Skye Bioscience (SKYE) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 05, 2022
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-55136
Entity Registrant Name	Skye Bioscience, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	45-0692882
Entity Address, Address Line One	11250 El Camino Real,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	410-0266
Title of 12(g) Security	Common Stock, par value $0.001
Trading Symbol	SKYE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		495,925,112
Entity Central Index Key	0001516551
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Former Address
Entity Addresses [Line Items]
Entity Address, Address Line One	5910 Pacific Blvd
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash	$ 6,006,869	$ 8,983,007
Restricted cash	4,572	4,571
Prepaid expenses	822,541	554,217
Prepaid expenses - related party	48,908	13,432
Other current assets	109,750	56,870
Total current assets	6,992,640	9,612,097
Property and equipment, net	80,768	87,710
Operating lease right-of-use asset	128,935	146,972
Other asset	8,309	8,309
Total assets	7,210,652	9,855,088
Current liabilities
Accounts payable	878,720	897,880
Accounts payable - related parties	24,026	2,130
Accrued interest - related party	218,039	174,911
Accrued payroll liabilities	237,037	344,450
Insurance premium loan payable	214,307	0
Other current liabilities	378,106	375,842
Derivative liability	16,077	59,732
Multi-draw credit agreement - related party	450,000	450,000
Convertible multi-draw credit agreement - related party, net of discount	1,679,741	1,524,905
Operating lease liability, current portion	85,601	82,372
Total current liabilities	4,181,654	3,912,222
Non-current liabilities
Operating lease liability, net of current portion	55,906	78,700
Total liabilities	4,237,560	3,990,922
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.001 par value; 50,000,000 shares authorized at March 31, 2022 and December 31, 2021; no shares issued and outstanding at March 31, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value; 5,000,000,000 shares authorized at March 31, 2022 and December 31, 2021; 495,925,112 and 476,108,445 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	495,925	476,108
Additional paid-in-capital	52,776,729	52,644,221
Accumulated deficit	(50,299,562)	(47,256,163)
Total stockholders’ equity	2,973,092	5,864,166
Total liabilities and stockholders’ equity	$ 7,210,652	$ 9,855,088

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	495,925,112	476,108,445
Common stock, shares outstanding (in shares)	495,925,112	476,108,445

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating expenses
Research and development	$ 1,265,653	$ 609,656
General and administrative	1,622,368	1,127,606
Total operating expenses	2,888,021	1,737,262
Operating loss	(2,888,021)	(1,737,262)
Other expense (income)
Change in fair value of derivative liabilities	(43,655)	238,350
Interest expense	199,033	184,905
Total other expense, net	155,378	423,255
Loss before income taxes	(3,043,399)	(2,160,517)
Net loss and comprehensive loss	$ (3,043,399)	$ (2,160,517)
Loss per common share:
Basic (in dollars per share)	$ (0.01)	$ (0.01)
Diluted (in dollars per share)	$ (0.01)	$ (0.01)
Weighted average shares of common stock outstanding used to compute earnings per share:
Basic (in shares)	495,823,445	336,883,489
Diluted (in shares)	495,823,445	336,883,489

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (3,043,399)	$ (2,160,517)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	26,978	938
Stock-based compensation expense	137,358	146,580
Change in fair value of derivative liabilities	(43,655)	238,350
Amortization of debt discount	154,836	141,490
Changes in assets and liabilities:
Prepaid expenses	7,213	(34,199)
Prepaid expenses - related party	(35,476)	0
Other current asset	(52,880)	0
Accounts payable	(19,160)	135,514
Accounts payable - related parties	21,896	(7,032)
Accrued interest - related party	43,128	(958)
Accrued payroll liabilities	(107,413)	70,448
Operating lease liability	(19,565)	0
Other current liabilities	15,264	121,298
Net cash used in operating activities	(2,914,875)	(1,348,088)
Cash flows from investing activities:
Purchase of property and equipment	(1,999)	(10,696)
Net cash used in investing activities	(1,999)	(10,696)
Cash flows from financing activities:
Repayment of insurance premium loan payable	(61,230)	0
Net cash (used in) provided by financing activities	(59,263)	4,041,800
Net (decrease) increase in cash and restricted cash	(2,976,137)	2,683,016
Cash and restricted cash, beginning of period	8,987,578	2,473,976
Cash and restricted cash, end of period	6,011,441	5,156,992
Reconciliation of cash and restricted cash:
Cash	6,006,869	5,152,425
Restricted cash	4,572	4,567
Total cash and restricted cash shown in the consolidated statements of cash flows	6,011,441	5,156,992
Cash paid during the period for:
Interest	0	44,087
Supplemental disclosures of non-cash financing activities:
Financing of insurance premium		0
Release of share liability to additional paid-in-capital	13,000	0
Common Stock Warrants
Cash flows from financing activities:
Proceeds from warrant exercises	0	4,030,000
Prefunded Warrants
Cash flows from financing activities:
Proceeds from warrant exercises	$ 1,967	$ 11,800

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)	Total	Common Stock Warrants	Prefunded Warrants	Common Stock	Common StockCommon Stock Warrants	Common StockPrefunded Warrants	Additional Paid-In Capital	Additional Paid-In CapitalCommon Stock Warrants	Additional Paid-In CapitalPrefunded Warrants	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020				288,074,415
Beginning balance at Dec. 31, 2020	$ 450,786			$ 288,074			$ 38,896,693			$ (38,733,981)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense (in shares)				600,000
Stock-based compensation expense	146,580			$ 600			145,980
Exercise warrant (in shares)					67,166,667	11,800,000
Exercise warrant		$ 4,030,000	$ 11,800		$ 67,167	$ 11,800		$ 3,962,833
Net loss	(2,160,517)									(2,160,517)
Ending balance (in shares) at Mar. 31, 2021				367,641,082
Ending balance at Mar. 31, 2021	2,478,649			$ 367,641			43,005,506			(40,894,498)
Beginning balance (in shares) at Dec. 31, 2021				476,108,445
Beginning balance at Dec. 31, 2021	5,864,166			$ 476,108			52,644,221			(47,256,163)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense (in shares)				150,000
Stock-based compensation expense	150,358			$ 150			150,208
Exercise warrant (in shares)			19,666,667			19,666,667
Exercise warrant			$ 1,967			$ 19,667			$ (17,700)
Net loss	(3,043,399)									(3,043,399)
Ending balance (in shares) at Mar. 31, 2022				495,925,112
Ending balance at Mar. 31, 2022	$ 2,973,092			$ 495,925			$ 52,776,729			$ (50,299,562)

