On March 17, 2026, Skye Bioscience, Inc. received a deficiency letter from the Nasdaq Listing Qualifications Department. The letter indicated that the company's common stock has been trading below the minimum required bid price of $1.00 per share for the last 30 consecutive business days. This situation is in violation of Nasdaq Listing Rule 5450(a)(1). Despite this deficiency, the company’s stock will continue to trade on the Nasdaq Global Market under the symbol 'SKYE' for the time being. Skye has been granted a period of 180 calendar days, until September 14, 2026, to regain compliance with the minimum bid price requirement. If the company fails to meet this requirement by the deadline, it may be eligible for a second 180-day compliance period, provided it meets other listing standards. The company is actively monitoring its stock price and is considering options to resolve the deficiency, including the possibility of a reverse stock split. However, there is no guarantee that compliance will be achieved.

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