Cybin's FY2023 Financials, Guidance And Appointment Of Sanford R. Climan As Strategic Advisor
Portfolio Pulse from Lara Goldstein
Cybin Inc. (NYSE:CYBN) reported its FY2023 financial results, showing a net loss of $35.6 million, down from $51.0 million in FY2022. The company also announced new financing options, including issuing and selling up to an additional $22 million in common shares. Cybin has made significant progress in its two lead clinical programs, CYB003 and CYB004, and expects to submit CYB003’s Phase 1/2a Major Depressive Disorder data to the FDA in Q4. The company also announced the appointment of Sanford R. Climan as a strategic advisor.
June 28, 2023 | 6:34 pm
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POSITIVE IMPACT
Cybin Inc. reported reduced net loss in FY2023 and announced new financing options. Progress in clinical programs and appointment of a new strategic advisor could potentially boost investor confidence.
Cybin's reduced net loss indicates improved financial health. The new financing options could provide additional capital for growth. Progress in clinical programs suggests potential future revenue streams. The appointment of a strategic advisor with extensive industry experience could provide valuable insights for the company's growth strategy.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100