Nature of Operations and Busine

Nature of Operations and Business Activities	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Nature of Operations and Business Activities	Nature of Operations and Business Activities Nature of Operations Skye Bioscience, Inc. (the “Company”) was initially incorporated in Nevada on March 16, 2011 as Load Guard Logistics, Inc. On October 31, 2014, the Company closed a reverse merger transaction (the “Merger”) pursuant to which Nemus, a California corporation (“Nemus Sub”), became the Company’s wholly owned subsidiary, and the Company assumed the operations of Nemus Sub. Nemus Sub was incorporated in the State of California on July 17, 2012. On November 3, 2014, the Company changed its name to Nemus Bioscience, Inc. by merging with Nemus Sub to form a Nevada company. Effective March 25, 2019, the Company changed its name from Nemus Bioscience, Inc. to Emerald Bioscience, Inc. Effective January 19, 2021, the Company changed its name from Emerald Bioscience, Inc. to Skye Bioscience, Inc. In August 2019, the Company formed a new subsidiary in Australia, SKYE Bioscience Pty Ltd. (formerly "EMBI Australia Pty Ltd."), an Australian proprietary limited company ("SKYE Bioscience Australia"), in order to qualify for the Australian government’s research and development tax credit for research and development dollars spent in Australia. The primary purpose of SKYE Bioscience Australia is to conduct clinical trials for the Company’s product candidates. The Company is a pre-clinical pharmaceutical company located in San Diego, California that researches, develops and plans to commercialize cannabinoid derivatives through its own directed research efforts and through several license agreements with the University of Mississippi ("UM"). As of March 31, 2022, the Company has devoted substantially all its efforts to securing product licenses, carrying out its own research and development, building infrastructure and raising capital. The Company has not yet realized revenue from its planned principal operations and is a number of years away from potentially being able to do so. Liquidity and Going Concern The Company has incurred operating losses and negative cash flows from operations since inception and as of March 31, 2022, had an accumulated deficit of $50,299,562. As of March 31, 2022, the Company had unrestricted cash in the amount of $6,006,869. For the three months ended March 31, 2022 and 2021, the Company incurred losses from operations of $2,888,021 and $1,737,262, respectively. For the three months ended March 31, 2022 and 2021, the Company incurred net losses of $3,043,399 and $2,160,517, respectively. The Company expects to continue to incur significant losses through 2022 and expects to incur significant losses and negative cash flows from operations in the future. The Company’s continued existence is dependent on its ability to raise sufficient additional funding to cover operating expenses and to carry out its research and development activities. As the Company approaches its first clinical trial in the second quarter of 2022, it has increased research and development spending, resulting in an increase in cash used in operating activities. However, based on the Company’s expected cash requirements, without obtaining additional funding by the third quarter of 2022, management believes that the Company will not have enough funds to continue clinical studies and pay down its related party debt. These conditions give rise to substantial doubt as to the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. On October 5, 2018, the Company entered into a Multi-Draw Credit Agreement (the “Credit Agreement”) with Emerald Health Sciences ("Sciences"), a related party (Note 8). On April 29, 2020, the Company entered into an Amended and Restated Multi-Draw Credit Agreement (the “Amended Credit Agreement”) with Sciences. As of March 31, 2022, the Company had an outstanding principal balance of $2,464,500 under the Amended Credit Agreement. Effective September 15, 2021, the disbursement line under the Amended Credit Agreement was closed and it no longer serves as a potential source of liquidity to the Company. The outstanding advances plus accrued interest under the Amended Credit Agreement are due on October 5, 2022 (See Note 4). The Company plans to continue to pursue funding through public equity financings, licensing arrangements, government grants or other strategic arrangements. However, the Company cannot provide any assurances that such additional funds will be available on reasonable terms, or at all. If the Company raises additional funds by issuing equity securities, dilution to existing stockholders would result. In December 2019, a novel strain of coronavirus ("COVID-19") emerged in Wuhan, China. Since then, it has spread to the United States, the European Union, and Australia, where the Company has operations and conducts laboratory research and clinical studies. The effects of COVID-19 could impact the Company's ability to operate as a going concern and maintain sufficient liquidity to continue operations. The impact of COVID-19 on companies is evolving rapidly and its future effects are uncertain. It is possible that the Company may encounter issues relating to the current situation that will need to be considered by management in the future. The factors to take into account in going concern judgements and financial projections include travel bans, restrictions, government assistance and potential sources of replacement financing, financial health of service providers and the general economy. The Company has made adjustments to its operations designed to keep its employees safe and comply with federal, state, and local guidelines. The extent to which COVID-19 may further impact the Company’s business, results of operations, financial condition and cash flows will depend on future developments, which are highly uncertain and cannot be predicted with confidence. In response to COVID-19, the United States government has passed legislation and taken other actions to provide financial relief to companies and other organizations affected by the pandemic. Notably, the Company relies on third party manufacturers to produce its product candidates. The manufacturing of SBI-100 is conducted in the United States. Formulation of the eye drop for testing is also performed in the United States but can rely on regulatory-accepted excipients that can be sourced from countries outside the United States. In connection with the COVID-19 pandemic, there could possibly be an impact on sourcing materials that are part of the eye drop formulation, as well as impacting volunteer and/or patient recruitment in Australia for clinical studies. The location of the clinical trial site is in Australia and since the COVID-19 outbreak in that country, multiple cities have experienced health emergency lockdowns which have had a negative impact on the conduct and timelines of the clinical studies. Therefore, the Company has shifted its first-in-human studies of SBI-100 to the second quarter of 2022. After considering the plans to alleviate substantial doubt, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The accompanying Condensed Consolidated Financial Statements do not include any adjustments that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation In the opinion of management, the accompanying Unaudited Interim Condensed Consolidated Financial Statements have been prepared on a consistent basis with the Company’s Audited Consolidated Financial Statements as of and for the year ended December 31, 2021, and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Condensed Consolidated Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and therefore, omit certain information and footnote disclosures necessary to present the financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or any future periods. The Condensed Consolidated Balance Sheet as of December 31, 2021 was derived from the Company’s audited financial statements as of December 31, 2021, which are included in the Company’s Annual Report on Form 10-K filed with the SEC on March 28, 2022. The Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the Audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which includes a broader discussion of the Company’s business and the risks inherent therein. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries SKYE Bioscience Australia and Nemus Sub. All intercompany accounts and transaction have been eliminated in consolidation. Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates and judgements as to the appropriate carrying values of equity instruments, derivative liabilities, debt with embedded features, and the valuation of stock based compensation awards, which are not readily apparent from other sources. Risks and Uncertainties The Company’s operations are subject to a number of risks and uncertainties, including but not limited to, changes in the general economy, the size and growth of the potential markets for any of the Company’s product candidates, uncertainties related to the impact of COVID-19 (Note 1), results of research and development activities, uncertainties surrounding regulatory developments in the United States, the European Union and Australia, and the Company’s ability to attract new funding. Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable, and the last is considered unobservable, is used to measure fair value: Level 1: Valuations for assets and liabilities traded in active markets from readily available pricing sources such as quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The carrying values of the Company’s financial instruments, with the exception of the Amended Credit Agreement and derivative liabilities, approximate their fair value due to their short maturities. The derivative liabilities are valued on a recurring basis utilizing Level 3 inputs (Note 3). As of December 31, 2021, the Company estimated that the fair value of the Amended Credit Agreement, including the non-convertible advances was $2,484,768. As of March 31, 2022, the Company estimated that the fair value of the Amended Credit Agreement, including the non-convertible advances was $2,559,549. As of March 31, 2022 and December 31, 2021, the carrying value of the Amended Credit Agreement was $2,129,741 and $1,974,905, respectively. Information pertinent to estimating the fair value of the Amended Credit Agreement includes valuing the embedded conversion feature using Level 3 inputs and considering the discounted cash flows of the interest and principal payments through maturity (Note 4). Convertible Instruments The Company accounts for hybrid contracts with embedded conversion features in accordance with ASC 815, Derivatives and Hedging Activities (“ASC 815”) which requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The Company accounts for convertible debt instruments with embedded conversion features in accordance with ASC 470-20, Debt with Conversion and Other Options (“ASC 470-20”) if it is determined that the conversion feature should not be bifurcated from their host instruments. Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the difference between the fair value of the underlying common stock at the commitment date and the embedded effective conversion price. When the Company determines that the embedded conversion option should be bifurcated from its host instrument, the embedded feature is accounted for in accordance with ASC 815. Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract is allocated to the fair value of the derivative. The derivative is subsequently recorded at fair value at each reporting date based on current fair value, with the changes in fair value reported in the results of operations. The Company also follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) when evaluating the accounting for its hybrid instruments. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception (for example, a payable settled with a variable number of the issuer’s equity shares); (b) variations in something other than the fair value of the issuer’s equity shares (for example, a financial instrument indexed to the Standard and Poor’s S&P 500 Index and settled with a variable number of the issuer’s equity shares); or (c) variations inversely related to changes in the fair value of the issuer’s equity shares (for example, a written put option that could be net share settled). Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives and are carried as a liability at fair value at each balance sheet date with a re-measurement reported in other expense (income), net in the accompanying Condensed Consolidated Statements of Comprehensive Loss. When determining the short-term vs. long-term classification of derivative liabilities, the Company first evaluates the instruments’ exercise provisions. Generally, if a derivative is a liability and exercisable within one year, it will be classified as short-term. However, because of the unique provisions and circumstances that may impact the accounting for derivative instruments, the Company carefully evaluates all factors that could potentially restrict the instrument from being exercised or create a situation where exercise would be considered remote. The Company re-evaluates its derivative liabilities at each reporting period end and makes updates for any changes in facts and circumstances that may impact classification. Warrants Issued in Connection with Financings The Company generally accounts for warrants issued in connection with debt and equity financings as a component of equity, unless the warrants include a conditional obligation to issue a variable number of shares or there is a deemed possibility that the Company may need to settle the warrants in cash. For warrants issued with a conditional obligation to issue a variable number of shares or the deemed possibility of a cash settlement, the Company records the fair value of the warrants as a liability at each balance sheet date and records changes in fair value in other expense (income), net in the Condensed Consolidated Statements of Comprehensive Loss. Debt Issuance Costs and Interest Discounts related to bifurcated derivatives, freestanding instruments issued in bundled transactions, and issuance costs are recorded as a reduction to the carrying value of the debt and amortized over the life of the debt using the effective interest method. The Company makes changes to the effective interest rate, as necessary, on a prospective basis. For debt facilities that provide for multiple advances, the Company initially defers any issuance costs until the first advance is made and then amortizes the costs over the life of the facility. Research and Development Expenses and Licensed Technology Research and development costs are expensed when incurred. These costs may consist of external research and development expenses incurred under agreements with third party contract research organizations and investigative sites, third party manufacturing organizations and consultants; license fees; employee-related expenses, which include salaries and benefits for the personnel involved in the Company’s preclinical drug development activities, other expenses and equipment and laboratory supplies. Costs incurred for the rights to use licensed technologies in the research and development process, including licensing fees and milestone payments, are charged to research and development expense as incurred in situations where the Company has not identified an alternative future use for the acquired rights, and are capitalized in situations where there is an identified alternative future use. None of the costs associated with the use of licensed technologies have been capitalized to date. Stock-Based Compensation Expense Stock-based compensation expense is estimated at the grant date based on the fair value of the award, and the fair value is recognized as expense ratably over the vesting period with forfeitures accounted for as they occur. Upon the exercise of stock option awards, the Company's policy is to issue new shares of its common stock. The Company uses the Black-Scholes valuation method for estimating the grant date fair value of stock options using the following assumptions: • Volatility - Expected volatility is estimated using the historical stock price performance over the expected term of the award. • Expected term - The expected term is based on a simplified method which defines the life as the weighted average of the contractual term of the options and the vesting period for each award. • Risk-free rate - The risk-free interest rate for the expected term of the option is based on the average market rate on U.S. Treasury securities in effect during the period in which the awards were granted. • Dividends - The dividend yield assumption is based on the Company’s history and expectation of paying no dividends in the foreseeable future. Loss Per Common Share The Company applies ASC No. 260, Earnings per Share in calculating its basic and diluted loss per common share. Basic loss per common share is computed by dividing net loss available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted loss per share of common stock is computed by giving effect to all potential common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of this calculation, options to purchase common stock, restricted stock subject to vesting, warrants to purchase common stock and common shares underlying convertible debt instruments are considered to be common stock equivalents. The computations of basic and diluted loss per common share are as follows: Three Months Ended 2022 2021 Basic and diluted loss per share: Net loss $ (3,043,399) $ (2,160,517) Weighted average common shares outstanding – basic and diluted 495,823,445 336,883,489 Loss per share - basic and diluted $ (0.01) $ (0.01) The following outstanding shares of common stock equivalents were excluded from the computation of diluted loss per share of common stock for the periods presented because including them would have been anti-dilutive: Three Months Ended 2022 2021 Stock options 34,365,000 21,560,000 Common shares underlying convertible debt 5,124,384 5,124,384 Warrants 134,187,225 78,546,668 Unvested restricted stock units 4,000,000 — Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . This ASU amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity and improves and amends the related EPS guidance for both Subtopics. The ASU will be effective for annual reporting periods after December 15, 2023 and interim periods within those annual periods and early adoption is permitted in fiscal periods ending after December 15, 2020. Upon implementation, the Company may use either a modified retrospective or full retrospective method of adoption. The adoption of ASU 2020-06 will impact the way the Company calculates its (loss) earnings per share, result in expanded disclosures around convertible instruments and remove the requirement to assess and record beneficial conversion features. The Company currently plans to adopt the provisions of this ASU on the effective date. However, it reserves the right to early adopt these provisions. Recently Adopted Accounting Pronouncements In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance . The aim of ASU 2021-10 is to increase the transparency of government assistance including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. Diversity currently exists in the recognition, measurement, presentation, and disclosure of government assistance received by business entities because of the lack of specific authoritative guidance in GAAP. The ASU will be effective for annual reporting periods after December 15, 2021, and early adoption is permitted. Upon implementation, the Company may use either a prospective or retrospective method of adoption when adopting the ASU. The adoption of ASU 2021-10 impacts the disclosures related to the rebates that the Company receives from the Australian Taxation Office ("ATO") against research and development activities for its Phase 1 clinical trials in Australia. The Company adopted the provisions of this ASU on the effective date using a prospective adoption method as rebates from the ATO in prior periods were not material to the Company's financial statements.

