Risk factor
Very high price volatility
Profitability factor
Greatly undervalued vs peers
About
Skye Bioscience, Inc., a clinical-stage biotechnology company, focuses on developing molecules that modulate G-protein-coupled receptors (GPCRs) to treat obesity, overweight, and metabolic diseases. Its lead product candidate is nimacimab, a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1, a key GPCR involved in metabolic regulation. The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. Skye Bioscience, Inc. is headquartered in San Diego, California.
Company Valuation
From both historical and forecast perspectives, the stock is considerably underpriced compared to similar stocks. Specifically, the stock is undervalued on EV/EBITDA.