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Cybin Inc. (CYBN) is a clinical-stage biopharmaceutical leader advancing novel psychedelic-based therapies for mental health conditions. This dedicated news hub provides investors and researchers with essential updates on the company's progress in developing innovative treatment solutions.
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Cybin (NYSE American: CYBN) has announced a significant financing agreement with High Trail Special Situations LLC for up to US$500 million in convertible debentures. The initial tranche of US$50 million was completed on June 30, 2025, with the remaining US$450 million to be determined at a future date upon mutual agreement.
The convertible debentures feature a two-year term with a 5.5% annual interest rate, prepaid at closing. The conversion price includes a potential 30% premium, calculated as the lower of 130% of the VWAP prior to issuance or the VWAP during the five trading days before conversion.
The funding will accelerate Cybin's clinical programs, particularly CYB003, which showed a 71% remission rate in major depressive disorder at 12 months, and CYB004 for generalized anxiety disorder. The company plans to use the proceeds for working capital and general corporate purposes, supporting its Phase 3 PARADIGM program and ongoing clinical trials.
Cybin Inc. (NYSE American:CYBN), a clinical-stage neuropsychiatry company, has reported its fiscal year 2025 financial results and business updates. The company is advancing its Phase 3 CYB003 PARADIGM program, which includes two 12-week studies (APPROACH™ and EMBRACE™) and a long-term extension study (EXTEND), targeting approximately 550 patients total.
Key clinical highlights include impressive Phase 2 results for CYB003 in major depressive disorder (MDD), where 100% of participants receiving two 16mg doses were responders and 71% achieved remission. The company is also progressing with its CYB004 Phase 2 study for generalized anxiety disorder, expected to complete around mid-2025.
Financially, Cybin reported cash reserves of C$135 million as of March 31, 2025. The company recorded a net loss of C$113 million for the fiscal year, compared to C$78 million in the previous year. Strategic partnerships have been established with Osmind for commercial preparations and Thermo Fisher Scientific for U.S.-based manufacturing.
Cybin (NYSE American: CYBN) has entered into a significant financing agreement with High Trail Special Situations LLC for up to US$500 million in convertible debentures. The initial tranche of US$50 million was completed on June 30, 2025, with the remaining US$450 million to be determined at a future date upon mutual agreement.
The convertible debentures feature a two-year term with a 5.5% annual interest rate, pre-paid at closing. The conversion price includes a potential 30% premium and is based on the lower of 130% of the pre-issuance VWAP or the 5-day VWAP prior to conversion.
The funding will accelerate Cybin's clinical programs, particularly CYB003, which showed a 71% remission rate in major depressive disorder at 12 months, and CYB004 for generalized anxiety disorder. The company's pipeline includes a multinational Phase 3 PARADIGM program for CYB003 and an ongoing Phase 2 GAD study for CYB004.
[ "Secured substantial financing of up to US$500 million through convertible debentures", "CYB003 demonstrated exceptional 71% remission rate in depression treatment with 12-month durability", "Received FDA Breakthrough Therapy Designation for CYB003", "Strong intellectual property portfolio with 90+ issued patents and 230+ pending applications", "Initial US$50 million funding completed with flexible terms for additional US$450 million", "Phase 3 PARADIGM program advancing with multiple near-term catalysts" ]Cybin Inc. (NYSE American:CYBN), a clinical-stage neuropsychiatry company, announces that CEO Doug Drysdale will participate in a Water Tower Research Fireside Chat on May 29, 2025, at 11:00 a.m. ET. The discussion, hosted by Senior Research Analyst Robert Sassoon, will cover several key topics including: the evolution of interventional psychiatry clinics and Cybin's Osmind partnership, updates on the CYB003 Phase 3 program, strategic clinical partnerships, the Thermo Fisher collaboration, upcoming milestones, and insights on FDA developments in psychedelics.
Cybin (NYSE:CYBN) has partnered with Thermo Fisher Scientific for Phase 3 clinical supply and potential commercial manufacturing of CYB003, its deuterated psilocin program for Major Depressive Disorder (MDD) treatment. The manufacturing operations will be based in the U.S., with drug substance production in Florence, South Carolina, and capsule production in Cincinnati, Ohio.
CYB003 received FDA Breakthrough Therapy Designation in March 2024, enabling expedited review and faster development. The program's Phase 2 results showed impressive efficacy with a 100% response rate and 71% remission rate among participants receiving two 16mg doses at 12 months. The company launched PARADIGM™, its multinational Phase 3 program, in November 2024 to evaluate CYB003 in a broader MDD patient population.