Cybin Inc. - CYBN STOCK NEWS

Cybin Inc. has received a Schedule I license from the U.S. Drug Enforcement Agency to commence its Phase 1/2a clinical trial for CYB003, a deuterated psilocybin analog aimed at treating major depressive disorder. CEO Doug Drysdale announced that participant recruitment is underway, with hopes to begin dosing soon. The trial will evaluate the efficacy of CYB003 through a randomized, placebo-controlled study assessing the impact of two doses on moderate to severe MDD. The results will contribute to understanding the drug's potential benefits and safety over a 12-week period.

Cybin Inc. announced the results of its annual shareholder meeting held on August 15, 2022. A total of 71 shareholders attended, representing 28.3% of the company's common shares. Zeifmans LLP was appointed as the auditor with 92.51% approval. All nominated directors, including Theresa Firestone and Grant Froese, were elected with over 98% voting in favor. This reflects shareholder confidence in Cybin's leadership as it continues its mission to develop therapeutics for mental health issues through psychedelics.

Cybin Inc. has launched an at-the-market equity program allowing the sale of up to USD$35,000,000 of common shares. The program enables sales through the NEO Exchange, NYSE American, or other marketplaces at prevailing market prices. Proceeds are designated for growth opportunities and working capital initiatives. The program is effective until the sale of all issued shares or August 5, 2023. The Distribution Agreement was established with Cantor Fitzgerald Canada Corporation and includes terms under which shares will be sold.

Cybin Inc. reported its first-quarter financial results for the period ending June 30, 2022, with cash and equivalents totaling C$42.5 million. The company has made progress in its clinical development, initiating trials for its lead candidate CYB003 for major depressive disorder and CYB004 for anxiety disorders. Noteworthy highlights include the completion of over 200 preclinical studies and an expanding intellectual property portfolio with 1 patent issued and 19 pending.

Net loss for the quarter was C$13.1 million.

Cybin Inc. announced that CEO Doug Drysdale will participate in a fireside chat during the Canaccord Genuity 42nd Annual Growth Conference, set for August 8-11, 2022 at the InterContinental Boston Hotel. The event will be webcast live on August 11, 2022 at 3:30 p.m. ET. Interested parties can access the live event and subsequent archived webcast on the Company's investor relations website.

Founded in 2019, Cybin is dedicated to developing safe and effective therapeutics for mental health issues, leveraging innovative technologies and partnerships.

Cybin, a biopharmaceutical company focused on developing psychedelics into therapeutics, announced its 2022 Annual Meeting of Shareholders will be held virtually on August 15, 2022, at 10:00 a.m. ET. Shareholders of record as of July 11, 2022 will receive meeting details by around July 25, 2022. The company aims to progress its proprietary drug discovery platforms and innovative treatment regimens for mental health disorders while emphasizing the need for rigorous scientific research and clinical trials for its proposed products.

Cybin has initiated a Phase 1/2a clinical trial for CYB003, a novel psilocybin analog aimed at treating major depressive disorder (MDD). This marks the first development of such a compound in clinical studies for MDD. The FDA granted Investigational New Drug clearance for the trial, expected to evaluate rapid antidepressant effects and safety over 12 weeks. Participants aged 21-55, currently on ineffective antidepressants, can engage in the study, which includes 11 outpatient visits and compensation up to $4,335. The trial's findings may significantly impact treatment accessibility for mental health disorders.

Cybin has successfully acquired a Phase 1 N,N-dimethyltryptamine (DMT) study from Entheon Biomedical Corp. for CDN$1,000,000, with potential additional payments for consulting services. This acquisition is set to accelerate the clinical development timeline of CYB004, a deuterated DMT molecule aimed at treating anxiety disorders, by approximately nine months. The acquisition includes a data license agreement allowing Entheon access to crucial data. The CYB004-E study will evaluate safety and pharmacokinetics of DMT and is part of Cybin's broader commitment to advancing psychedelic therapies for mental health.