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

11.82

Mkt cap

232M

Volume

2.1M

High

12.95

P/E Ratio

-2.14

52-wk high

21.66

Low

11.30

Div yield

N/A

52-wk low

6.50

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

Cantor Fitzgerald analyst Charles Duncan has reiterated an Overweight rating on Cybin (AMEX:CYBN) and maintained a $3 price target.

Portfolio Pulse from richadhand@benzinga.com

August 29, 2023 | 2:25 pm

Several studies and trials are set to assess the use of psilocybin-assisted therapy for various addictions and pain management. Former NHL player Kyle Quincey is building a psilocybin-assisted therapy center in Colorado. GH Research, Cybin, Enveric Biosciences, Red Light Holland, Incannex Healthcare, and Sunstone Therapies have made significant advancements in their respective programs. The AdvisorShares Psychedelics ETF has seen a consistent lowering trend in its price. GH Research, COMPASS Pathways, Mind Medicine, Bright Minds Biosciences, Enveric Biosciences, Silo Pharma, atai Life Sciences, Incannex Healthcare, FSD Pharma, and Seelos Therapeutics saw varied closing prices.

Portfolio Pulse from Lara Goldstein

August 28, 2023 | 8:07 pm

Cybin (NYSE:CYBN) has announced its acquisition of UK-based Small Pharma (OTCQB:DMTTF). The deal has been approved by both companies' boards and will next face Cybin’s shareholders meeting on October 12. Small Pharma shareholders will receive 0.2409 Cybin common shares per each common share held. Post-acquisition, Cybin shareholders and Small Pharma security holders would own approximately 74.5% and 25.5% of Cybin, respectively. The combined company will continue to trade on NYSE and Cboe Canada under the ticker “CYBN”. The acquisition is expected to create a market leader in psychedelic therapeutics.

Portfolio Pulse from Lara Goldstein

August 28, 2023 | 5:38 pm

Cybin Inc. (NYSE:CYBN) is set to acquire Small Pharma Inc. (TSXV:DMT) (OTCQB:DMTTF) in an all-share transaction. Small Pharma shareholders will receive 0.2409 common shares in Cybin for each Small Pharma share held, implying a consideration of approximately $0.10 per Small Pharma share. The combined entity will hold the most extensive intellectual property portfolio in the psychedelic drug development sector, with 28 granted patents and 158 pending. The acquisition is expected to close in late October 2023.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:52 pm

Trading of Cybin shares has been temporarily halted due to pending news.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 1:23 pm

Psychedelics biotech Cybin Inc. (NYSE:CYBN) has renewed its at-the-market (ATM) equity program, allowing the company to issue and sell up to $35 million in common shares to the public. The program will be effective until all allowed shares are issued and sold or until Sept. 17, 2025. Cybin intends to use the net proceeds from these sales for growth opportunities and working capital.

Portfolio Pulse from Lara Goldstein

August 24, 2023 | 7:49 pm

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