Warrants and Derivative Liabili

Warrants and Derivative Liabilities	3 Months Ended
	Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrants and Derivative Liabilities	Warrants and Derivative Liabilities There are significant judgements and estimates inherent in the determination of the fair value of the Company’s warrants and derivative liabilities. These judgements and estimates include assumptions regarding the Company’s future operating performance, the time to completing a liquidity event, if applicable, and the determination of the appropriate valuation methods. If the Company had made different assumptions, the fair value of the warrants and derivative liabilities could have been significantly different (See Note 2). Warrants Warrants vested and outstanding as of March 31, 2022 are summarized as follows: Source Exercise Term Number of Pre 2015 Common Stock Warrants $ 1.00 10 1,110,000 2015 Common Stock Warrants 5.00 10 100,000 2016 Common Stock Warrants to Service Providers 1.15 10 40,000 2018 Emerald Financing Warrants 0.10 5 3,400,000 Emerald Multi-Draw Credit Agreement Warrants 0.50 5 7,500,000 2019 Common Stock Warrants 0.35 5 8,000,000 2020 Common Stock Warrants to Placement Agent 0.08 5 8,166,667 2021 Inducement Warrants 0.15 5 21,166,667 2021 Inducement Warrants to Placement Agent 0.19 5 1,481,667 2021 Common Stock Warrants 0.09 5 77,777,779 2021 Common Stock Warrants to Placement Agent 0.11 5 5,444,445 Total warrants vested and outstanding as of March 31, 2022 134,187,225 Derivative Liabilities The following tables summarize the activity of the derivative liability for the periods indicated: Three Months Ended March 31, 2022 December 31, 2021 Fair Value of Derivative Liability Fair Change in Reclassification March 31, 2022 Fair Value of Derivative Liability Emerald Financing - warrant liability (1) $ 59,732 $ — $ (43,655) $ — $ 16,077 Current balance of derivative liabilities $ 59,732 $ — $ (43,655) $ — $ 16,077 Three Months Ended March 31, 2021 December 31, 2020 Fair Value of Derivative Liability Fair Change in Reclassification March 31, 2021 Fair Value of Derivative Liability Emerald Financing - warrant liability (1) $ 38,567 $ — $ 238,350 $ — $ 276,917 Total derivative liabilities $ 38,567 $ — $ 238,350 $ — $ 276,917 Emerald Financing Warrant Liability (1) The Emerald Financing Warrants were issued during 2018 in connection with the Emerald Financing, and originally contained a price protection feature. In connection with the August 2020 Financing, the exercise price was permanently set to $0.10. The warrants contain a contingent put option if the Company undergoes a subsequent financing that results in a change in control. The warrant holders also have the right to participate in certain subsequent financing transactions on an as-if converted basis. The Company reviewed the warrants for liability or equity classification under the guidance of ASC 480-10, Distinguishing Liabilities from Equity , and concluded that the warrants should be classified as a liability and re-measured to fair value at the end of each reporting period. The Company also reviewed the warrants under ASC 815, Derivatives and Hedging/Contracts in Entity’s Own Equity , and determined that the warrants also meet the definition of a derivative. With the assistance of a third party valuation specialist, the Company valued the warrant liabilities utilizing the Monte Carlo valuation method pursuant to the accounting guidance of ASC 820-10, Fair Value Measurements . Beginning March 31 2021, the Company changed its valuation model for the Emerald Financing Warrant Liability to a Black-Scholes valuation method, as it was determined that a more simplistic model such as the Black-Scholes valuation method yields a substantially similar result as a Monte Carlo simulation due to the Company's current assumptions. The warrant liability is valued at the balance sheet dates using the following assumptions: March 31, December 31, Dividend yield — % — % Volatility factor 103.3 % 126.5 % Risk-free interest rate 1.49 % 0.43 % Expected term (years) 0.88 1.13 Underlying common stock price $ 0.04 $ 0.05

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Multi-Draw Credit Agreement- Related Party The Company’s Debt with Sciences consists of the following: Conversion As of March 31, As of December 31, Total principal value of convertible debt—related party $ 0.40 $ 2,014,500 $ 2,014,500 Unamortized debt discount (333,260) (487,668) Unamortized debt issuance costs (1,499) (1,927) Carrying value of total convertible debt - related party 1,679,741 1,524,905 Total principal value of non-convertible debt—related party n/a 450,000 450,000 Total carrying value of advances under the multi-draw credit agreement $ 2,129,741 $ 1,974,905 On October 5, 2018, the Company entered into the Credit Agreement with Sciences, a related party (See Note 8). On April 29, 2020, the Company entered into the Amended Credit Agreement with Sciences, which amends and restates the Credit Agreement. For all pre-existing and new advances, the Amended Credit Agreement removed the change in control as an event of default. The amendments to the pre-existing advances were accounted for as a modification. On March 29, 2021, the Company amended the Amended Credit Agreement to defer interest payments through the earlier of maturity or prepayment of the principal balance. On September 15, 2021, the Company further amended the Amended Credit Agreement to close the disbursement line. The amendments were considered a modification for accounting purposes. Advances under the Amended Credit Agreement are unsecured, and bear interest at an annual rate of 7% and mature on October 5, 2022. At Sciences’ election, convertible advances and unpaid interest may be converted into common stock at the applicable fixed conversion price of the underlying advance, subject to customary adjustments for stock splits, stock dividends, recapitalizations, etc. The Amended Credit Agreement provides for customary events of default which may result in the acceleration of the maturity of the advances in addition to, but not limited to, cross acceleration to certain other indebtedness of the Company. In the case of an event of default arising from specified events of bankruptcy or insolvency or reorganization, all outstanding advances will become due and payable immediately without further action or notice. If any other event of default under the Amended Credit Agreement occurs or is continuing, Sciences may, by written notice, terminate its commitment to make any advances and/or declare all the advances, including accrued interest, payable due immediately. If any amount under the Amended Credit Agreement is not paid when due, such overdue amount shall bear interest at an annual default interest rate of the applicable rate plus 10%, until such amount is paid in full. In connection with each advance under the Amended Credit Agreement, the Company has agreed to issue to Sciences warrants to purchase shares of common stock in an amount equal to 50% of the number of shares of common stock that each advance may be converted into. The warrants have a term of five years and are immediately exercisable upon issuance. Under the Amended Credit Agreement, Sciences may issue notice that no warrants will be granted at the time of the advance request. The warrants issued under the Credit Agreement have an exercise price of $0.50 per share. The exercise prices are subject to adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events or upon any distributions of assets, including cash, stock or other property to the Company’s stockholders (See Note 3). As of March 31, 2022, the unamortized debt discount on the convertible advances will be amortized over a remaining period of approximately 0.52 years. As of March 31, 2022, the fair value of the shares underlying the convertible advances under the Amended Credit Agreement was $191,378. As of March 31, 2022, the if-converted value did not exceed the principal balance. Insurance premium loan payable On February 28, 2022, the Company entered into an annual financing arrangement for a portion of its Directors and Officers Insurance Policy (the “D&O Insurance”) with Marsh & McLennan in an amount of $275,537. The loan is payable in equal monthly installments of $31,149, matures on October 28, 2022 and bears interest at a rate 4.17% per annum. As of March 31, 2022, a total of $287,017 and $214,307, remains financed in prepaid expenses and loans payable, respectively. Interest Expense The Company’s interest expense consists of the following: Three Months Ended 2022 2021 Related party interest expense – stated rate $ 43,128 $ 43,129 Insurance premium loan payable - stated rate 1,069 — PPP loan interest expense – stated rate — 286 Non-cash interest expense: Amortization of debt discount 154,406 141,097 Amortization of transaction costs 430 393 $ 199,033 $ 184,905

