Cybin is in late stage psychedelic-based development, with drug CYB003 for depression. We wrote about psychedelic drug emergence last year, Psychedelic-Based Therapeutics. The drug was granted FDA Breakthrough Therapy Designation, after they completed phase 2 testing.
Current developments: The company raised $50 million US Dollars with a financing agreement with High Trail Special Situations on June 30th. With this current financing completed, their financial situation for ongoing clinical development is estimated to be.
Financial Statistics:
- US $120 million of cash on hand (approximation)
- Debt - minimal
- 23 million shares outstanding
- 182 million market cap
- 50 million convertible debt
Intellectual Property:
- CYB003 Expected to expire in 2041
- CYB004 Expected to expire in 2041
Cybin is a high risk investment at this time, as they have zero commercial assets, and are in late stage clinical development with lead drug CYB003 with results expected in 2026. Thank you for reading.
