Cybin Receives FDA Breakthrough Therapy Designation For Its Novel Psychedelic Molecule CYB003 And Announces Positive Four-Month Durability Data In Major Depressive Disorder
Portfolio Pulse from Benzinga Newsdesk
Cybin announced that it has received FDA Breakthrough Therapy Designation for its novel psychedelic molecule, CYB003, aimed at treating Major Depressive Disorder (MDD). Additionally, the company shared positive four-month durability data for CYB003 in MDD, indicating sustained efficacy over time.
March 13, 2024 | 10:01 am
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Cybin receives FDA Breakthrough Therapy Designation for CYB003, showing positive durability in treating Major Depressive Disorder.
Receiving FDA Breakthrough Therapy Designation is a significant milestone for Cybin, likely to accelerate the development and review process of CYB003. The positive durability data further supports the molecule's efficacy and safety profile, potentially increasing investor confidence and interest in Cybin's stock. This news could lead to a short-term positive impact on Cybin's stock price as it highlights the company's progress in developing a novel treatment for Major Depressive Disorder.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100