Stockholders' Equity and Capita

Stockholders' Equity and Capitalization	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity and Capitalization	Stockholders’ Equity and Capitalization Warrant Exercises During the three months ended March 31, 2022, 19,666,667 pre-funded warrants with an intrinsic value of $1,178,033 were exercised in exchange for 19,666,667 shares of common stock for gross proceeds of $1,967. Common Stock Issuance On March 2, 2022, the Company released 150,000 shares of common stock to a service provider (Note 6).

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Incentive Plan On October 31, 2014, after the closing of the Merger, the Board of Directors approved the Company’s 2014 Omnibus Incentive Plan (the “2014 Plan”). The share reserve under the 2014 Plan equals 10% of the number of issued and outstanding shares of common stock of the Company on an evergreen basis. In August 2020, the Company approved Amendment No. 2 to the 2014 Plan, which increased the share reserve by an additional 7,876,835 shares over the 10% of the number of issued and outstanding shares of common stock, and removed certain restrictions on the number of shares of common stock and the amount of cash-based awards up to which participants of the 2014 Plan can receive in a calendar year. The 2014 Plan authorizes the issuance of awards including stock options, stock appreciation rights, restricted stock, stock units and performance units to employees, directors, and consultants of the Company. As of March 31, 2022, the Company had 17,154,595 shares available for future grant under the 2014 Plan. Stock Options The following is a summary of option activities under the Company’s 2014 Plan for the three months ended March 31, 2022: Number of Weighted Weighted Aggregate Intrinsic Value Outstanding, December 31, 2021 35,405,000 $ 0.07 9.08 $ 134,750 Granted — — Exercised — — Cancelled (215,000) 0.07 Forfeited (825,000) 0.10 Outstanding, March 31, 2022 34,365,000 $ 0.07 8.82 $ — Exercisable, March 31, 2022 11,331,250 $ 0.08 8.82 $ — Exercisable, Vested and expected to vest, March 31, 2022 34,365,000 $ 0.07 8.82 $ — Restricted Stock Units On December 14, 2021, the Company granted restricted stock units (“RSUs”) to its executive management team. The RSUs cliff vest 33% per year on the anniversary of the grant date over a three year period. As of March 31, 2022, 4,000,000 RSUs with a weighted average grant date fair value of $0.06 per share remain unvested. Awards Granted Outside the 2014 Plan The following is a summary of restricted stock activity outside of the Company’s 2014 Plan during the three months ended March 31, 2022: Number of Weighted Unvested, December 31, 2021 150,000 $ 0.13 Released (150,000) 0.13 Unvested, March 31, 2022 — $ — Stock-Based Compensation Expense The Company recognizes stock-based compensation expense using the straight-line method over the requisite service period. The Company recognized stock-based compensation expense, including compensation expense for RSUs discussed above, in its Condensed Consolidated Statements of Comprehensive Loss as follows: Three Months Ended March 31, 2022 2021 Research and development $ 18,585 $ 74,429 General and administrative 118,773 72,151 $ 137,358 $ 146,580 The total amount of unrecognized compensation cost was $1,428,815 as of March 31, 2022. This amount will be recognized over a weighted average period of 3.00 years.

Significant Contracts - Univers

Significant Contracts - University of Mississippi	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Significant Contracts - University of Mississippi	Significant Contracts - University of Mississippi UM 5050 and UM 8930 License Agreements In July 2018, the Company renewed its ocular licenses for UM 5050 and UM 8930. On May 24, 2019, the ocular delivery licenses were replaced by “all fields of use” licenses for both UM 5050 and UM 8930 (collectively, the “License Agreements”). Pursuant to the License Agreements, UM granted the Company an exclusive, perpetual license, including, with the prior written consent of UM, not to be unreasonably withheld, the right to sublicense, the intellectual property related to UM 5050 and UM 8930 for all fields of use. The License Agreements contain certain milestone payments, royalty and sublicensing fees payable by the Company, as defined therein. Each License Agreement provides for an annual maintenance fee of $75,000 payable on the anniversary of the effective date. The Company made upfront payments for UM 5050 and UM 8930 of $100,000 and $200,000, respectively. In addition, in March 2020, the Company was notified by the United States Patent and Trademark Office, that a notice of allowance was issued for the proprietary analog of cannabidiol, CBDVHS, under the UM 8930 License Agreement. As a result, the Company paid UM a fee of $200,000. The milestone payments payable for each license are as follows: i) $100,000 paid within 30 days following the submission of the first Investigational New Drug (“IND”) application to the Food and Drug Administration or an equivalent application to a regulatory agency anywhere in the world, for a product; ii) $200,000 paid within 30 days following the first submission of a New Drug Application (“NDA”), or an equivalent application to a regulatory agency anywhere in the world, for each product that is administered in a different route of administration from that of the earlier submitted product(s); and iii) $400,000 paid within 30 days following the approval of an NDA, or an equivalent application to a regulatory agency anywhere in the world, for each product that is administered in a different route of administration from that of the early approved product(s). The royalty percentage due on net sales under each License Agreement is in the mid-single digits. The Company must also pay to UM a portion of all licensing fees received from any sublicensees, subject to a minimum royalty on net sales, and the Company is required to reimburse patent costs incurred by UM related to the licensed products. The royalty obligations apply by country and by licensed product, and end upon the later of the date that no valid claim of a licensed patent covers a licensed product in a given country, or ten years after the first commercial sale of such licensed product in such country. Each License Agreement continues, unless terminated, until the later of the expiration of the last to expire of the patents or patent applications within the licensed technology, and the expiration of the Company’s payment obligations under such License Agreement. UM may terminate each License Agreement, by giving written notice of termination, upon the Company’s material breach of such License Agreement, including failure to make payments or satisfy covenants, representations or warranties without cure, noncompliance, a bankruptcy event, the Company’s dissolution or cessation of operations, the Company’s failure to make reasonable efforts to commercialize at least one product or failure to keep at least one product on the market after the first commercial sale for a continuous period of one year, other than for reasons outside the Company’s control, or the Company’s failure to meet certain pre-established development milestones. The Company may terminate each License Agreement upon 60 days’ written notice to UM. As of March 31, 2022, with the exception of the fee due for the notice of patent allowance for CBDVHS, none of the other milestones under these license agreements have been met. UM 5070 License Agreement In January 2017, the Company entered into a license agreement with UM pursuant to which UM granted the Company an exclusive, perpetual license, including the right to sublicense, to intellectual property related to a platform of cannabinoid-based molecules ("UM 5070"), to research, develop and commercialize products for the treatment of infectious diseases. The Company paid UM an upfront license fee of $65,000 under the license agreement. Under the license agreement, the Company is also responsible for annual maintenance fees of $25,000 that will be credited against any royalties incurred, contingent milestone payments upon achievement of development and regulatory milestones, and royalties on net sales of licensed products sold for commercial use. The aggregate milestone payments due under the license agreement if all the milestones are achieved is $700,000 and the royalty percentage due on net sales is in the mid-single digits. The Company must

