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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. (NYSE American:CYBN) (Cboe CA:CYBN), a clinical-stage neuropsychiatry company, provided updates on its key clinical programs. The company is preparing to initiate a pivotal Phase 3 study for CYB003, its deuterated psilocin program for Major Depressive Disorder (MDD), which has received FDA Breakthrough Therapy Designation. Cybin expects to report 12-month efficacy data from the Phase 2 study of CYB003 in early Q4 2024.
For CYB004, Cybin's deuterated dimethyltryptamine program for Generalized Anxiety Disorder (GAD), the company anticipates Phase 2 topline efficacy and safety results by year-end 2024 or early Q1 2025. Cybin has also strengthened its R&D team with the addition of Dr. Atul R. Mahableshwarkar and Dr. Tom Macek as program leads for CYB003 and CYB004, respectively.
Cybin Inc. (NYSE American: CYBN) (Cboe CA:CYBN), a clinical-stage neuropsychiatry company, has completed a share consolidation on a 38:1 basis. The consolidation, effective immediately, reduces the company's outstanding common shares from 759,692,495 to approximately 19,991,907. Trading of the consolidated shares begins today. This move does not affect shareholders' ownership percentages or voting power, except for minor adjustments due to fractional shares. The company has also adjusted the exercise price and number of shares issuable for outstanding warrants and options in line with the consolidation ratio.
Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN), a clinical-stage breakthrough neuropsychiatry company, announces its participation in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024 in New York, NY. CEO Doug Drysdale will engage in a fireside chat on Monday, September 9, 2024, at 8:30 a.m. ET, which will be webcast live and later archived on the company's investor relations website.
Additionally, Drysdale will join a panel discussion titled "Psychedelics in Psychiatry: Breaking New Ground in Mood Disorders" on Tuesday, September 10, 2024, at 3:00 p.m. ET. This event highlights Cybin's commitment to developing innovative next-generation treatment options for mental healthcare.
Cybin Inc. (NYSE American: CYBN) (Cboe CA:CYBN) held its annual and special meeting of shareholders on August 27, 2024, with 59.66% of total issued and outstanding common shares represented. Key outcomes include:
1. Appointment of Zeifmans LLP as auditor
2. Election of seven directors
3. Approval of common share consolidation
4. Amendments to equity incentive plan, shareholder rights plan, and common share purchase warrants
The company announced a 38:1 share consolidation, reducing outstanding shares from 759,692,495 to approximately 19,991,907. This consolidation is expected to be effective around September 19, 2024, subject to CBOE Canada approval.
Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN) has announced plans to initiate a Phase 3 pivotal trial of CYB003 for the adjunctive treatment of Major Depressive Disorder (MDD) in late summer 2024. This follows a successful Type B Initial Breakthrough Therapy Meeting with the FDA. The trial will include 30 clinical sites across the United States and Europe. Cybin's Phase 2 study showed promising results, with 75% of patients in remission from depression four months after two 16mg doses of CYB003. The company plans to implement measures to mitigate functional unblinding risks in the pivotal study, including a three-arm design and the use of remote, independent, blinded raters. Cybin expects to report 12-month efficacy data from the Phase 2 study in Q4 2024.
Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN) reported its Q1 FY2025 financial results and recent business highlights. Key points include:
- Phase 3 multinational study of CYB003 for Major Depressive Disorder (MDD) expected to begin in late summer 2024 across 30 clinical sites in the US and Europe
- 12-month efficacy results from Phase 2 study of CYB003 in MDD expected Q4 2024
- Additional US patent granted for the CYB004 program
- Strengthened R&D team with experienced drug development leaders
- Cash totaled C$183 million as of June 30, 2024
- Net loss was C$15 million for Q1 FY2025
- Cash-based operating expenses were C$16 million for Q1 FY2025
- Cash flows used in operating activities were C$27 million for Q1 FY2025
Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN), a clinical-stage neuropsychiatry company, announces its participation in the Canaccord Genuity 44th Annual Growth Conference. The event is scheduled for August 13-14, 2024 in Boston, MA. Doug Drysdale, Cybin's CEO, will engage in a fireside chat on Tuesday, August 13, 2024, at 2:00 p.m. ET.
The fireside chat will be webcast live and accessible to the public. An archived version of the webcast will be available on Cybin's investor relations website under the Events & Presentations page. This participation highlights Cybin's commitment to developing innovative next-generation treatment options in mental healthcare.
Cybin Inc. (NYSE American: CYBN) has announced significant insider stock purchases, highlighting confidence in the company's direction. Senior officers and directors have collectively acquired substantial shares, reinforcing faith in Cybin's strategic advancements. The company has achieved notable milestones, including FDA Breakthrough Therapy Designation for CYB003 for major depressive disorder (MDD) and positive Phase 2 results, showing a 14-point MADRS score reduction. Cybin is set to launch a Phase 3 study for CYB003 and a Phase 2 study for CYB004 targeting generalized anxiety disorder (GAD). Financially, Cybin is robust, with C$209 million in cash reserves as of March 31, 2024, and a recent US$150 million private placement. Zacks Investment Research upgraded Cybin to a Zacks Rank #2 (Buy), citing a 52.6% improvement in earnings estimates for FY 2025.
Cybin reported its Fiscal Year 2024 financial results, highlighting several key developments. The company received FDA Breakthrough Therapy Designation (BTD) for CYB003, its deuterated psilocybin analog for Major Depressive Disorder (MDD), and completed site selection for a Phase 3 study scheduled for summer 2024. Cash reserves totaled C$209 million as of March 31, 2024. CYB004, targeting Generalized Anxiety Disorder (GAD), advanced to Phase 2 trials. Cybin closed a US$150 million private placement and bolstered its patent portfolio with over 60 granted patents. Financial highlights include a net loss of C$78 million for the year, increased operating expenses, and substantial cash inflows from financing activities.
Cybin, a clinical-stage biopharmaceutical company focused on next-generation psychedelic treatments for mental health, announced that CEO Doug Drysdale will participate in the H.C. Wainwright 5th Annual Neuro Perspectives Virtual Conference. The event is scheduled for June 27, 2024, and Drysdale's fireside chat will be available on demand starting at 7:00 a.m. ET. The webcast can be accessed via a link provided in the announcement and will be archived on Cybin's investor relations website.
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