Cybin Q2 Net Loss C$11.9M Versus C$10M YoY; Cash At Hand C$18.1M
Portfolio Pulse from Benzinga Newsdesk
Cybin Inc. reported a Q2 net loss of C$11.9 million, compared to a net loss of C$10 million in the same quarter last year. The company has C$18.1 million in cash on hand.
November 15, 2023 | 7:11 am
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NEGATIVE IMPACT
Cybin Inc. experienced a larger net loss in Q2 compared to the previous year, indicating increased expenses or lower revenues. However, the company still has a significant cash reserve.
The reported increase in net loss may concern investors and could lead to a negative short-term impact on the stock price. The cash on hand provides some cushion, but the widening loss is the primary focus.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100