing is an S-1 registration statement, which is a standard procedural document for companies preparing for public offerings or other significant corporate events, and does not contain specific financial performance data or forward-looking statements that would indicate high risk.

Analyst Insight

Monitor future filings for details on Skye Bioscience's strategic direction and potential capital raises following this S-1 submission.

Key Numbers

• 2024-03-27 — Filing Date (Date of S-1 submission)
• 1231 — Fiscal Year End (Indicated fiscal year end)

Key Players & Entities

• Skye Bioscience, Inc. (company) — Filer name
• Emerald Bioscience, Inc. (company) — Former company name
• Nemus Bioscience, Inc. (company) — Former company name
• Load Guard Logistics, Inc. (company) — Former company name
• San Diego, CA (location) — Business address

FAQ

Industry Context

Skye Bioscience operates within the pharmaceutical preparations industry, focusing on drug development and related activities.

Regulatory Implications

The S-1 filing is a regulatory requirement for companies intending to offer securities to the public, ensuring transparency and compliance with SEC regulations.

What Investors Should Do

1. Review the full S-1 filing for detailed business descriptions and risk factors.
2. Track subsequent SEC filings for updates on Skye Bioscience's strategic plans and financial performance.
3. Monitor for any announcements regarding potential public offerings or significant corporate actions.

Key Dates

• 2024-03-27: S-1 Filing — Registration statement filed with the SEC.
• 2019-03-25: Name Change — Date of name change from Emerald Bioscience, Inc.
• 2014-10-30: Name Change — Date of name change from Nemus Bioscience, Inc.

Year-Over-Year Comparison

This filing is an S-1 registration statement, which is a preliminary document. Specific financial data and comparisons to prior filings are not available in this initial submission.

Key Financial Figures

• $0.001 — p to 33,753,271 shares of common stock, $0.001 par value per share (the "Common Stock"
• $5.16 — res") of our Common Stock at a price of $5.16 per share and (ii) accompanying warrant
• $5.0 million — "MFDI Note") in the principal amount of $5.0 million and (ii) an accompanying warrant to pur
• $2.31 — res") of our Common Stock at a price of $2.31 per share and (ii) to certain investors

Filing Documents

• skye-20240327.htm (S-1) — 2185KB
• exhibit107-resalesx1.htm (EX-FILING FEES) — 22KB
• exhibit51-resalesx1.htm (EX-5.1) — 23KB
• exhibit231-resalesx1.htm (EX-23.1) — 2KB
• fennmorelogo.jpg (GRAPHIC) — 20KB
• skye-20240327_g1.jpg (GRAPHIC) — 16KB
• skye-20240327_g2.jpg (GRAPHIC) — 573KB
• 0001628280-24-013372.txt (&nbsp;) — 12222KB
• skye-20240327.xsd (EX-101.SCH) — 90KB
• skye-20240327_cal.xml (EX-101.CAL) — 103KB
• skye-20240327_def.xml (EX-101.DEF) — 540KB
• skye-20240327_lab.xml (EX-101.LAB) — 869KB
• skye-20240327_pre.xml (EX-101.PRE) — 703KB
• skye-20240327_htm.xml (XML) — 1286KB

Use of Proceeds

Use of Proceeds 47 Plan of Distribution 48

Description of Securities

Description of Securities 50

Legal Proceedings

Legal Proceedings 74 Market for C ommon E quity and Related Stockholders M atters 75

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 76 Management 85

Executive Compensation

Executive Compensation 92 Certain Relationships and Related Transactions and Director Independence 98 Beneficial Ownership of Securities 101 Selling Securityholders 104 Experts 108 Legal Matters 109 Where You Can Find Additional Information 110 Index to Consolidated Financial Statements F- 1 You should rely only on the information provided in this prospectus and any applicable prospectus supplement. Neither we nor the Selling Securityholders have authorized anyone to provide you with different information. Neither we nor the Selling Securityholders are making an offer of these securities in any jurisdiction where the offer is not permitted. You should not assume that the information in this prospectus or any applicable prospectus supplement is accurate as of any date other than the date of the applicable document. Since the date of this prospectus, our business, financial condition, results of operations and prospects may have changed. i Table of Con tents ABOUT THIS PROSPECTUS This prospectus is part of a registration statement on Form S-1 that we filed with the SEC under the Securities Act. Under this process, the selling securityholders named in this prospectus may sell our common stock from time to time. The prospectus provides you with a general description of our common stock that the selling securityholders may offer. Each time the selling securityholders sell shares of our common stock, the selling securityholders will provide a prospectus supplement containing specific information about the terms of the applicable offering, as required by law. Such prospectus supplement may add, update or change information contained in this prospectus,

Forward-looking statements contained in this prospectus include, but are not limited to, statements about the following

Forward-looking statements contained in this prospectus include, but are not limited to, statements about the following: the results of our research and development activities, including uncertainties relating to the discovery of potential product candidates and the preclinical and clinical testing of our product candidates the timing, progress and results of our clinical studies for SBI-100 Ophthalmic Emulsion (SBI-100 OE) and nimacimab and our estimates regarding the market opportunity for SBI-100 OE and nimacimab if approved; the early stage of our product candidates presently under development; our ability to obtain and, if obtained, maintain regulatory approval of our current product candidates, and any of our other future product candidates, and any related restrictions, limitations, and/or warnings in the label of any approved product candidate our ability to retain or hire key scientific or management personnel our ability to protect our intellectual property rights that are valuable to our business, including patent and other intellectual property rights our dependence on University of Mississippi, third party manufacturers, suppliers, research organizations, testing laboratories and other potential collaborators, including global supply chain disruptions our ability to develop successful sales and marketing capabilities in the future as needed the size and growth of the potential markets for any of our current product candidates, and the rate and degree of market acceptance of any of our current product candidates competition in our industry regulatory developments in the United States and foreign countries; and current pending litigation matters, including the Cunning Lawsuit. Forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in " Risk Factors " and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge

View Full Filing

View this S-1 filing on SEC EDGAR