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) 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

The article reports on the performance of psychedelic stocks from January 1, 2024. Cybin (CYBN) saw a gain, while ATAI Life Sciences (ATAI), Mind Medicine (MNMD), Compass Pathways (CMPS), and GH Research (GHRS) experienced losses.

Portfolio Pulse from Benzinga Insights

January 01, 2024 | 9:30 pm

Research indicates a significant percentage of U.S. veterans suffer from mental health disorders, with psychedelics showing promise in treatment. The FDA has granted breakthrough therapy designations to psilocybin and MDMA, signaling potential approval for therapeutic use. Congress is considering directing the Defense Department to study psychedelics for PTSD treatment. The VA has updated guidelines to include ketamine and esketamine but not other psychedelics. Cybin Inc. (AMEX:CYBN) has developed EMBARK, a psychological support model, and is testing synthetic psychedelic compounds CYB003 and CYB004 for MDD and GAD, respectively, with promising results. There is a call for the VA to provide guidance on psychedelic therapies to match private sector advancements.

Portfolio Pulse from Andre Bourque

December 13, 2023 | 5:56 pm

Cybin Inc. has been granted an additional U.S. patent for its CYB003 Deuterated Psilocybin Analog Program, which may strengthen its intellectual property portfolio and potentially enhance its position in the psychedelic therapy market.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:36 pm

The Department of Defense Health Agency is funding a trial for PTSD treatment using Seelos Therapeutics' intranasal ketamine, SLS-002. Cybin Inc. reported strong efficacy in its Phase 2 trial of psilocybin derivative CYB003 for Major Depressive Disorder. Clearmind Medicine announced results from a pre-clinical trial combining its MEAI treatment with SciSparc's PEA for various disorders. Clearmind also underwent a reverse stock split to comply with Nasdaq's minimum bid price rule. Beckley Retreats is launching a new psilocybin retreat program, and Mindbloom is introducing a ketamine therapy program. Seelos Therapeutics launched a public offering, and other companies reported financial results or updates. The AdvisorShares Psychedelics ETF and several psychedelics stocks' trading performance are also highlighted.

Portfolio Pulse from Lara Goldstein

December 05, 2023 | 3:12 pm

Cybin reported that 79% of patients were in remission from depression at 6 weeks after receiving two doses of CYB003 (12mg), indicating a clear incremental benefit from the second dose.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:36 pm

Cybin announced positive Phase 2 topline results for its investigational drug CYB003, achieving the primary efficacy endpoint with rapid and statistically significant improvements in depression symptoms after a single dose.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 12:34 pm

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