Related Party Matters

Related Party Matters	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Matters	Related Party Matters Emerald Health Sciences In January 2018, the Company entered into a securities purchase agreement with Sciences pursuant to which Sciences purchased a majority of the equity interest in the Company, resulting in a change in control (the "Emerald Financing"). While Sciences no longer maintains a controlling interest in the Company, it holds a significant equity interest as of March 31, 2022 and has provided the Company with financing under the Amended Credit Agreement (Note 4). On December 19, 2019, the Company entered into an Independent Contractor Services Agreement with Dr. Avtar Dhillon, a member of Sciences Board of Directors and its CEO, pursuant to which Dr. Dhillon provided ongoing corporate finance and strategic business advisory services to the Company. In exchange for his services, Dr. Dhillon received a monthly fee of $10,000, per month for his services. No expenses were incurred under this agreement during the three months ended March 31, 2022. Under this agreement, for the three months ended March 31, 2021, the Company incurred fees of $30,000. On September 14, 2021, Dr. Dhillon provided his notice to terminate the Independent Contractor Services Agreement, with an effective termination date of October 14, 2021. As of October 14, 2021, the Company no longer has any obligations or business relationship with Dr. Dhillon. VivaCell Biotechnology España, S.L.U (formerly known as Emerald Health Biotechnology España, S.L.U.) In January 2021 and April 2021, the Company entered into two separate Collaborative Research Agreements pursuant to a Master Services Agreement with VivaCell Biotechnology España, S.L.U ("VivaCell"), a research and development entity with substantial expertise in cannabinoid science and a subsidiary of Emerald Health Research, Inc. which is 100% owned by Sciences. Under the Collaborative Research Agreements, VivaCell will provide research and development services pursuant to agreed upon project plans for the research and development of SBI-200 and the preclinical development services for novel derivatives. The term of each agreement is initially for a one-year period. The agreements will terminate upon delivery and acceptance of the final deliverables under the project plans or if either party is in breach of the terms of the contract and such breach remains uncured for 45 days. Payment for services are based on the negotiated amounts for the completion of agreed upon objectives as provided in the Collaborative Research Agreements. For the three months ended March 31, 2022 and 2021, the Company incurred $39,018 and $69,600, respectively, in expenses under the Collaborative Research Agreements. As of March 31, 2022 and December 31, 2021, the Company has recognized prepaid asset in the amount of $48,908 and $8,056, respectively, to be offset against future research and development costs under the Collaborative Research Agreements. On October 11, 2021, the Company entered into an Exclusive Sponsored Research Agreement (the “ESRA”) with VivaCell to fund certain research and development programs which are of mutual interest to both the Company and VivaCell. The Company will have the right to use all data, products, and information, including intellectual property which are generated in the performance of the research under each and all projects funded by the Company pursuant to the ESRA, and VivaCell assigns and agrees to assign, to the Company all rights to any intellectual property created or reduced-to-practice under, or as a part of, a project funded by the Company pursuant to the ESRA. The Company has agreed to pay to VivaCell a royalty based on any and all licensing revenue or other consideration paid to the Company by a third-party licensee, assignee or purchaser of intellectual property rights created under the ESRA. In addition, upon a change of control transaction the Company has agreed to pay an amount equal to the royalty percentage multiplied by the fair value of the intellectual property created under the ESRA. Pursuant to the ESRA, VivaCell will provide a budget to be approved by the Company for each project, and the Company will make payments in accordance with the approved budget and pay an annual retainer to VivaCell of $200,000 per year. For the three months ended March 31, 2022, the Company incurred $50,000 in research and development expenses related to the retainer under the ESRA. As of March 31, 2022 and December 31, 2021, the Company has recognized a prepaid expense in the amount of $0 and $5,376, respectively, related to the retainer under the ESRA. The initial term of the agreement is one year, with automatic renewal for successive one-year terms unless either party terminates upon 60 days' prior written notice to the other party pursuant to the ESRA. On March 1, 2022, the Company entered into a research project with VivaCell under the ESRA Agreement for the screening platform for anteroposterior ocular diseases. The project budget is $190,500. For the three months ended March 31, 2022, the Company incurred $16,086 of research and development expenses under the ESRA. Board Members As of March 31, 2022, Jim Heppell and Punit Dhillon are board members of the Company and Emerald Health Pharmaceuticals, Inc., a subsidiary of Sciences. Sciences owns 23% and 48% of the Company and Emerald Health Pharmaceuticals, Inc., respectively. As of March 31, 2022, Jim Heppell is also a board member and the CEO of Sciences. Jim Heppell also served on VivaCell's board until he tendered his resignation on January 10, 2022. The Company’s CEO, Punit Dhillon also served as a board member of Sciences and VivaCell until he tendered his resignation from such boards on August 10, 2020 and September 22, 2021, respectively. Related Party Contractor On February 28, 2022, the Company entered into a standard consulting agreement with the CEO's brother. Compensation under the agreement is for a rate of approximately $78 per hour. The consulting agreement may be terminated by either party upon providing 15 days of advance notice. For the three months ended March 31, 2022, the Company incurred $8,595 of consulting expenses in general and administrative expenses under this agreement.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Office Lease The Company leases office space for its corporate headquarters, located at 11250 El Camino Real, Suite 100 San Diego, California 92130. The lease is effective from September 1, 2021 through October 31, 2023 and contains a renewal option for a two-year extension after the current expiration date. The Company does not expect that the renewal option will be exercised, and has therefore excluded the option from the calculation of the right of use asset and lease liability. The lease provides for two months of rent abatement and the initial monthly rent is $8,067 per month with annual increases of 3% commencing on November 1, 2022. The lease includes non-lease components (i.e., property management costs) that are paid separately from rent, based on actual costs incurred, and therefore were not included in the right-of-use asset and lease liability but are reflected as an expense in the period incurred. In calculating the present value of the lease payments, the Company has elected to utilize its incremental borrowing rate based on the lease term. For the three months ended March 31, 2022, lease expense comprised of $22,675 in lease cost from the Company's non-cancellable operating lease. The remaining lease term and discount rate related to the operating lease are presented in the following table: March 31, 2022 Weighted-average remaining term – operating lease (in years) 1.58 Weighted-average discount rate – operating lease 12 % Future minimum lease payments as of March 31, 2022 are presented in the following table: Year: 2022 (remaining nine months) 73,089 2023 83,093 Total future minimum lease payments: 156,182 Less imputed interest (14,675) Total $ 141,507 Reported as: Operating lease liability $ 85,601 Operating lease liability, net of current portion 55,906 Total lease liability $ 141,507 General Litigation and Disputes From time to time, in the normal course of operations, the Company may be a party to litigation and other dispute matters and claims. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict. An unfavorable outcome to any legal matter, if material, could have a materially adverse effect on the Company’s operations or financial position, liquidity or results of operations. As of March 31, 2022, the Company is party to a legal proceeding with a former employee alleging wrongful termination. While there is a reasonable possibility that a loss may have been incurred, due to the stage of the proceedings as of March 31, 2022, the Company is unable to make an estimate as to the amount of the contingency, as the legal proceeding is in the early stage of discovery. The Company is expensing the legal costs related to this proceeding as incurred.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsWarrants granted to a service providerOn April 1, 2022, the Company granted 2,000,000 warrants to a service provider at an exercise price of $0.04 per share. The warrants vest ratably over one year and expire on April 1, 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying Unaudited Interim Condensed Consolidated Financial Statements have been prepared on a consistent basis with the Company’s Audited Consolidated Financial Statements as of and for the year ended December 31, 2021, and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Condensed Consolidated Financial Statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and therefore, omit certain information and footnote disclosures necessary to present the financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or any future periods. The Condensed Consolidated Balance Sheet as of December 31, 2021 was derived from the Company’s audited financial statements as of December 31, 2021, which are included in the Company’s Annual Report on Form 10-K filed with the SEC on March 28, 2022. The Unaudited Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the Audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which includes a broader discussion of the Company’s business and the risks inherent therein.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries SKYE Bioscience Australia and Nemus Sub. All intercompany accounts and transaction have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates. The most significant accounting estimates inherent in the preparation of the Company’s financial statements include estimates and judgements as to the appropriate carrying values of equity instruments, derivative liabilities, debt with embedded features, and the valuation of stock based compensation awards, which are not readily apparent from other sources.
Risks and Uncertainties	Risks and Uncertainties The Company’s operations are subject to a number of risks and uncertainties, including but not limited to, changes in the general economy, the size and growth of the potential markets for any of the Company’s product candidates, uncertainties related to the impact of COVID-19 (Note 1), results of research and development activities, uncertainties surrounding regulatory developments in the United States, the European Union and Australia, and the Company’s ability to attract new funding.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (the “exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable, and the last is considered unobservable, is used to measure fair value: Level 1: Valuations for assets and liabilities traded in active markets from readily available pricing sources such as quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The carrying values of the Company’s financial instruments, with the exception of the Amended Credit Agreement and derivative liabilities, approximate their fair value due to their short maturities. The derivative liabilities are valued on a recurring basis utilizing Level 3 inputs (Note 3). As of December 31, 2021, the Company estimated that the fair value of the Amended Credit Agreement, including the non-convertible advances was $2,484,768. As of March 31, 2022, the Company estimated that the fair value of the Amended Credit Agreement, including the non-convertible advances was $2,559,549. As of March 31, 2022 and December 31, 2021, the carrying value of the Amended Credit Agreement was $2,129,741 and $1,974,905, respectively. Information pertinent to estimating the fair value of the Amended Credit Agreement includes valuing the embedded conversion feature using Level 3 inputs and considering the discounted cash flows of the interest and principal payments through maturity (Note 4).
Convertible Instruments	Convertible Instruments The Company accounts for hybrid contracts with embedded conversion features in accordance with ASC 815, Derivatives and Hedging Activities (“ASC 815”) which requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The Company accounts for convertible debt instruments with embedded conversion features in accordance with ASC 470-20, Debt with Conversion and Other Options (“ASC 470-20”) if it is determined that the conversion feature should not be bifurcated from their host instruments. Under ASC 470-20, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the difference between the fair value of the underlying common stock at the commitment date and the embedded effective conversion price. When the Company determines that the embedded conversion option should be bifurcated from its host instrument, the embedded feature is accounted for in accordance with ASC 815. Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract is allocated to the fair value of the derivative. The derivative is subsequently recorded at fair value at each reporting date based on current fair value, with the changes in fair value reported in the results of operations. The Company also follows ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”) when evaluating the accounting for its hybrid instruments. A financial instrument that embodies an unconditional obligation, or a financial instrument other than an outstanding share that embodies a conditional obligation, that the issuer must or may settle by issuing a variable number of its equity shares shall be classified as a liability (or an asset in some circumstances) if, at inception, the monetary value of the obligation is based solely or predominantly on any one of the following: (a) a fixed monetary amount known at inception (for example, a payable settled with a variable number of the issuer’s equity shares); (b) variations in something other than the fair value of the issuer’s equity shares (for example, a financial instrument indexed to the Standard and Poor’s S&P 500 Index and settled with a variable number of the issuer’s equity shares); or (c) variations inversely related to changes in the fair value of the issuer’s equity shares (for example, a written put option that could be net share settled). Hybrid instruments meeting these criteria are not further evaluated for any embedded derivatives and are carried as a liability at fair value at each balance sheet date with a re-measurement reported in other expense (income), net in the accompanying Condensed Consolidated Statements of Comprehensive Loss. When determining the short-term vs. long-term classification of derivative liabilities, the Company first evaluates the instruments’ exercise provisions. Generally, if a derivative is a liability and exercisable within one year, it will be classified as short-term. However, because of the unique provisions and circumstances that may impact the accounting for derivative instruments, the Company carefully evaluates all factors that could potentially restrict the instrument from being exercised or create a situation where exercise would be considered remote. The Company re-evaluates its derivative liabilities at each reporting period end and makes updates for any changes in facts and circumstances that may impact classification.
Warrants Issued in Connection with Financings	Warrants Issued in Connection with Financings The Company generally accounts for warrants issued in connection with debt and equity financings as a component of equity, unless the warrants include a conditional obligation to issue a variable number of shares or there is a deemed possibility that the Company may need to settle the warrants in cash. For warrants issued with a conditional obligation to issue a variable number of shares or the deemed possibility of a cash settlement, the Company records the fair value of the warrants as a liability at each balance sheet date and records changes in fair value in other expense (income), net in the Condensed Consolidated Statements of Comprehensive Loss.
Debt Issuance Costs and Interest	Debt Issuance Costs and Interest Discounts related to bifurcated derivatives, freestanding instruments issued in bundled transactions, and issuance costs are recorded as a reduction to the carrying value of the debt and amortized over the life of the debt using the effective interest method. The Company makes changes to the effective interest rate, as necessary, on a prospective basis. For debt facilities that provide for multiple advances, the Company initially defers any issuance costs until the first advance is made and then amortizes the costs over the life of the facility.
Research and Development Expenses and Licensed Technology	Research and Development Expenses and Licensed Technology Research and development costs are expensed when incurred. These costs may consist of external research and development expenses incurred under agreements with third party contract research organizations and investigative sites, third party manufacturing organizations and consultants; license fees; employee-related expenses, which include salaries and benefits for the personnel involved in the Company’s preclinical drug development activities, other expenses and equipment and laboratory supplies.
Stock-Based Compensation Expense	Stock-Based Compensation Expense Stock-based compensation expense is estimated at the grant date based on the fair value of the award, and the fair value is recognized as expense ratably over the vesting period with forfeitures accounted for as they occur. Upon the exercise of stock option awards, the Company's policy is to issue new shares of its common stock. The Company uses the Black-Scholes valuation method for estimating the grant date fair value of stock options using the following assumptions: • Volatility - Expected volatility is estimated using the historical stock price performance over the expected term of the award. • Expected term - The expected term is based on a simplified method which defines the life as the weighted average of the contractual term of the options and the vesting period for each award. • Risk-free rate - The risk-free interest rate for the expected term of the option is based on the average market rate on U.S. Treasury securities in effect during the period in which the awards were granted. • Dividends - The dividend yield assumption is based on the Company’s history and expectation of paying no dividends in the foreseeable future.
Loss Per Common Share	Loss Per Common Share The Company applies ASC No. 260, Earnings per Share
Recent Accounting Pronouncements and Recently Adopted Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity . This ASU amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity and improves and amends the related EPS guidance for both Subtopics. The ASU will be effective for annual reporting periods after December 15, 2023 and interim periods within those annual periods and early adoption is permitted in fiscal periods ending after December 15, 2020. Upon implementation, the Company may use either a modified retrospective or full retrospective method of adoption. The adoption of ASU 2020-06 will impact the way the Company calculates its (loss) earnings per share, result in expanded disclosures around convertible instruments and remove the requirement to assess and record beneficial conversion features. The Company currently plans to adopt the provisions of this ASU on the effective date. However, it reserves the right to early adopt these provisions. Recently Adopted Accounting Pronouncements In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance . The aim of ASU 2021-10 is to increase the transparency of government assistance including the disclosure of (1) the types of assistance, (2) an entity’s accounting for the assistance, and (3) the effect of the assistance on an entity’s financial statements. Diversity currently exists in the recognition, measurement, presentation, and disclosure of government assistance received by business entities because of the lack of specific authoritative guidance in GAAP. The ASU will be effective for annual reporting periods after December 15, 2021, and early adoption is permitted. Upon implementation, the Company may use either a prospective or retrospective method of adoption when adopting the ASU. The adoption of ASU 2021-10 impacts the disclosures related to the rebates that the Company receives from the Australian Taxation Office ("ATO") against research and development activities for its Phase 1 clinical trials in Australia. The Company adopted the provisions of this ASU on the effective date using a prospective adoption method as rebates from the ATO in prior periods were not material to the Company's financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of earnings per share, basic and diluted	The computations of basic and diluted loss per common share are as follows: Three Months Ended 2022 2021 Basic and diluted loss per share: Net loss $ (3,043,399) $ (2,160,517) Weighted average common shares outstanding – basic and diluted 495,823,445 336,883,489 Loss per share - basic and diluted $ (0.01) $ (0.01)
Schedule of outstanding shares of common stock equivalents were excluded from the computation of diluted earnings per share	The following outstanding shares of common stock equivalents were excluded from the computation of diluted loss per share of common stock for the periods presented because including them would have been anti-dilutive: Three Months Ended 2022 2021 Stock options 34,365,000 21,560,000 Common shares underlying convertible debt 5,124,384 5,124,384 Warrants 134,187,225 78,546,668 Unvested restricted stock units 4,000,000 —

