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

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

Cybin Inc. (NYSE:CYBN) has announced positive Phase 1 study results for its proprietary deuterated DMT molecules CYB004 and SPL028, which are being developed for the treatment of generalized anxiety disorder. The studies showed favorable safety, pharmacokinetic, and pharmacodynamic data in healthy volunteers.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:35 pm

MAPS Public Benefit Corporation, a subsidiary of MAPS, has raised over $100 million in Series A funding to support FDA approval of MDMA for PTSD treatment. The company will rebrand as Lykos Therapeutics. The investment reflects growing interest in psychedelic treatments for mental illnesses. Atai Life Sciences, Compass Pathways, and Cybin Inc. are also advancing in the psychedelic space with significant investments and acquisitions.

Portfolio Pulse from Maureen Meehan

January 06, 2024 | 8:59 pm

The DEA has clarified that psychedelic mushroom spores are federally legal prior to germination as they do not contain psilocybin or psilocin. This clarification does not change the legal status of the spores, which are illegal in some states and may still be considered drug paraphernalia depending on their marketing or use. The DEA also discussed the legal status of marijuana seeds, delta-8 THC, and synthetic cannabinoids, indicating ongoing regulatory efforts and interpretations.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:41 pm

Cybin Inc. (NYSE:CYBN) reported positive Phase 2 results for its CYB003 deuterated psilocybin analog program for treating major depressive disorder (MDD), with a 79% remission rate at six weeks after two doses. The results show significant improvements over current SSRIs and other psychedelics, with plans to initiate a Phase 3 trial in early 2024. Cybin also plans to start a Phase 2 trial for CYB004 in generalized anxiety disorder (GAD) and has patents protecting its compounds until at least 2041.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:35 pm

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