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

Shares of psychedelic companies GH Research, Compass Pathways, ATAI Life Sciences, and Mind Medicine saw significant gains in their stock prices, while Cybin experienced a slight decline. GH Research led the gainers with a 9.06% increase, followed by Compass Pathways with a 6.00% rise. ATAI Life Sciences and Mind Medicine also posted gains of 4.67% and 4.10%, respectively. On the other hand, Cybin's shares fell by 1.61%.

Portfolio Pulse from Benzinga Insights

November 23, 2023 | 9:30 pm

Cybin is set to discuss Phase 2 safety and efficacy data for CYB003, a deuterated psilocybin analog for Major Depressive Disorder, during an R&D Investor Briefing in New York City on November 30, 2023, at 10:00 A.M. ET.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 12:58 pm

Analysts have recently provided ratings for Cybin (AMEX:CYBN), with 7 analysts offering a bullish to somewhat bullish outlook and none bearish. The average price target is $5.71, which is significantly higher than the current price of $0.445, suggesting a substantial upside. However, this target is a 42.9% decrease from the previous target of $10.00. The ratings indicate a positive sentiment towards CYBN stock.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 3:00 pm

Several top Wall Street analysts have updated their price targets and ratings for various companies. Telsey Advisory Group raised Williams-Sonoma's target and maintained an Outperform rating. Piper Sandler increased Globant's target and kept an Overweight rating. Morgan Stanley upgraded Analog Devices and raised its target. UBS downgraded Agilent Technologies and CareMax, cutting their targets. Telsey Advisory Group lifted The Gap's target and maintained a Market Perform rating. JP Morgan upgraded Hubbell and increased its target. HC Wainwright & Co. lowered Cybin's target but maintained a Buy rating. Needham raised Napco Security Technologies' target and maintained a Buy rating. Evercore ISI Group upgraded Expedia Group and boosted its target.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 12:34 pm

HC Wainwright & Co. analyst Patrick Trucchio has maintained a Buy rating on Cybin (AMEX:CYBN) but has reduced the price target from $10 to $5.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 11:14 am

Cybin announced it will release Phase 2 topline safety and efficacy data for its CYB003 drug in treating Major Depressive Disorder on November 30, 2023. Additionally, Cybin will host an R&D briefing on the same day.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 12:34 pm

Cybin Inc. (NYSE:CYBN), a clinical-stage biotech company, reported its Q2 financial results, showing a cash balance of $13.25 million and increased R&D expenses. The company has access to over $101 million, including proceeds from share issuances and an ATM equity program. Cybin has made progress in its psychedelics programs, with positive interim data for CYB003 in MDD, acquisition of Small Pharma Inc., and additional patent acquisitions. Upcoming milestones include Phase 2 data readouts, FDA submissions, and initiation of Phase 3 trials.

Portfolio Pulse from Lara Goldstein

November 15, 2023 | 8:38 pm

Cybin Inc. reported a Q2 net loss of C$11.9 million, compared to a net loss of C$10 million in the same quarter last year. The company has C$18.1 million in cash on hand.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 7:11 am

The article discusses various aspects of the psychedelics industry, including the potential of psychedelic treatments for PTSD in veterans, a possible $100M IPO by a psychedelics company, and Cybin Inc.'s new $64M offering. It also covers worldwide events related to psychedelics and provides a performance overview of the AdvisorShares Psychedelics ETF (PSIL) and several psychedelics stocks. Cybin Inc. announced an underwritten offering of units at $0.45, with $30M fully funded upon closing and an additional $34M upon full exercise of warrants. The article also lists the closing prices of several psychedelics stocks on November 10, with most showing a downward trend.

Portfolio Pulse from Lara Goldstein

November 13, 2023 | 1:39 am

Cybin Inc. (NYSE:CYBN), a clinical-stage psychedelics biotech company, has launched a new underwritten offering of 66.66 million units at $0.45 each to institutional shareholders, aiming to raise up to $64 million. The offering includes common shares and warrants exercisable at $0.51. The proceeds will fund Cybin's CYB003 and deuterated DMT programs and for general corporate purposes. Cybin also suspended a previous funding agreement with Lincoln Park Capital Fund (LPC), effective immediately.

Portfolio Pulse from Lara Goldstein

November 10, 2023 | 7:58 pm

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