Major Investor Commits $30M To Psychedelics Funding
Portfolio Pulse from Lara Goldstein
Cybin Inc. (NYSE:CYBN) has entered into a common share purchase agreement with institutional investor Lincoln Park Capital Fund (LPC) for the sale of up to $30 million of its common shares within a 36-month period. The equity facility will allow Cybin to strengthen its cash position and advance its drug development programs.

May 31, 2023 | 5:10 pm
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Cybin Inc. enters a $30M common share purchase agreement with Lincoln Park Capital Fund, providing additional capital to advance its drug development programs.
The $30 million common share purchase agreement with Lincoln Park Capital Fund will provide Cybin with additional capital to strengthen its cash position and advance its drug development programs. This news is directly related to Cybin and is likely to have a positive impact on its stock price in the short term, as it demonstrates the company's ability to secure funding and continue its growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100