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

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

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

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