Quarterly ResultMay 11, 2026, 04:03 PM
Skye Bioscience Initiates CBeyond Expansion Study; Q1 Net Loss $12.5M
AI Summary
Skye Bioscience reported its first quarter 2026 financial results, alongside significant clinical and business updates for its nimacimab program. The company initiated enrollment for Cohort 1 of the CBeyond Expansion Study (Part C) and scheduled a Cohort Review Committee meeting for May 18, 2026, to evaluate safety data and potential progression to Cohort 2. Skye also engaged Lilly Catalyze360 for strategic guidance on the nimacimab target product profile and Phase 2b trial design. For Q1 2026, the company reported a net loss of $12.5 million and held $17.1 million in cash, expecting this to fund operations through Q4 2026, excluding Phase 2b clinical costs.
Key Highlights
- CBeyond Expansion Study (Part C) Cohort 1 initiated for nimacimab.
- Cohort Review Committee to meet May 18, 2026, to review Cohort 1 safety data.
- Engaged Lilly Catalyze360 for strategic guidance on nimacimab TPP and Phase 2b trial design.
- Q1 2026 R&D expenses increased to $7.9 million from $7.2 million in Q1 2025.
- Q1 2026 net loss was $12.5 million, compared to $11.1 million in Q1 2025.
- Cash, cash equivalents, and short-term investments totaled $17.1 million as of March 31, 2026.
- Current capital is expected to fund operations and key clinical milestones through Q4 2026.
- Topline clinical data from the CBeyond Expansion Study is expected in Q4 2026.