Warrants and Derivative Liabi_2

Warrants and Derivative Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]
Schedule of warrants vested and outstanding	Warrants vested and outstanding as of March 31, 2022 are summarized as follows: Source Exercise Term Number of Pre 2015 Common Stock Warrants $ 1.00 10 1,110,000 2015 Common Stock Warrants 5.00 10 100,000 2016 Common Stock Warrants to Service Providers 1.15 10 40,000 2018 Emerald Financing Warrants 0.10 5 3,400,000 Emerald Multi-Draw Credit Agreement Warrants 0.50 5 7,500,000 2019 Common Stock Warrants 0.35 5 8,000,000 2020 Common Stock Warrants to Placement Agent 0.08 5 8,166,667 2021 Inducement Warrants 0.15 5 21,166,667 2021 Inducement Warrants to Placement Agent 0.19 5 1,481,667 2021 Common Stock Warrants 0.09 5 77,777,779 2021 Common Stock Warrants to Placement Agent 0.11 5 5,444,445 Total warrants vested and outstanding as of March 31, 2022 134,187,225
Schedule of the activity of derivative liabilities	The following tables summarize the activity of the derivative liability for the periods indicated: Three Months Ended March 31, 2022 December 31, 2021 Fair Value of Derivative Liability Fair Change in Reclassification March 31, 2022 Fair Value of Derivative Liability Emerald Financing - warrant liability (1) $ 59,732 $ — $ (43,655) $ — $ 16,077 Current balance of derivative liabilities $ 59,732 $ — $ (43,655) $ — $ 16,077 Three Months Ended March 31, 2021 December 31, 2020 Fair Value of Derivative Liability Fair Change in Reclassification March 31, 2021 Fair Value of Derivative Liability Emerald Financing - warrant liability (1) $ 38,567 $ — $ 238,350 $ — $ 276,917 Total derivative liabilities $ 38,567 $ — $ 238,350 $ — $ 276,917
Schedule of input and valuation technique used to value warrant liabilities	The warrant liability is valued at the balance sheet dates using the following assumptions: March 31, December 31, Dividend yield — % — % Volatility factor 103.3 % 126.5 % Risk-free interest rate 1.49 % 0.43 % Expected term (years) 0.88 1.13 Underlying common stock price $ 0.04 $ 0.05

