Tang Capital exits Cybin (CYBN), reports no remaining common shares

Rhea-AI Filing Summary

Tang Capital Management and related entities have exited their stake in Cybin Inc. In Amendment No. 3 to a Schedule 13G, Tang Capital Management, Kevin Tang, and affiliated partnerships and corporations report beneficial ownership of 0 shares of Cybin common stock, or 0% of the class, as of December 31, 2025.

The filing confirms they no longer have sole or shared voting or dispositive power over any Cybin shares and state that the securities were not acquired or held to change or influence control of the company.

Insights

Equity ownership & disclosure analyst

Tang Capital and affiliates now report owning 0% of Cybin’s common stock.

Tang Capital Management, Kevin Tang, and several affiliated entities have filed an amended Schedule 13G indicating they beneficially own 0 Cybin Inc. common shares, representing 0% of the class as of December 31, 2025. They also report no voting or dispositive power over any shares.

This moves them below the 5% reporting threshold, signaling that a former significant holder no longer has an economic or governance stake in Cybin’s stock according to this filing. The certification further states the securities were not acquired or held for the purpose of changing or influencing control.

Subsequent ownership updates, if any, would typically appear in future beneficial ownership disclosures or proxy materials, providing more detail on Cybin’s evolving shareholder base and the presence or absence of other large institutional holders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 02/17/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What does Tang Capital Management’s Schedule 13G/A say about its Cybin (CYBN) ownership?

Tang Capital Management’s amended Schedule 13G reports beneficial ownership of 0 Cybin common shares, or 0% of the outstanding class, as of December 31, 2025. It also reports no sole or shared voting or dispositive power over any Cybin stock.

Who are the reporting persons in the Cybin (CYBN) Schedule 13G/A amendment?

The reporting persons are Tang Capital Management, LLC, Kevin Tang, Tang Capital Partners, LP, Tang Capital Partners International, LP, Tang Capital Partners III, Inc., and Tang Capital Partners IV, Inc. Each reports beneficial ownership of 0 Cybin common shares and 0% of the class.

What percentage of Cybin (CYBN) does Kevin Tang now beneficially own according to the filing?

Kevin Tang reports beneficial ownership of 0 Cybin common shares, representing 0% of the company’s common stock. The filing shows he has no sole or shared voting or dispositive power over Cybin shares as of December 31, 2025.

Does the Schedule 13G/A show Tang Capital still has voting power over Cybin (CYBN) shares?

No. The amendment reports 0 shares with sole or shared voting power and 0 shares with sole or shared dispositive power for all reporting persons. This indicates Tang Capital and affiliates currently have no voting authority over any Cybin common stock.

What certification about control of Cybin (CYBN) is included in the Schedule 13G/A?

The signatory certifies the securities referenced were not acquired and are not held for the purpose of changing or influencing control of Cybin and are not held in connection with any transaction having that purpose, other than activities solely related to a nomination under Rule 240.14a-11.

When is the date of the event requiring this Cybin (CYBN) Schedule 13G/A filing?

The date of the event requiring the amended Schedule 13G filing is December 31, 2025. As of that date, Tang Capital Management, Kevin Tang, and affiliated entities collectively reported beneficial ownership of 0 Cybin common shares, equal to 0% of the class.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Cybin Inc.

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

23256X407

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

TANG CAPITAL MANAGEMENT, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

KEVIN TANG

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

TANG CAPITAL PARTNERS, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

TANG CAPITAL PARTNERS INTERNATIONAL, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

TANG CAPITAL PARTNERS III, INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 23256X407

1

Names of Reporting Persons

TANG CAPITAL PARTNERS IV, INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cybin Inc.
(b)	Address of issuer's principal executive offices: 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9
Item 2.
(a)	Name of person filing: This Statement on Schedule 13G (this "Statement") is filed by Tang Capital Management, LLC ("TCM"), the general partner of Tang Capital Partners, LP ("TCP") and Tang Capital Partners International, LP ("TCPI"); Kevin Tang, the manager of TCM and Chief Executive Officer of Tang Capital Partners III, Inc. ("TCP III") and Tang Capital Partners IV, Inc. ("TCP IV"); TCP; TCPI; TCP III; and TCP IV.
(b)	Address or principal business office or, if none, residence: The address of TCM, Kevin Tang, TCP and TCPI is 4747 Executive Drive, Suite 210, San Diego, CA 92121. The address of TCP III and TCP IV is 400 S. 4th Street, 3rd Floor, Las Vegas, NV 89101.
(c)	Citizenship: TCM is a Delaware limited liability company. Mr. Tang is a United States citizen. TCP and TCPI are Delaware limited partnerships. TCP III and TCP IV are Nevada corporations that are indirectly wholly owned by TCP.
(d)	Title of class of securities: Common Stock, no par value
(e)	CUSIP No.: 23256X407
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0 shares
	(ii) Shared power to vote or to direct the vote: 0 shares
	(iii) Sole power to dispose or to direct the disposition of: 0 shares
	(iv) Shared power to dispose or to direct the disposition of: 0 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TANG CAPITAL MANAGEMENT, LLC

Signature:	/s/ Kevin Tang
Name/Title:	Manager
Date:	02/17/2026

KEVIN TANG

Signature:	/s/ Kevin Tang
Name/Title:	Self
Date:	02/17/2026

TANG CAPITAL PARTNERS, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	02/17/2026

TANG CAPITAL PARTNERS INTERNATIONAL, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	02/17/2026

TANG CAPITAL PARTNERS III, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	02/17/2026

TANG CAPITAL PARTNERS IV, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	02/17/2026