Cybin Inc. - CYBN STOCK NEWS

Cybin (AMEX:CYBN) will participate in the SXSW Conference from March 10-19, 2023, with CEO Doug Drysdale and wellness expert Deepak Chopra featured on a panel titled Open Minds: Innovations in Consciousness, Psychedelics & Mental Health on March 12, 2023.

The panel will explore the connection between consciousness, mental health, and psychedelic therapeutics. They will also discuss the upcoming miniseries Open Minds: Exploring Psychedelic Medicine, set to release on April 19, 2023, showcasing leading experts in the field.

Cybin Inc. (NYSE:CYBN) announced interim data from its Phase 1/2a clinical trial of CYB003, showing rapid, short-acting psychedelic effects at low doses with a robust safety profile. The trial completed Phase 1 dosing, progressing to Phase 2a, with top-line results expected by late Q3 2023. Additionally, positive findings from the CYB004-E trial suggest IV DMT was well-tolerated, with first-in-human dosing expedited. Cybin will host an R&D Day on February 28, 2023, to discuss these developments further.

Cybin has announced a streamlining plan to enhance operational efficiency and focus on critical clinical trials. The company will reduce its workforce by approximately 15%, leading to anticipated cost savings and a significant decrease in its annual cash burn rate by millions of dollars. Cybin aims to support value-driving clinical milestones, particularly with its drug candidates CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder. A virtual R&D Day is scheduled for February 28, 2023, providing updates on its clinical development pipeline.

Cybin reported its third-quarter unaudited financial results for the period ending December 31, 2022, highlighting a net loss of C$10.7 million, a decrease from C$17.2 million in the prior year. Cash at the end of the quarter was C$22.5 million, which declined to C$20 million by February 14, 2023. Significant advances in clinical trials include the upcoming interim readout for CYB003 and the commencement of human trials for CYB004, both slated for their R&D Day on February 28, 2023. The company aims to optimize dosing strategies and leverage positive preclinical results to enhance its therapeutic offerings in mental health treatments.

Cybin Inc. has received approval to initiate first-in-human dosing of its proprietary molecule, CYB004, a deuterated form of DMT, during the ongoing CYB004-E Phase 1 trial in the Netherlands. This marks the first evaluation of deuterated DMT in humans, enhancing the understanding of its therapeutic benefits for generalized anxiety disorder. Preclinical studies indicate that CYB004 has improved bioavailability compared to traditional DMT, potentially allowing for less invasive dosing methods. Cybin holds a U.S. patent for CYB004, valid until 2041.

Cybin, a biopharmaceutical company focused on developing psychedelic therapies, will host a virtual R&D Day on February 28, 2023, from 10:00 a.m. ET to 11:30 a.m. ET. The event will showcase updates on Cybin's development pipeline, including interim results from the Phase 1/2a study of CYB003, targeted for treating major depressive disorder, and updates from the Phase 1 exploratory trial of CYB004 for generalized anxiety disorder. A Q&A session for investors will follow the presentation, and an archived webcast will be available afterward.

Cybin Inc. announced promising results from a feasibility study using Kernel Flow, a wearable technology designed to measure the psychedelic effects of ketamine on brain activity. Conducted in partnership with Kernel, the study found that Kernel Flow successfully provides real-time assessments of blood oxygenation changes linked to neural activity. Key findings included ketamine's impact on functional brain biomarkers and its potential utility in predicting therapeutic outcomes. Cybin aims to further explore psychedelics' effects for mental health treatments, holding exclusive rights to innovations from this study.

Cybin Inc. (AMEX:CYBN) has identified Generalized Anxiety Disorder (GAD) as a target indication for its proprietary DMT molecule, CYB004. Preclinical data suggests that CYB004 could effectively treat anxiety disorders, addressing a pressing need given the rising incidence of depression and anxiety, particularly following the pandemic. GAD affects over 40 million adults in the U.S., highlighting the urgency for innovative therapies. Cybin is currently conducting a Phase 1 exploratory trial to assess the safety and dosing of CYB004, with updates expected by the end of February 2023.

Cybin Inc. has outlined its key priorities for 2023, focusing on advancing its CYB003 and CYB004 clinical programs targeting major depressive disorder and anxiety disorders. The Company plans to provide an interim readout of CYB003's Phase 1/2a trial by February 2023, assessing safety and pharmacokinetics. CYB003 aims to improve on oral psilocybin with a more predictable dosing profile. Additionally, the CYB004 program, evaluating intravenous DMT, has shown no significant safety issues and is set to provide updates by February 2023.