Cybin (NEO: CYBN) (NYSE American CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has announced its unaudited business highlights and financial results for the three-month period ended June 30, 2021. In the report, the company noted it had become the first psychedelic company to list on the NYSE American LLC stock exchange, a milestone reached on Aug. 5, 2021; raised more than C$120 million with the inclusion of its latest equity financing round; achieved certain milestones by wholly owned subsidiary Adelia Therapeutics Inc.; initiated the next phase of its digital therapeutics platform designed to evaluate patient outcomes through a highly secure, patient-centered data analytics platform for pre- and post-psychedelic treatments; started scale up of its European operations and research activities; expanded its patent portfolio to 13 patent filings; and entered into an exclusive research and development collaboration agreement with TMS NeuroHealth Centers Inc. Financially, the company reported total cash and cash equivalents of C$55.1 million for the quarter ending June 30, 2021, and net loss of C$14.7 million for the same period, of which noncash expenses totaled C$5.6 million and cash-based operating expenses totaled C$9.1 million. “During the past several months, Cybin has garnered a great deal of attention as an emerging leader in the psychedelic therapeutics space,” said Cybin CEO Doug Drysdale in the press release. “We believe the molecules we have under development may have the potential to transform the treatment landscape and fill current unmet treatment needs for various psychiatric and neurological conditions. We look forward to sharing updates as we advance our pre-clinical and clinical programs and continue the scientific exploration that we believe will ultimately provide safer and more effective treatments for those suffering with mental illness and addiction issues.”
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About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
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