Psyched: Millions From Institutional Investor And Fed Funding For Research, M&As, Women Veterans And More
Portfolio Pulse from Lara Goldstein
Cybin Inc. (NYSE:CYBN) has entered into a common share purchase agreement with institutional investor Lincoln Park Capital Fund for the sale of up to $30 million of its common shares. Reunion Neuroscience (NASDAQ:REUN) is set to enter an acquisition agreement with MPM BioImpact for $13.1 million. Incannex Healthcare (NASDAQ:IXHL) adds psychedelics experts to its new Australian clinical venture. AdvisorShares Psychedelics ETF (NYSE:PSIL) shows a consistent upward trend.
June 06, 2023 | 2:57 pm
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Cybin Inc. secures $30 million funding from Lincoln Park Capital Fund, strengthening its cash position and advancing drug development programs.
The $30 million funding from Lincoln Park Capital Fund will allow Cybin Inc. to strengthen its cash position and advance its drug development programs. This is a positive development for the company and is likely to have a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Incannex Healthcare adds psychedelics experts to its new Australian clinical venture.
Incannex Healthcare's addition of psychedelics experts to its new Australian clinical venture is a positive development for the company. This expansion could potentially enhance the company's research capabilities and market position, which may have a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
AdvisorShares Psychedelics ETF (NYSE:PSIL) shows a consistent upward trend.
The consistent upward trend of the AdvisorShares Psychedelics ETF (NYSE:PSIL) indicates growing investor interest in the psychedelics sector. This trend is likely to have a positive short-term impact on the ETF's price.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100
POSITIVE IMPACT
Reunion Neuroscience is set to enter an acquisition agreement with MPM BioImpact for $13.1 million.
Reunion Neuroscience's acquisition of MPM BioImpact for $13.1 million is a significant development for the company. This acquisition could potentially expand the company's portfolio and capabilities, which may have a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100