Streetbeat News

CYBN

Cybin Inc.

https://www.cybin.com

Industry

Biotechnology

Cybin Inc., a biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine for treating anxiety disorders; and CYB005, a phenethylamine derivative to treat neuroinflammation. It has also developed EMBARK, a psychedelic-assisted psychotherapy. The company is headquartered in Toronto, Canada.

Open

7.42

Mkt cap

159M

Volume

183K

High

7.67

P/E Ratio

-2.19

52-wk high

17.86

Low

7.32

Div yield

N/A

52-wk low

6.50

The U.S. Patent and Trademark Office has granted a new patent to Cybin Inc. (NYSE:CYBN) for the composition of matter of deuterated 5-MeO-DMT analogs and their pharmaceutical compositions. This strengthens Cybin's position in the development of therapeutics for mental health conditions. The company's CEO, Doug Drysdale, sees this as a timely development considering their upcoming merger with Small Pharma (OTC:DMTTF). The combined intellectual property of the two companies will provide an opportunity to develop novel therapeutics for patients in need of improved treatment options.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 6:48 pm

Several mergers and acquisitions have been announced in the psychedelics sector. Cybin (NYSE:CYBN) is acquiring Small Pharma (OTC:DMTTF), Silo Wellness (OTC:SILFF) is buying NUGL Inc./Kaya Group (OTC:NUGL), and Mindset Pharma (OTC:MSSTF) is being acquired by Otsuka America Inc., part of Otsuka Holdings (OTC:OTSKF). Additionally, Psyched Wellness (OTC:PSYCF) is set to receive $7.5M in financing. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has seen a slight increase in its share price.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 2:08 pm

Cybin Inc. (NYSE:CYBN), a clinical-stage biopharmaceutical company, has been granted a US patent for deuterated tryptamine compounds and pharmaceutical compositions thereof, with exclusivity until 2041. The patent covers deuterated 5-methoxy-dimethyltryptamine analogs in the company's pre-clinical deuterated tryptamine portfolio and strengthens Cybin's position in the development of potential therapeutics for the treatment of mental health conditions.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 11:31 am

Cybin (AMEX:CYBN) has received 11 analyst ratings in the last quarter, with 7 being bullish, 4 somewhat bullish, and none being indifferent, somewhat bearish, or bearish. The average 12-month price target for Cybin is $5.64, a 13.23% decrease from the previous average price target of $6.50.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 4:00 pm

Canaccord Genuity analyst Sumant Kulkarni has reiterated a 'Buy' rating on Cybin (AMEX:CYBN) and maintained a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 2:33 pm

Mindset Pharma (OTC:MSSTF) has agreed to acquire all outstanding shares of Otsuka America Inc., the U.S. arm of Otsuka Pharmaceutical Co., for approximately $60 million. The transaction is expected to close on or around October 19, 2023. This acquisition follows Mindset's partnership with Otsuka’s McQuade Center for Strategic Research and Development (MSRD) in January 2022. The deal is seen as a way to maximize Mindset’s IP portfolio and assets value.

Portfolio Pulse from Lara Goldstein

August 31, 2023 | 5:54 pm

A recent study published in the Journal of the American Medical Association suggests that a single dose of psilocybin, a psychedelic compound produced by certain types of mushrooms, may have lasting benefits for people with major depressive disorder. The study adds to the growing body of evidence supporting the potential efficacy of psilocybin for depression treatment.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 3:08 pm

Oppenheimer analyst Francois Brisebois has reiterated his 'Outperform' rating on Cybin (AMEX:CYBN) and maintained a $4 price target.

Portfolio Pulse from richadhand@benzinga.com

August 30, 2023 | 11:47 am

Silo Wellness (OTCQB:SILFF) plans to acquire all securities of NUGL Inc./Kaya Group (OTC:NUGL) for $31.9 million. This follows Cybin's (NYSE:CYBN) proposed acquisition of Small Pharma (OTC:DMTTF). The acquisition will involve Silo acquiring 100% of NUGL’s shares in exchange for 2.01 million treasury shares. Silo will also issue common shares within a private placement financing to cover transaction costs and provide additional capital for strategic growth post-merger.

Portfolio Pulse from Lara Goldstein

August 29, 2023 | 6:31 pm

HC Wainwright & Co. analyst Patrick Trucchio has reiterated a 'Buy' rating on Cybin (AMEX:CYBN) and maintained a $10 price target.

Portfolio Pulse from richadhand@benzinga.com

August 29, 2023 | 3:24 pm

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