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 has been granted a European patent for its proprietary deuterated programs. This patent will provide protection for the company's intellectual property in Europe.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 11:33 am

Psychedelics companies Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTCQB:DMTTF) have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The deal is seen as a significant milestone for Cybin, positioning it as a leader in the psychedelics sector. The combined company now has the industry’s largest deuterated DMT pipeline program and a large IP portfolio in the psychedelic drug development space. The merger is expected to accelerate innovation in the industry and deliver enhanced value for shareholders.

Portfolio Pulse from Lara Goldstein

October 23, 2023 | 5:39 pm

The article discusses the growing acceptance of psychedelic substances in treating mental health issues, with celebrities like Jada Pinkett Smith sharing their positive experiences. It also mentions the death of esteemed psychedelic researcher Dr. Roland Griffiths. A Congressional hearing on the use of psychedelics for mental health disorders was postponed. Harvard University is creating a Study of Psychedelics in Society and Culture, backed by a $16 million donation from a former Tesla employee. The article also provides updates on various companies in the psychedelic sector, including Small Pharma, Johnson & Johnson, Lucy Scientific, and others. The AdvisorShares Psychedelics ETF (PSIL) continues a descending trend.

Portfolio Pulse from Lara Goldstein

October 22, 2023 | 7:18 pm

Small Pharma Inc. (OTCQB:DMTTF) has released its Q2 2024 financial results ahead of its merger with Cybin Inc. (NYSE:CYBN). The results show a 58.6% six-month burn rate, with cash decreasing from $13.5 million in February 2023 to $5.6 million by August 2023. The company also reported a net loss of $2.98 million and $7.1 million for the three and six months ended August 31, 2023. The merger with Cybin is set to create a global DMT business.

Portfolio Pulse from Lara Goldstein

October 20, 2023 | 6:49 pm

Small Pharma Inc. (OTCQB:DMTTF) has received final approval from the Supreme Court of British Columbia for its acquisition by Cybin Inc. (NYSE:CYBN) in an all-share transaction. The deal is expected to close on or about October 23, 2023. After the completion, Small Pharma's shares will be delisted from the TSXV and OTCQB Venture Market.

Portfolio Pulse from Lara Goldstein

October 18, 2023 | 6:33 pm

Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTC:DMTTF) shareholders have approved the acquisition of the latter by the former. The FDA has issued a warning about the misuse of ketamine and ketamine-based drugs. The DEA has extended telemedicine flexibilities for controlled medications until the end of 2024. California Governor Gavin Newsom has vetoed a bill to decriminalize certain hallucinogens. Congress is discussing kratom product regulation. The AdvisorShares Psychedelics ETF (NYSE:PSIL) continues to show a downtrend in its opening price. Several psychedelic stocks, including GH Research (NASDAQ:GHRS), COMPASS Pathways (NASDAQ:CMPS), and Mind Medicine (NASDAQ:MNMD), also closed lower.

Portfolio Pulse from Lara Goldstein

October 16, 2023 | 7:57 pm

Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTCQB:DMTTF) have announced that their shareholders have approved the acquisition of Small Pharma by Cybin. The arrangement is subject to approval by BC’s Supreme Court and other customary closing conditions, with an expected effective date on or around October 23, 2023. Post-acquisition, Small Pharma will cease trading at TSXV and the OTCQB venture market.

Portfolio Pulse from Lara Goldstein

October 13, 2023 | 5:52 pm

Steve Cohen, owner of NY Mets, has purchased over 119 million shares of Bionomics Limited (BNOX) through his Point72 asset management firm, showing continued support for the biopharma sector. Bionomics Limited is a clinical-stage biopharmaceutical company based in Australia, currently trading on the Nasdaq and Frankfurt Stock Exchange. The company recently announced its plans to delist from the Australian Securities Exchange (ASX) following a U.S.-focused transformation plan. In other news, the AdvisorShares Psychedelics ETF (PSIL) opened at $1.62 on Monday, Oct. 2, and closed at $1.53 on Friday, Oct. 6.

Portfolio Pulse from Lara Goldstein

October 06, 2023 | 9:07 pm

Cybin Inc. (NYSE:CYBN) has completed dosing of the final participant cohort in the Phase 2 study on its deuterated psilocybin analog CYB003 for Major Depressive Disorder (MDD) treatment. The company expects to provide topline efficacy data before the end of the year. Cybin will now focus on the upcoming data submission to the FDA toward a potential scaling to a Phase 3 pivotal study in early 2024. The Phase 1/2 study evaluated CYB003’s safety, tolerability, PK/PD and psychedelic effect in ascending oral doses in both participants with MDD and healthy volunteers.

Portfolio Pulse from Lara Goldstein

October 03, 2023 | 6:51 pm

Steve Cohen, through his Point72 asset management firm, has purchased 119,092,680 ordinary shares of Bionomics Limited (NASDAQ:BNOX). The purchase coincided with Bionomics' announcement of positive results from its Phase 2b clinical trial on lead drug candidate BCN210 for PTSD treatment. Bionomics is also working with EmpathBio and Merck (NYSE:MRK) on various treatments.

Portfolio Pulse from Lara Goldstein

October 03, 2023 | 2:56 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.