5AM Partners VII, LLC (DIEKMAN JOHN D, PARMAR KUSH) sold $240K of SKYE (indirect holdings)
5AM Partners VII, LLC sold 148,079 indirectly-held shares of Skye Bioscience, Inc. (SKYE) at an average of $1.62 ($1.61–$1.65, $0.24M total) across 4 trades over 2026-09-22 to 2026-09-23. Filed jointly with 5AM Ventures VII, L.P. (10% owner), 5AM Partners II, LLC (10% owner), 5AM Ventures II LP (10% owner), 5AM CO-INVESTORS II LP (10% owner), DIEKMAN JOHN D (10% owner), PARMAR KUSH (10% owner) and ROCKLAGE SCOTT M (10% owner).
How this was made
The 30-second read
Why it matters
The filing provides the first public notice of the insider's complete exit from SKYE.
Market read
Primary disclosure of a micro‑cap insider sell‑off; modest trading relevance.
What to watch
Potential upcoming clinical data or financing events not disclosed in the filing.
Background
SEC Form 4 filing discloses insider transactions for public companies.
Ticker impact
5AM Partners VII sold 148,079 shares of Skye Bioscience for $239,555, reducing its stake to zero.
Possible short-term price decline as market absorbs the insider sell-off.
Insider sales of sizable blocks often lead to downward pressure, especially for micro‑caps with limited liquidity.
Market effects
Minimal impact on biotech sector; isolated insider transaction.
No broader regional effect.
Limited to investors in SKYE.
Counterpoint
The sale could be a routine portfolio rebalancing rather than a negative signal.
Key entities
- companySkye Bioscience, Inc.
Biotech firm listed on NASDAQ under ticker SKYE.
- insider5AM Partners VII, LLC
Investment vehicle holding a 10% stake in SKYE.