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Cybin | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Jun 27 02:14
Summary by Futu AI
Cybin Inc., a clinical-stage biopharmaceutical company, announced its fiscal year 2024 financial results and recent business highlights. The company reported significant progress with its two lead programs, CYB003 and CYB004, aimed at treating Major Depressive Disorder (MDD) and Generalized Anxiety Disorder (GAD), respectively. CYB003 received FDA Breakthrough Therapy Designation and is expected to enter Phase 3 trials in summer 2024. CYB004 has initiated a Phase 2 study. Cybin ended the fiscal year with C$209 million in cash and completed a U.S.$150 million oversubscribed private placement. The company's net loss increased year-over-year, with C$78 million reported for the fiscal year ended March 31, 2024. Cybin's CEO, Doug Drysdale, expressed optimism about the company's direction and the potential impact of its programs on mental health treatment. The company also strengthened its intellectual property portfolio with over 60 granted patents and more than 200 pending applications.
Cybin Inc., a clinical-stage biopharmaceutical company, announced its fiscal year 2024 financial results and recent business highlights. The company reported significant progress with its two lead programs, CYB003 and CYB004, aimed at treating Major Depressive Disorder (MDD) and Generalized Anxiety Disorder (GAD), respectively. CYB003 received FDA Breakthrough Therapy Designation and is expected to enter Phase 3 trials in summer 2024. CYB004 has initiated a Phase 2 study. Cybin ended the fiscal year with C$209 million in cash and completed a U.S.$150 million oversubscribed private placement. The company's net loss increased year-over-year, with C$78 million reported for the fiscal year ended March 31, 2024. Cybin's CEO, Doug Drysdale, expressed optimism about the company's direction and the potential impact of its programs on mental health treatment. The company also strengthened its intellectual property portfolio with over 60 granted patents and more than 200 pending applications.
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