Cybin Reports Q4 Net Loss Narrows To $10.1341M
Portfolio Pulse from Benzinga Newsdesk
Cybin reported a narrowed Q4 net loss of $10.1341 million. Under the previously announced $35 million ATM equity program, Cybin has the potential to issue and sell up to an additional $22 million of common shares, providing access to additional cash for growth opportunities and working capital.
June 27, 2023 | 9:03 pm
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POSITIVE IMPACT
Cybin's Q4 net loss has narrowed and it has the potential to raise additional capital through its ATM equity program. This could provide the company with more resources for growth and working capital.
The news of a narrowed net loss is positive as it indicates improved financial performance. Additionally, the potential to raise more capital through the ATM equity program could provide Cybin with more resources for growth and working capital, which could be beneficial for the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100