Cybin's Phase 2 Results Boost Psychedelic-Based Mental Health Treatments
Portfolio Pulse from Benzinga Newsdesk
Cybin Inc. (NYSE:CYBN) reported positive Phase 2 results for its CYB003 deuterated psilocybin analog program for treating major depressive disorder (MDD), with a 79% remission rate at six weeks after two doses. The results show significant improvements over current SSRIs and other psychedelics, with plans to initiate a Phase 3 trial in early 2024. Cybin also plans to start a Phase 2 trial for CYB004 in generalized anxiety disorder (GAD) and has patents protecting its compounds until at least 2041.
January 04, 2024 | 12:35 pm
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Cybin Inc. reported strong Phase 2 results for CYB003, with a high remission rate and significant improvements over SSRIs, indicating potential for CYB003 as a breakthrough treatment for MDD. The company is preparing for Phase 3 trials and has a robust patent portfolio.
The positive Phase 2 results for CYB003 suggest a high potential for the drug to become a significant player in the MDD treatment market. The upcoming Phase 3 trials and the strong patent protection until at least 2041 provide a competitive edge. The news is likely to be received positively by investors, potentially leading to a short-term increase in stock price.
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