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 has announced an agreement with Fluence to support the scaling of EMBARK training for its CYB003 Phase 3 trial. Fluence will assist in the selection and training of facilitators, create supplemental video content, and provide both asynchronous and synchronous training.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 11:35 am

Cybin (NYSE:CYBN) has completed enrollment in its Phase 2 study of novel deuterated psilocybin analog CYB003 for the potential treatment of Major Depressive Disorder (MDD). The company has delivered the highest dose of the drug with no serious adverse events reported. Cybin is planning to scale its clinical program around CYB003, which is protected by a U.S. patent until 2041, to a multinational Phase 3 study in early 2024. The company is also anticipating a potential FDA “Breakthrough Therapy” designation in 2023’s last quarter. Additionally, Cybin's acquisition of Small Pharma (OTC:DMTTF) is expected to take place within the last quarter of 2023.

Portfolio Pulse from Lara Goldstein

September 22, 2023 | 2:04 am

Cybin Inc. has completed enrollment in its Phase 2 study of CYB003, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 2:38 pm

Cybin Inc. (NYSE:CYBN) has completed enrollment in its Phase 2 study of CYB003, a treatment for major depressive disorder. The company has reported no serious adverse events and a favorable safety profile. Cybin plans to scale the CYB003 program to a potential Phase 3 study in early 2024. The program is supported by a recently granted U.S. patent and the company anticipates potential Breakthrough Therapy designation, subject to FDA approval, in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 11:32 am

Shares of several companies including TransCode Therapeutics, Fresh Tracks Therapeutics, EBET, Exscientia, Histogen, Rail Vision, Avinger, Inhibikase Therapeutics, Microbot Medical, and Cheche Group are trading higher in pre-market. Fresh Tracks Therapeutics and Histogen announced plans of liquidation and dissolution. Exscientia and Merck announced collaboration on AI-driven drug discovery. Avinger announced the commercial launch of its Tigereye ST image-guided CTO crossing device. On the other hand, shares of ARS Pharmaceuticals, Connexa Sports Technologies, Bird Global, TD Holdings, AgileThought, Elutia, Digital Transformation Opportunities Corp., Cybin, and Revance Therapeutics are trading lower. ARS Pharmaceuticals received a Complete Response Letter from the FDA for its neffy® Epinephrine nasal spray. Bird Global announced its purchase of micromobility operator Skinny Labs for $19 million. Elutia announced a $26 million private placement of shares.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 12:19 pm

Shares of several companies including Connexa Sports Technologies, Elutia, Galera Therapeutics, Senti Biosciences, Neptune Wellness Solutions, Aclarion, Cybin, Avinger, SelectQuote, and Bit Brother Limited are trading higher in pre-market. Elutia's shares rose after the sale of its Orthobiologics business unit to Berkeley Biologics. Galera scheduled a meeting with the FDA to discuss next steps for its radiotherapy avasopasem. Neptune Wellness announced intention to spinout Sprout Organics. Cybin shares surged after hedge fund owner Steve Cohen invested $19 million in the company. On the other hand, shares of Digital Transformation Opportunities Corp., Rocket Lab USA, Novo Integrated Sciences, 60 Degrees Pharmaceuticals, Terran Orbital Corporation, Perspective Therapeutics, MSP Recovery, T2 Biosystems, SCWorx Corp., and FLJ Group Limited are trading lower in pre-market.

Portfolio Pulse from Lisa Levin

September 19, 2023 | 11:59 am

Hedge fund owner Steve Cohen has invested $19 million in Cybin, causing the company's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 7:53 pm

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 7:10 pm

NY-based consulting firm Research Nester predicts the global market for psychedelic substances will grow at a CAGR of around 14% over the next 12 years, reaching $12 billion by 2035. The report features key players such as COMPASS Pathways, Silo Pharma, Numinus Wellness, Cybin, Mind Medicine, PharmaTher Holdings, atai Life Sciences, Jazz Pharmaceuticals, Janssen Pharmaceuticals, and Pfizer. The growth is attributed to increased demand for psychedelic drugs to treat mental health issues, reduced production costs due to the pandemic, and increased investment in R&D.

Portfolio Pulse from Lara Goldstein

September 12, 2023 | 8:35 pm

The Usona Institute has shared positive results from its Phase 2 trial assessing a single 25mg synthetic psilocybin dose for adults with Major Depressive Disorder. COMPASS Pathways (NASDAQ:CMPS) has also shared results from research on its novel AI technologies to support proprietary COMP360 psilocybin treatment for Treatment-Resistant Depression. In the UK, drug policy reform is underway, with a report urging the reclassification of psilocybin mushrooms and other psychedelics to Schedule 2. Several US states are also moving reform bills concerning the study or legalization of psychedelic substances for therapeutic purposes. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.79 on September 5, recovering from the prior week’s $1.65.

Portfolio Pulse from Lara Goldstein

September 11, 2023 | 1:34 pm

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