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

Cybin Inc. (NYSE:CYBN) has shared interim results from its Phase 2 study of psilocybin analog CYB003 on Major Depressive Disorder (MDD). The results showed a significant reduction in depression symptoms three weeks after a single 12mg dose. The company also plans to share topline Phase 1 data for its proprietary deuterated DMT compounds, CYB004 and SPL028, before the end of the year. The stock price rose following the announcement of the interim results.

Portfolio Pulse from Lara Goldstein

November 01, 2023 | 8:51 pm

HC Wainwright & Co. analyst Patrick Trucchio has reiterated a 'Buy' rating on Cybin (AMEX:CYBN) and maintained a $10 price target.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:22 pm

Cybin has announced that its Phase 2 interim data for CYB003 in Major Depressive Disorder has met its primary efficacy endpoint. The data shows improvements in depression symptoms after a single dose.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 11:48 am

Psychedelics companies Cybin Inc. and Small Pharma Inc. have completed their acquisition agreement, making Small Pharma a wholly-owned subsidiary of Cybin. The combined company has received two patent grants from the USPTO and one from the European Patent Office. The AdvisorShares Psychedelics ETF has been showing a descending trend in its opening and closing prices. Other psychedelics stocks such as GH Research, COMPASS Pathways, Mind Medicine, Enveric Biosciences, Bright Minds Biosciences, Silo Pharma, Atai Life Sciences, Incannex Healthcare, FSD Pharma, and Cybin Inc. have also seen changes in their closing prices.

Portfolio Pulse from Lara Goldstein

October 30, 2023 | 2:48 am

Cybin (NYSE:CYBN) has received three new international patents for its deuterated psychedelics programs, two from the United States Patent and Trademark Office and one from the European Patent Office. The patents protect the composition of matter for certain deuterated DMT analogs and their medical use. The company's development programs are now protected by 33 granted patents and over 170 pending applications. Cybin is currently conducting Phase 1 clinical trials for its deuterated DMT compounds CYB004 and SPL028, and a Phase 2 clinical trial for its deuterated psilocybin analog CYB003.

Portfolio Pulse from Lara Goldstein

October 26, 2023 | 9:21 pm

Activists in California are planning to submit a proposed ballot measure this week that would legalize the use, production, and sales of most psychedelics. The proposal, called the Psychedelic Wellness and Healing Initiative of 2024, would allow people to grow psychedelic plants and fungi at home for personal use. The initiative aims to provide a path for safe, legal access to psychedelics for medical treatment, therapy, or spiritual use. The proposal would also allow businesses to cultivate, manufacture, and distribute psychedelics as a wholesaler as of January 1, 2025, and sell psychedelics from April 19, 2025.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:08 pm

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

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