Cybin (NEO: CYBN) (NYSE American: CYBN), a biopharmaceutical company focused on progressing Psychedelics to Therapeutics(TM), has released its unaudited second-quarter results and announced a conference call to review the report. The report covers the period ended Sept. 30, 2021. Highlights in the report included the company’s announcement of preclinical data for its novel deuterated psilocybin analog, CYB003, for the potential treatment of major depressive disorder and alcohol use disorder. The company has also been granted a Schedule I manufacturing license from the U.S. Drug Enforcement Agency for its Boston-area research lab and has received FDA approval to proceed with a company-sponsored feasibility study using the Kernel Flow quantitative neuroimaging technology to measure ketamine’s psychedelic effect on cerebral cortex hemodynamics. Financially, the report noted cash and cash equivalents totaling C$75.2 million with net loss of C$17.6 million for the quarter. The company will also host a live webcast to discuss its report. The call is slated for today at 4:30 p.m. EST. Those interested can dial 1-844-200-6205 in the United States and 1-833-950-0062 in Canada; the meeting code is 727873. “The first half of the year has been a transformative period for Cybin that included significant and swift advancements in our research and development pipeline and overall business,” said Cybin CEO Doug Drysdale in the press release. “Through CYB003, we believe that we have identified a potentially safer treatment option for patients with depression and addiction disorders that we expect to have strong intellectual property protection and a positive pharmacokinetic profile for patients, providers and payers. We plan to move through the ongoing, remaining preclinical studies quickly and submit an investigational new drug application and clinical trial application in the second quarter of 2022, in the U.S. and the U.K., respectively.”
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About Cybin Inc.
Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in the United States, United Kingdom and Ireland. The company is focused on progressing psychedelics to therapeutics by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for mental health disorders. For more information, visit the company’s website at www.Cybin.com.
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