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

Cybin Inc. (NYSE:CYBN) received FDA Breakthrough Therapy designation for CYB003, a psilocybin analog for Major Depressive Disorder (MDD), following positive Phase 2 results. This marks a significant step in psychedelic-based treatments for mental health, alongside similar designations for MindMed's LSD-derived treatment and Compass Pathways' psilocybin therapy. Cybin also announced a $150M private placement to fund Phase 3 development of CYB003.

Portfolio Pulse from Lara Goldstein

March 13, 2024 | 3:33 pm

HC Wainwright & Co. analyst Patrick Trucchio has maintained a Buy rating on Cybin (AMEX:CYBN) with a price target of $5. This reaffirms the firm's positive outlook on the company.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:32 pm

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.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 10:01 am

Clinical trials show psilocybin-assisted therapy's potential for treating Generalized Anxiety Disorder. Incannex Healthcare (NASDAQ:IXHL) conducted the Phase 2 study. Enveric Biosciences (NASDAQ:ENVB) announced non-binding deals to license drug compounds for mental health treatments. Compass Pathways (NASDAQ:CMPS), GH Research (NASDAQ:GHRS), MindMed (NASDAQ:MNMD), and other companies reported financial results and business updates. AdvisorShares Psychedelics ETF (NYSE:PSIL) and several US-listed companies showed varied stock performance.

Portfolio Pulse from Lara Goldstein

March 04, 2024 | 6:48 pm

HC Wainwright & Co. analyst Patrick Trucchio has reiterated a Buy rating on Cybin (AMEX:CYBN) and maintained a $5 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:41 pm

Cybin reported a net loss of C$30.3 million for Q3, with cash reserves totaling C$39.0 million as of December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 12:57 pm

Cybin has been granted two additional patents in Japan, enhancing its DMT program aimed at treating Generalized Anxiety Disorder. These patents, securing exclusivity until at least 2040 and 2041, cover a synthesis method for DMT and dDMT and injectable formulations.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 12:33 pm

A new study suggests suggestibility plays a role in the antidepressant effects of psilocybin therapy. The EU has allocated $7M for psychedelic research for various disorders. In Australia, the first psychedelic-assisted medical treatments in 50 years were provided. Incannex Healthcare's CEO discussed the company's role in psychedelic-assisted therapies on the Benzinga Psychedelics Podcast. Psychedelics stocks showed varied performance, with COMPASS Pathways, GH Research, and Incannex Healthcare closing higher, while others like Seelos Therapeutics and Enveric Biosciences closed lower. The AdvisorShares Psychedelics ETF (PSIL) closed at $1.43.

Portfolio Pulse from Lara Goldstein

January 27, 2024 | 3:00 pm

MAPS Public Benefit Corporation, a subsidiary of MAPS, has raised over $100M in Series A funding to support FDA approval of MDMA for PTSD treatment. The U.S. Department of Veterans Affairs is funding psychedelic research for veterans with PTSD and depression. A list of 30 influential figures in psychedelics for 2024 was highlighted. Psychedelics policy reform is advancing in 13 states. Psychedelics stocks and ETFs showed varied performance, with some like GH Research and Atai Life Sciences closing higher, while others like Clearmind Medicine saw a decline.

Portfolio Pulse from Lara Goldstein

January 12, 2024 | 9:55 pm

The psychedelics industry is experiencing rapid growth, with the global market projected to reach $7.1 billion by 2032. The article highlights 30 influential figures in the field, including executives, scientists, and advocates, who are driving innovation and acceptance of psychedelic medicines. Among the notable individuals are Janet Qi of PurMinds Neuropharma, Dr. Anna Yusim, Kristina Spionjak of HLTH Communications, Marik Hazan of Tabula Rasa Ventures, Shayla Love, Doug Drysdale of Cybin Inc. (NYSE:CYBN), Dr. Beatriz Caiuby Labate of MAPS, Dr. David Meiri, Nataliya Vorobyeva of Hive Bio, Dr. Joseph Tucker of Enveric Biosciences (NASDAQ:ENVB), Amanda Siebert, Mattha Busby, Dennis Walker of Mycopreneur, Graham Pechenik, Rick Doblin of MAPS PBC, Jules Evans, Prof. David Nutt, Dr. Peter Grinspoon, Dr. Nolan Williams, Genevieve and Steve Jurvetson (Steve is an early VC investor in Tesla (NASDAQ:TSLA)), Reilly Capps, Payton Nyquvest of Numinus Wellness (OTC:NUMIF), Andrew Huberman, Dr. Max Wolff, Amanda Feilding, Dr. Rachel Yehuda, Dr. Mason Marks, David B. Yaden, and Dr. Robin Carhart-Harris. The article emphasizes the diverse backgrounds and contributions of these individuals to the advancement of psychedelic therapy for mental health.

Portfolio Pulse from Lara Goldstein

January 11, 2024 | 12:56 am

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