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

Oregon's pioneering psilocybin industry is struggling to attract customers a year after its launch. Despite the initial excitement, the industry faces challenges such as regulatory hurdles, marketing restrictions, and competition. Some service centers have already closed, and more may follow. Entrepreneurs and facilitators are working to raise awareness and adapt to the competitive market.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:07 pm

FDA advisors rejected MDMA for PTSD treatment, causing a significant drop in psychedelic stocks. Cybin Inc (CYBN), Mind Medicine (MNMD), ATAI Life Sciences (ATAI), and AdvisorShares Psychedelics ETF (PSIL) all saw declines. The ruling is a setback for the industry, though the FDA is not bound by the advisory board's recommendation.

Portfolio Pulse from Aaron Bry

June 05, 2024 | 7:26 pm

Shares of psychedelics companies are trading lower after an FDA panel rejected the approval of MDMA therapy for PTSD.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 12:26 pm

HC Wainwright & Co. has reiterated its Buy rating on Cybin (AMEX:CYBN) and maintained a $5 price target, as stated by analyst Patrick Trucchio.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 5:09 pm

Kaya Holdings Inc. (OTCQB:KAYS), a Florida-based cannabis company, has been granted a license by the Oregon Health Authority to operate a Psilocybin Service Center named The Sacred Mushroom in Oregon. This center, under its subsidiary Fifth Dimension Therapeutics, Inc., aims to provide psilocybin treatment in a unique setting, expecting to welcome its first guests within the next thirty days. The move is seen as a significant step in the mental health sector, with KAYS aiming to become a leader in psychedelic care delivery. Other companies like Compass Pathways (NASDAQ:CMPS), ATAI Life Sciences (NASDAQ:ATAI), and Cybin (AMEX:CYBN) are developing synthetic psilocybin for treatment-resistant mental health disorders, expected to be administered in centers like The Sacred Mushroom.

Portfolio Pulse from Nina Zdinjak

May 09, 2024 | 1:29 pm

Cybin Inc. (CYBN) announced updates on its clinical programs, including the expected initiation of a Phase 3 study for CYB003 in MDD by mid-2024 and Phase 2 results for CYB004 in GAD by Q4 2024. The company secured a $150 million funding round and received FDA Breakthrough Therapy Designation for CYB003. CYB003 showed promising Phase 2 results in MDD treatment, and CYB004 is in development for GAD, with a Phase 2 study underway. Cybin's intellectual property portfolio includes over 50 granted patents and 170 pending applications related to psychedelic-based treatments.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:42 pm

Cybin announced the grant of an additional US patent supporting its CYB003 program for Major Depressive Disorder, potentially strengthening its intellectual property and therapeutic offering.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:35 am

The article provides a comprehensive roundup of recent developments in the psychedelics sector, highlighting research findings, regulatory updates, and industry movements. Key highlights include the launch of Usona Institute's Phase 3 clinical trial on psilocybin for Major Depressive Disorder, partnerships for psilocybin research, and significant corporate changes within companies like Compass Pathways and Cybin. Additionally, several companies announced progress in clinical trials, patent approvals, and expansions in product distribution.

Portfolio Pulse from Lara Goldstein

March 30, 2024 | 12:57 pm

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

Cybin Inc. announced a positive End-of-Phase 2 meeting with the FDA for CYB003, a deuterated psilocybin analog for treating Major Depressive Disorder. The company is now preparing for a Phase 3 program.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 11:32 am

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