Cybin Reports Access To $101M To Sustain Deuterated Psychedelics Programs, Q2 Numbers & 2024 Goals
Portfolio Pulse from Lara Goldstein
Cybin Inc. (NYSE:CYBN), a clinical-stage biotech company, reported its Q2 financial results, showing a cash balance of $13.25 million and increased R&D expenses. The company has access to over $101 million, including proceeds from share issuances and an ATM equity program. Cybin has made progress in its psychedelics programs, with positive interim data for CYB003 in MDD, acquisition of Small Pharma Inc., and additional patent acquisitions. Upcoming milestones include Phase 2 data readouts, FDA submissions, and initiation of Phase 3 trials.
November 15, 2023 | 8:38 pm
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Cybin Inc. reported increased R&D expenses, a stable cash position, and access to significant funding. The company has positive data from its psychedelics programs and is advancing towards Phase 3 trials.
The positive financial results and progress in clinical programs suggest a positive outlook for Cybin Inc. The access to over $101 million in funding and the advancement of their clinical programs, including the acquisition of Small Pharma Inc., are likely to be viewed favorably by investors. The upcoming milestones and positive data from trials could potentially lead to increased investor confidence and a rise in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100