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Cybin Inc. (symbol: CYBN) is a pioneering biopharmaceutical company dedicated to addressing mental health challenges through innovative therapeutics. Specializing in psychedelic-based therapies, Cybin focuses on developing novel compounds, delivery mechanisms, and protocols aimed at treating a range of psychiatric and neurological conditions.
Cybin's core business revolves around advancing clinical-stage programs designed to harness the potential of psychedelics. The company is engaged in creating safe and effective treatments for conditions such as depression, anxiety, and post-traumatic stress disorder (PTSD). Their research and development efforts highlight the transformative potential of these therapies in modern medicine.
Recently, Cybin has achieved significant milestones, including progress in their proprietary drug delivery technologies. These advancements aim to improve the administration and efficacy of psychedelic compounds, ensuring patients receive the maximum therapeutic benefit. Their innovative approach extends to developing new chemical entities (NCEs) that hold promise in the field of mental health treatment.
Financially, Cybin remains robust and committed to its growth strategy. The company has secured strategic partnerships and collaborations that bolster its research initiatives and clinical trials. These alliances are crucial in accelerating the development and commercialization of their therapeutic solutions.
Cybin's product pipeline is impressive, featuring multiple candidates in various stages of development. These include CYB001, a formulation targeting major depressive disorder, and CYB003, designed for anxiety disorders. Each product undergoes rigorous testing to ensure safety and effectiveness.
In summary, Cybin Inc. is at the forefront of revolutionizing mental health treatment through psychedelic-based therapies. Their dedication to advancing science and addressing unmet medical needs positions them as a significant player in the biopharmaceutical industry.
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.
Cybin Inc. has announced a milestone achievement involving its subsidiary, Adelia Therapeutics Inc., as per a contribution agreement dated
Cybin has received FDA clearance to proceed with its Phase 1/2a clinical trial for CYB003, a novel psilocybin analog aimed at treating major depressive disorder. This milestone marks the first clinical development of a psilocybin analog. Patient recruitment will start immediately, with interim pharmacokinetic and safety data expected in Q4 2022. The trial will evaluate the impact of CYB003 on patients currently using antidepressants, assessing outcomes at two intervals post-administration. The compound demonstrated promising preclinical results indicating reduced dosing variability and improved effectiveness.
Cybin Inc. has reported its audited financial results for the fiscal year ended March 31, 2022, along with strategic milestones for 2022. The company has received IRB approval for its Phase 1/2a trial of CYB003 in major depressive disorder, expected to start mid-2022. Cybin plans to accelerate clinical development of CYB004 for anxiety disorders and has strengthened its IP portfolio with new patents. Financially, cash and cash equivalents stand at C$53.6 million, with a net loss of C$67.6 million for the fiscal year.
Cybin Inc. has received Institutional Review Board approval to start a first-in-human Phase 1/2a clinical trial evaluating its deuterated psilocybin analog, CYB003, for treating major depressive disorder (MDD). This milestone supports the company's goal to provide effective treatment options. The trial design includes double-blind, placebo-controlled methods, with assessments at Week 3 and Week 6 for efficacy. CYB003 aims to achieve faster onset and better tolerability compared to traditional psilocybin treatments.
Cybin has announced the acquisition of the largest Phase 1 DMT study in history from Entheon Biomedical Corp. This study aims to expedite the development of CYB004, Cybin's proprietary DMT molecule for anxiety treatment, by approximately nine months. Conducted in the Netherlands with 50 volunteers, this study will provide critical data on safety and dosing. The acquisition is valued at
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