Skye CFO Sharp resigns; Nasdaq bid-price compliance regained

Skye Bioscience disclosed that John P. Sharp resigned as chief financial officer and principal financial and accounting officer effective September 8, with President and CEO Punit Dhillon assuming the latter responsibilities. Separately, Nasdaq notified the biotech company that it had regained minimum bid-price compliance and that the matter was closed. The changes were reported in a Form 8-K filed Friday, September 11, covering events beginning September 8.

Financial responsibilities move to Dhillon

Sharp’s resignation took effect September 8. Skye’s board appointed Dhillon as principal financial and accounting officer on September 9, with that appointment effective September 8. Dhillon continues as a director, president and chief executive officer, and the compensatory and other material terms of his employment remain unchanged. These are the disclosed facts of the succession: the filing assigns the principal financial and accounting officer responsibilities to the existing CEO without announcing a permanent CFO hire.

That distinction matters when assessing what changed inside the company. The filing identifies who now holds the financial and accounting officer responsibilities after Sharp’s departure. It does not establish the company’s longer-term CFO staffing plans or say that a replacement search is underway. For readers tracking the biotech company’s management, the immediate development is the addition of those responsibilities to Dhillon’s existing roles. The eventual structure of the finance leadership remains unknown from this disclosure.

Skye explicitly said Sharp’s departure did not result from a disagreement with its independent auditors or the company over financial statements, internal control over financial reporting, operations, policies or practices. That statement sets an important limit on interpretation. The resignation itself does not support an inference of a financial-reporting dispute, restatement or control failure. The filing provides the no-disagreement statement without giving a further explanation for his departure.

Related services agreement ends

In connection with Sharp’s resignation, Skye provided written notice to Lohman & Associates of its intent to terminate their March 31, 2026 master services agreement, effective September 8. The personnel change therefore came with a related change to the company’s services arrangement. Both carry the same effective date.

The filing qualifies its description of that agreement by reference to the full contract, previously filed as Exhibit 10.1 to an April 3 Form 8-K. The September disclosure establishes the termination notice and effective date; it does not provide a basis here for calculating savings, termination costs or the resources needed to perform the affected work. Those financial and operating consequences remain unknown on the evidence available for this report.

Nasdaq closes the bid-price matter

Separately, Skye received a September 8 letter from Nasdaq’s Listing Qualifications Department confirming that its common stock had maintained a closing bid price of at least $1.00 for 10 consecutive business days, August 24 through September 4. Nasdaq said the company had regained compliance with Listing Rule 5550(a)(2), the minimum bid-price requirement for continued listing on The Nasdaq Capital Market, and that the matter was now closed.

The significance is specific: Nasdaq confirmed that Skye satisfied the stated bid-price requirement over the required window and closed that compliance matter. This is a compliance-regained disclosure. The filing does not report a suspension or delisting, and the letter should not be described as a new adverse listing determination. It also supplies no basis for attributing a share-price reaction to either the letter or the management transition.

The $1.00 figure is the threshold cited in the notice, rather than a reported current trading price. Likewise, the August 24–September 4 window describes the historical period supporting Nasdaq’s decision. That evidence resolves the disclosed bid-price issue; it does not establish future trading levels or provide a broader assessment of Skye’s financial condition. The filing does not supply cash runway, revenue or clinical results with which to make that assessment.

What the filing leaves open

Taken together, the disclosures answer two immediate questions: who holds the principal financial and accounting officer responsibilities following Sharp’s resignation, and whether the specified Nasdaq bid-price matter remains open. Dhillon holds those responsibilities effective September 8, and Nasdaq says the matter is closed. The filing does not establish a causal connection between the management transition and the compliance outcome.

The report also contains proxy-solicitation and related language concerning Skye’s proposed acquisition of Redx Pharma Limited, referencing an August 14, 2026 transaction agreement. That is transaction context within this filing, not an announcement of a new definitive agreement or a completed acquisition. It does not establish a closing date, vote outcome or closing certainty. The unresolved issues for this update remain the longer-term finance leadership structure and any consequences of the services agreement’s termination that the disclosure does not quantify.

Filing reference

Skye Bioscience, Inc. disclosed the CFO transition and Nasdaq bid-price compliance update in Form 8-K AccNo 0001628280-26-061558 (Items 1.02, 5.02, and 8.01; Date of Report / earliest event September 8, 2026).