Cybin Inc.(AMEX:CYBN) (CBOE: CYBN), a clinical-stage biopharmaceutical company focused on developing next-generation psychedelic treatments for mental health disorders,announced Wednesday its financial results for the fiscal quarter and year ending March 31, 2024, alongside significant strides in psychedelic therapy development.Cybin reported a net loss of C$78 million ($57 million) for FY 2024, a noticeable increase from C$47 million the previous year.

Fiscal Year 2024 Financial Highlights

• No profits or revenues reported.
• Net loss was C$78 million.
• Cash totaled C$209 million as of March 31, 2024.
• Closed oversubscribed private placement of $150 millionled by a syndicate of leading biopharmaceutical institutional investors.

Q4 2024 Financial Highlights