Cybin (NYSE American: CYBN) (Cboe CA: CYBN), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options for mental-health disorders, is reporting its audited financial results for the fiscal year ended March 31, 2024; the report also included a business overview. Highlights of the report include the company receiving U.S. Food and Drug Administration (“FDA”) Breakthrough Therapy Designation (“BTD”) for CYB003, Cybin’s proprietary deuterated psilocybin analog in development for the adjunctive treatment of major depressive disorder (“MDD”); the competition of clinical site selection for a phase 3 multinational study of CYB003, which is expected to begin in summer 2024; the initiation of a phase 2 study of CYB004, Cybin’s proprietary deuterated dimethyltryptamine (“DMT”) program in development for the treatment of generalized anxiety disorder (“GAD”); and the strengthening of the company’s intellectual property portfolio with more than 60 granted patents and 200 pending applications. In addition, the company reported a cash total of C$209 million as of March 31, 2024, with a closed oversubscribed private placement of $150 million involving a syndicate of leading biopharmaceutical institutional investors. “I am proud of the swift and meaningful progress we have made advancing our two lead programs – CYB003 for the adjunctive treatment of MDD and CYB004 for the treatment of GAD – this past year,” said Cybin CEO Doug Drysdale in the press release. “As we stand poised to commence our phase 3 study of CYB003, Cybin has evolved into a mature, late-stage company with critical milestones on the near-term horizon. Supported by the BTD from the FDA and positive four-month durability data for our CYB003 program, and the initiation of our phase 2 study of CYB004, we are progressing quickly to potentially change the treatment paradigm for MDD and GAD and bring to market innovative treatment options for patients in need. The path towards approval and commercialization for such novel therapeutics is gaining clarity. We believe our rigorous research and novel clinical approach can lead to a wholesale transformation in how mental health disorders are treated and ultimately, to improved outcomes for patients and their families.”
To view the full press release, visit https://ibn.fm/adVcN
About Cybin Inc.
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental-health conditions. Cybin’s goal of revolutionizing mental healthcare is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug-discovery platforms, innovative drug-delivery systems, and novel formulation approaches and treatment regimens. The company is currently developing CYB003, a proprietary deuterated psilocybin analog for the adjunctive treatment of major depressive disorder, and CYB004, a proprietary deuterated DMT molecule for generalized anxiety disorder; the company also has a research pipeline of investigational psychedelic-based compounds. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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