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 “a swell” of insider purchases following the company’s year-end update; the report highlighted significant advancements that strengthened Cybin’s position in the development of next-generation psychedelic-based therapeutics. In the announcement, Cybin noted that “fast-moving sectors need equally fast-moving companies, a box that Cybin checks, supported by a June 26th update on progress made in fiscal 2024 ending on March 31st.” The report also noted that the company’s strength includes innovative research programs, robust financial health and the achievement of strategic milestones targeting the treatment of major depressive disorder (“MDD”) and generalized anxiety disorder (“GAD”). The announcement noted that multiple senior officers and directors showed their confidence in Cybin through personal investments. Those individuals included CEO Douglas Drysdale; senior officer Aaron Frank Bartlone; senior Gregory Joseph Cavers; Eric So, chair, president and cofounder of various holdings; senior officer Gabriel Fahel; director Grant Bernard Froese; and Paul Glavine, cofounder, director and CGO of various holdings. In addition, the company reported that Zacks Investment Research upgraded Cybin to a Zacks Rank #2 (Buy) in a July 5, 2024, analysis. “Notably, the Zacks rating system is based less on opinion than performance,” stated the company in the press release. “According to its update about Cybin, it relies solely on the company’s changing earnings picture, tracking EPS estimates for the current and following years from sell-side analysts through a consensus measure known as the Zacks Consensus Estimate. The upgrade to Zacks Rank #2 reflects positivity about Cybin’s earnings outlook, which they note could translate into buying pressure and an increase in its stock price.”
To view the full press release, visit https://ibn.fm/7p3S3
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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