Cybin Inc Stock Price, News & Analysis

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 December 4, 2020. Adelia will receive 37,366.2 Class B common shares, valued at approximately $280,247.14, in exchange for meeting project milestones. Each Class B share is priced at $7.50 and is exchangeable for Cybin shares at a ratio of 10 to 1, subject to set exchange conditions. This development aims to progress Cybin's mission of creating therapeutic solutions addressing mental health issues.

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 $1,000,000 CAD, with a potential additional $480,000 CAD for consulting services. The deal is expected to close within 30 days pending approval.

Cybin Inc. has announced that its subsidiary, Adelia Therapeutics, achieved significant milestones as outlined in a December 2020 agreement. This includes a payment of $2,033,309.79 to Adelia shareholders, tied to milestone achievements. Class B shares will be issued, exchangeable for Cybin common shares at a rate of 10 to 1. The process for exchange is scheduled over the next two years. Cybin continues its mission to develop safe therapeutics to address mental health issues, leveraging innovative drug discovery and delivery systems.