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of debt	The Company’s Debt with Sciences consists of the following: Conversion As of March 31, As of December 31, Total principal value of convertible debt—related party $ 0.40 $ 2,014,500 $ 2,014,500 Unamortized debt discount (333,260) (487,668) Unamortized debt issuance costs (1,499) (1,927) Carrying value of total convertible debt - related party 1,679,741 1,524,905 Total principal value of non-convertible debt—related party n/a 450,000 450,000 Total carrying value of advances under the multi-draw credit agreement $ 2,129,741 $ 1,974,905
Schedule of interest expense	The Company’s interest expense consists of the following: Three Months Ended 2022 2021 Related party interest expense – stated rate $ 43,128 $ 43,129 Insurance premium loan payable - stated rate 1,069 — PPP loan interest expense – stated rate — 286 Non-cash interest expense: Amortization of debt discount 154,406 141,097 Amortization of transaction costs 430 393 $ 199,033 $ 184,905

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of summary of stock option activity	The following is a summary of option activities under the Company’s 2014 Plan for the three months ended March 31, 2022: Number of Weighted Weighted Aggregate Intrinsic Value Outstanding, December 31, 2021 35,405,000 $ 0.07 9.08 $ 134,750 Granted — — Exercised — — Cancelled (215,000) 0.07 Forfeited (825,000) 0.10 Outstanding, March 31, 2022 34,365,000 $ 0.07 8.82 $ — Exercisable, March 31, 2022 11,331,250 $ 0.08 8.82 $ — Exercisable, Vested and expected to vest, March 31, 2022 34,365,000 $ 0.07 8.82 $ —
Schedule of RSA activity	The following is a summary of restricted stock activity outside of the Company’s 2014 Plan during the three months ended March 31, 2022: Number of Weighted Unvested, December 31, 2021 150,000 $ 0.13 Released (150,000) 0.13 Unvested, March 31, 2022 — $ —
Schedule of stock-based compensation expense	The Company recognized stock-based compensation expense, including compensation expense for RSUs discussed above, in its Condensed Consolidated Statements of Comprehensive Loss as follows: Three Months Ended March 31, 2022 2021 Research and development $ 18,585 $ 74,429 General and administrative 118,773 72,151 $ 137,358 $ 146,580

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of lease information	The remaining lease term and discount rate related to the operating lease are presented in the following table: March 31, 2022 Weighted-average remaining term – operating lease (in years) 1.58 Weighted-average discount rate – operating lease 12 % Reported as: Operating lease liability $ 85,601 Operating lease liability, net of current portion 55,906 Total lease liability $ 141,507
Schedule of future minimum lease payments	Future minimum lease payments as of March 31, 2022 are presented in the following table: Year: 2022 (remaining nine months) 73,089 2023 83,093 Total future minimum lease payments: 156,182 Less imputed interest (14,675) Total $ 141,507

Nature of Operations and Busi_2

Nature of Operations and Business Activities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Nature Of Operations And Business Activities [Line Items]
Accumulated deficit	$ 50,299,562		$ 47,256,163
Unrestricted cash	6,006,869	$ 5,152,425	$ 8,983,007
Operating loss	(2,888,021)	(1,737,262)
Net loss	(3,043,399)	$ (2,160,517)
Multi-Draw Credit Agreement
Nature Of Operations And Business Activities [Line Items]
Outstanding principal balance	$ 2,464,500

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Fair value of advance under credit agreement	$ 2,559,549	$ 2,484,768
Costs associated with the use of licensed technologies capitalized to date	0
Multi-Draw Credit Agreement
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Carrying value	$ 2,129,741	$ 1,974,905

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Basic and diluted loss per share:
Net loss	$ (3,043,399)	$ (2,160,517)
Net loss	$ (3,043,399)	$ (2,160,517)
Weighted average common shares outstanding – basic (in shares)	495,823,445	336,883,489
Weighted average common shares outstanding – diluted (in shares)	495,823,445	336,883,489
Loss per share - basic (in dollars per share)	$ (0.01)	$ (0.01)
Loss per share - diluted (in dollars per share)	$ (0.01)	$ (0.01)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Outstanding Shares of Common Stock Equivalents Excluded from Calculation (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive excluded from the calculation of diluted loss per common share (in shares)	34,365,000	21,560,000
Common shares underlying convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive excluded from the calculation of diluted loss per common share (in shares)	5,124,384	5,124,384
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive excluded from the calculation of diluted loss per common share (in shares)	134,187,225	78,546,668
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive excluded from the calculation of diluted loss per common share (in shares)	4,000,000	0

Warrants and Derivative Liabi_3

Warrants and Derivative Liabilities - Schedule of Warrants Vested and Outstanding (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Aug. 31, 2020
Class of Warrant or Right [Line Items]
Number of Warrants Vested and Outstanding (in shares)	134,187,225
Pre 2015 Common Stock Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 1
Term (Years)	10 years
Number of Warrants Vested and Outstanding (in shares)	1,110,000
2015 Common Stock Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 5
Term (Years)	10 years
Number of Warrants Vested and Outstanding (in shares)	100,000
2016 Common Stock Warrants to Service Providers
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 1.15
Term (Years)	10 years
Number of Warrants Vested and Outstanding (in shares)	40,000
2018 Emerald Financing Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.10	$ 0.10
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	3,400,000
Emerald Multi-Draw Credit Agreement Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.50
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	7,500,000
2019 Common Stock Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.35
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	8,000,000
2020 Common Stock Warrants to Placement Agent
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.08
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	8,166,667
2021 Inducement Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.15
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	21,166,667
2021 Inducement Warrants to Placement Agent
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.19
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	1,481,667
2021 Common Stock Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.09
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	77,777,779
2021 Common Stock Warrants to Placement Agent
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.11
Term (Years)	5 years
Number of Warrants Vested and Outstanding (in shares)	5,444,445

Warrants and Derivative Liabi_4

Warrants and Derivative Liabilities - Schedule of Derivative Liability Activity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Of Derivative Liabilities [Roll Forward]
Fair Value of Derivative Liabilities, beginning	$ 59,732	$ 38,567
Fair Value of Derivative Liability	0	0
Change in Fair Value of Derivative Liability	(43,655)	238,350
Reclassification of Derivative to Equity	0	0
Fair Value of Derivative Liabilities, ending	16,077	276,917
Emerald Financing - warrant liability
Fair Value Of Derivative Liabilities [Roll Forward]
Fair Value of Derivative Liabilities, beginning	59,732	38,567
Fair Value of Derivative Liability	0	0
Change in Fair Value of Derivative Liability	(43,655)	238,350
Reclassification of Derivative to Equity	0	0
Fair Value of Derivative Liabilities, ending	$ 16,077	$ 276,917

Warrants and Derivative Liabi_5

Warrants and Derivative Liabilities - Narrative (Details) - $ / shares	Mar. 31, 2022	Aug. 31, 2020
2018 Emerald Financing Warrants
Class of Warrant or Right [Line Items]
Exercise price (in dollars per share)	$ 0.10	$ 0.10

Warrants and Derivative Liabi_6

Warrants and Derivative Liabilities - Schedule of Input and Valuation Technique Used to Value Warrant Liabilities (Details) - 2018 Emerald Financing Warrants	Mar. 31, 2022$ / shares	Dec. 31, 2021$ / shares
Class of Warrant or Right [Line Items]
Underlying common stock price (in dollars per share)	$ 0.04	$ 0.05
Dividend yield
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0	0
Volatility factor
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	1.033	1.265
Risk-free interest rate
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0.0149	0.0043
Expected term (years)
Class of Warrant or Right [Line Items]
Expected term (years)	10 months 17 days	1 year 1 month 17 days

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - Multi-Draw Credit Agreement - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total principal value of convertible debt—related party	$ 2,464,500
Total carrying value of advances under the multi-draw credit agreement	$ 2,129,741	$ 1,974,905
Convertible debt
Debt Instrument [Line Items]
Conversion Price (in dollars per share)	$ 0.40
Total principal value of convertible debt—related party	$ 2,014,500	2,014,500
Unamortized debt discount	(333,260)	(487,668)
Unamortized debt issuance costs	(1,499)	(1,927)
Total carrying value of advances under the multi-draw credit agreement	1,679,741	1,524,905
Non-convertible debt
Debt Instrument [Line Items]
Total carrying value of advances under the multi-draw credit agreement	$ 450,000	$ 450,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Feb. 28, 2022	Sep. 15, 2021	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Prepaid expenses			$ 822,541	$ 554,217
Insurance premium loan payable			214,307	$ 0
Insurance Premium Loan Payable | Loans Payable
Debt Instrument [Line Items]
Debt, face amount	$ 275,537
Monthly installment amount	$ 31,149
Interest rate (percent)	4.17%
Prepaid expenses			287,017
Insurance premium loan payable			$ 214,307
Multi-Draw Credit Agreement
Debt Instrument [Line Items]
Interest rate percentage (percent)		7.00%
Debt default interest rate spread (percent)		10.00%
Warrant coverage on the debt facility (percent)		50.00%
Term of warrant (in years)		5 years
Warrant exercise price (in dollars per share)		$ 0.50
Unamortized debt discount period (in years)			6 months 7 days
Fair value of shares underlying convertible debt			$ 191,378

Debt - Schedule of interest exp

Debt - Schedule of interest expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
Related party interest expense – stated rate	$ 43,128	$ 43,129
Insurance premium loan payable - stated rate	1,069	0
PPP loan interest expense – stated rate	0	286
Non-cash interest expense:
Amortization of debt discount	154,406	141,097
Amortization of transaction costs	430	393
Interest expense	$ 199,033	$ 184,905

Stockholders' Equity and Capi_2

Stockholders' Equity and Capitalization (Details) - USD ($)	Mar. 02, 2022	Mar. 31, 2022	Mar. 31, 2021
Equity [Line Items]
Common stock issued for services (in shares)	150,000
Prefunded Warrants
Equity [Line Items]
Exercise warrant (in shares)		19,666,667
Intrinsic value of warrant exercises		$ 1,178,033
Proceeds from warrant exercises		$ 1,967	$ 11,800
Prefunded Warrants | Common Stock
Equity [Line Items]
Exercise warrant (in shares)		19,666,667	11,800,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	Dec. 14, 2021	Oct. 31, 2014	Aug. 30, 2020	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total amount of unrecognized compensation cost				$ 1,428,815
Recognized weighted average period (in years)				3 years
Omnibus Incentive Plan 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of share reserve of the number of issued and outstanding shares (percent)		10.00%	10.00%
Number of additional shares reserved for future grants (in shares)			7,876,835
Number of shares reserved for future grants (in shares)				17,154,595
Omnibus Incentive Plan 2014 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued percentage	33.00%
Vesting period	3 years
Granted (in shares)				4,000,000
Weighted-average fair value of stock options granted (in dollars per share)				$ 0.06

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Number of Shares
Balance at the beginning (in shares)	35,405,000
Granted (in shares)	0
Exercised (in shares)	0
Cancelled (in shares)	(215,000)
Forfeited (in shares)	(825,000)
Balance at the ending (in shares)	34,365,000	35,405,000
Exercisable (in shares)	11,331,250
Exercisable, Vested and expected to vest (in shares)	34,365,000
Weighted Average Exercise Price
Balance outstanding (in dollars per share)	$ 0.07	$ 0.07
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Cancelled (in dollars per share)	0.07
Forfeited (in dollars per share)	0.10
Exercisable (in dollars per share)	0.08
Exercisable, Vested and expected to vest (in dollars per share)	$ 0.07
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual term	8 years 9 months 25 days	9 years 29 days
Weighted average remaining contractual term, exercisable	8 years 9 months 25 days
Weighted average remaining contractual term, vested and expected to vest	8 years 9 months 25 days
Aggregate Intrinsic Value	$ 0	$ 134,750
Aggregate Intrinsic Value, Exercisable	0
Aggregate Intrinsic Value, Exercisable, Vested and expected to vest	$ 0

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Stock Activity (Details) - Restricted Stock	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Unvested, beginning balance (in shares) | shares	150,000
Released (in shares) | shares	(150,000)
Unvested, ending balance (in shares) | shares	0
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 0.13
Released (in dollars per share) | $ / shares	0.13
Unvested, ending balance (in dollars per share) | $ / shares	$ 0

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 137,358	$ 146,580
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	18,585	74,429
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 118,773	$ 72,151

Significant Contracts - Unive_2

Significant Contracts - University of Mississippi (Details) - University Of Mississippi $ in Thousands	May 24, 2019USD ($)	Mar. 31, 2020USD ($)	Jul. 31, 2018	Jan. 31, 2017USD ($)	Mar. 31, 2022milestone
Um 5050 Pro-Drug And Um 8930 Analog Agreements
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Annual maintenance fee payable	$ 75
Term of agreement			1 year
Royalty obligation, expiration term (years)			10 years
Notice period for termination			60 days
Number of milestones met | milestone					0
Um 5050 Pro-Drug And Um 8930 Analog Agreements | Milestone 1
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate milestone payments if milestones achieved	$ 100
Term of agreement	30 days
Um 5050 Pro-Drug And Um 8930 Analog Agreements | Milestone 2
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate milestone payments if milestones achieved	$ 200
Term of agreement	30 days
Um 5050 Pro-Drug And Um 8930 Analog Agreements | Milestone 3
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Aggregate milestone payments if milestones achieved	$ 400
Term of agreement	30 days
UM 5050 pro-drug agreements
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment for upfront fees	$ 100
UM 8930 analogue agreements
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment for upfront fees	$ 200
Annual fees for license agreement		$ 200
UM 5070 license agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Annual maintenance fee payable				$ 25
Annual fees for license agreement				65
Aggregate milestone payments if milestones achieved				$ 700
Royalty obligation, expiration term (years)				10 years
Number of milestones met | milestone					0

Related Party Matters (Details)

Related Party Matters (Details)	Mar. 01, 2022USD ($)	Feb. 28, 2022USD ($)	Oct. 11, 2021USD ($)	Dec. 19, 2019USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Apr. 30, 2021agreement	Dec. 31, 2021USD ($)
Related Party Transaction [Line Items]
Prepaid expenses - related party					$ 48,908			$ 13,432
Research and development expense					1,265,653	$ 609,656
Exclusive Sponsored Research Agreement | EHBE
Related Party Transaction [Line Items]
Initial term of research agreement (years)			1 year
Prepaid expenses - related party					0			5,376
Annual retainer amount			$ 200,000
Research and development expense					50,000
Renewal term of research agreement			1 year
Notice period for termination			60 days
ESRA Agreement, Screening Platform For Anteroposterior Ocular Diseases
Related Party Transaction [Line Items]
Research and development expense					16,086
ESRA Agreement, Screening Platform For Anteroposterior Ocular Diseases | EHBE
Related Party Transaction [Line Items]
Annual retainer amount	$ 190,500
Dr. Avtar Dhillon | Independent Contractor Agreement
Related Party Transaction [Line Items]
Fees incurred under agreement					30,000
Accrued expense under agreement					39,018			69,600
Prepaid expenses - related party					48,908			$ 8,056
Dr. Avtar Dhillon | Independent Contractor Services Agreement
Related Party Transaction [Line Items]
Monthly fee				$ 10,000
Related party expenses					0
Fees incurred under agreement					$ 8,595
Emerald Health Biotechnology Espana, S.L.U. | Collaborative Research Agreement
Related Party Transaction [Line Items]
Number of collaborative research agreements | agreement							2
Initial term of research agreement (years)							1 year
Termination terms, period following uncured breach (days)							45 days
Emerald Health Biotechnology Espana, S.L.U. | Collaborative Research Agreement | Emerald Health Research, Inc
Related Party Transaction [Line Items]
Ownership percentage (percent)							100.00%
Emerald Health Pharmaceuticals, Inc. | Sciences | Jim Heppell
Related Party Transaction [Line Items]
Ownership percentage (percent)					23.00%
Emerald Health Pharmaceuticals, Inc. | Sciences | Punit Dhillon
Related Party Transaction [Line Items]
Ownership percentage (percent)					48.00%
Immediate Family Member of Management or Principal Owner | Consulting Agreement
Related Party Transaction [Line Items]
Annual rate per hour		$ 78
Termination notice period		15 days

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) - USD ($)	Sep. 01, 2021	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Renewal option term	2 years
Rent abatement term	2 months
Initial monthly rent	$ 8,067
Annual rent increase percentage	3.00%
Lease expense		$ 22,675

Commitment and Contingencies _2

Commitment and Contingencies - Weighted Average Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining term – operating lease (in years)	1 year 6 months 29 days
Weighted-average discount rate – operating lease	12.00%

Commitment and Contingencies _3

Commitment and Contingencies - Schedule of Future Minimum Lease Payments (Details)	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022 (remaining nine months)	$ 73,089
2023	83,093
Total future minimum lease payments:	156,182
Less imputed interest	(14,675)
Total	$ 141,507

Commitment and Contingencies _4

Commitment and Contingencies - Current and Noncurrent Portions of Operating Lease (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease liability	$ 85,601	$ 82,372
Operating lease liability, net of current portion	55,906	$ 78,700
Total lease liability	$ 141,507

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Warrants Granted To Service Provider	Apr. 01, 2022$ / sharesshares
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares) | shares	2,000,000
Exercise price (in dollars per share) | $ / shares	$ 0.04
Term of warrant (in years)	1 year

Uncategorized Items - skye-2022

Label	Element	Value
Financing Of Insurance Premium	skye_FinancingOfInsurancePremium	$ 275,537