This week, Cybin Inc. (CYBN) completed its 74th preclinical study to advance its proprietary molecules, CYB003 and CYB004, toward clinical research.
The company has evaluated 50 novel compounds in its preclinical research, narrowing it down to four lead candidates. including CYB003 for alcohol use disorder and CYB004 for anxiety disorders. The formulations are showing faster onset times, shorter durations, high oral bioavailability, significant brain penetration, and less variability between subjects compared to classic psychedelics.
Human clinical trials are expected to commence early next year to work toward an Investigational New Drug (IND) status.
NEW YORK, Oct. 18, 2021 /PRNewswire/ — Virtual Investor Conferences in partnership with KCSA Strategic Communications today announced the presentations from the KCSA Psychedelics Virtual Investor Conference are now available for on-demand viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download shareholder materials from the company’s “virtual trade booth”.
“Investing in Psychedelics and CNS Treatments” Lindsay Hoover, Partner, JLS Fund Dan Ahrens, PM of the Psychedelics ETF (NYSEArca: PSIL), AdvisorShares Investments Tim Regan, SVP, KCSA Strategic Communications
To facilitate investor relations scheduling, please contact KCSA Strategic Communications a conference@kcsa.com.
About Virtual Investor ConferencesSM Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
About KCSA Strategic Communications KCSA is a fully integrated communications agency specializing in public relations, investor relations and social media, with expertise in financial and professional services, technology, healthcare, digital media and cannabis. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references. For more information, please visit www.kcsa.com.
Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations
NEW YORK, Oct. 18, 2021 /CNW/ – Virtual Investor Conferences in partnership with KCSA Strategic Communications today announced the presentations from the KCSA Psychedelics Virtual Investor Conference are now available for on-demand viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download shareholder materials from the company’s “virtual trade booth”.
To facilitate investor relations scheduling, please contact KCSA Strategic Communications a conference@kcsa.com.
About Virtual Investor ConferencesSM Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
About KCSA Strategic Communications KCSA is a fully integrated communications agency specializing in public relations, investor relations and social media, with expertise in financial and professional services, technology, healthcare, digital media and cannabis. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references. For more information, please visit www.kcsa.com.
SOURCE VirtualInvestorConferences.com
For further information: Media Contact: OTC Markets Group Inc., (212) 896-4428, media@otcmarkets.com; Investor Contacts: John M. Viglotti, SVP Corporate Services, Investor Access, OTC Markets Group, (212) 220-2221, johnv@otcmarkets.com; Tim Regan/Allison Soss, KCSA Strategic Communications,(212) 682-6300, conference@kcsa.com
Cybin Inc. (CYBN) developed a new device that delivers psychedelic medicine through inhalation.
Inhaling psychedelics could be superior to oral administration, as it could result in optimized session timing, lower doses, and greater control for healthcare providers.
The company filed an international patent application for the method and the device, which has potential to gain coverage in 153 countries.
Psychedelic and CNS Company Executives share vision, answer questions live at VirtualInvestorConferences.com
NEW YORK, Oct. 11, 2021 /CNW/ – Virtual Investor Conferences in partnership with KCSA Strategic Communications today announced the agenda for the upcoming KCSA Psychedelics Virtual Investor Conference. Individual investors, institutional investors, advisors, and analysts are invited to attend the two-day program beginning Wednesday, October 13, 2021, at 9:45 a.m. ET.
“The psychedelics industry is poised to provide much needed therapies to address the global mental health crisis. Some of the companies presenting over the next two days may be the next Pfizer, Roche or Sanofi,” commented Lewis Goldberg, Managing Partner at KCSA Strategic Communications.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.
To facilitate investor relations scheduling, please contact KCSA Strategic Communications a conference@kcsa.com.
About Virtual Investor ConferencesSM Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
About KCSA Strategic Communications KCSA is a fully integrated communications agency specializing in public relations, investor relations and social media, with expertise in financial and professional services, technology, healthcare, digital media and cannabis. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for its clients in the ever-changing communications and digital landscape. The firm’s clients are its best references. For more information, please visit www.kcsa.com.
SOURCE VirtualInvestorConferences.com
For further information: Media Contact: OTC Markets Group Inc., (212) 896-4428, media@otcmarkets.com; Investor Contacts: John M. Viglotti, SVP Corporate Services, Investor Access, OTC Markets Group, (212) 220-2221, johnv@otcmarkets.com; Tim Regan/Allison Soss, KCSA Strategic Communications, (212) 682-6300, conference@kcsa.com
Experts predict major growth for this psychedelics stock.
Last week, the financial services firm Cantor Fitzgerald initiated coverage of Cybin Inc. (CYBN).
The stock was just $2.25 per share when the firm gave Cybin a 12-month price target of $9 – a 300% margin.
The analysts believe that Cybin’s proprietary formulation for treating depression which is in phase 2 clinical trials, has great potential for scalability. They explain that Cybin has enough capital to advance its other formulations for anxiety and alcohol use disorder through clinical trials as well.
TORONTO, CANADA – August 19, 2021 – Cybin Inc.(NEO:CYBN) (NYSEAMERICAN:CYBN) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has filed two additional international patent applications that bring the potential to obtain patent coverage in 153 countries for each of the patent applications.
The application, governed by the Patent Cooperation Treaty (“PCT”), grants the Company the right to file future national applications into treaty member jurisdictions, including important potential markets for the Company. The PCTs claim a library of phenethylamine and derivative drug development candidates and methods of use.
One of the PCT applications claims a group of proprietary compounds identified by the Company’s research data as being important for further evaluation toward selection as potential therapeutics. The other PCT application includes claims and disclosures toward several other proprietary novel psychedelic compounds, including compounds with positive research data, meeting the Company’s internal research metrics. The Company believes these applications will further strengthen the CYB005 program, directed to therapy resistant psychiatric disorders, and provide compositions for further evaluation in additional future research programs.
The Company continues to execute upon its three-pillar drug development strategy to create: (a) a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; (b) efficient drug delivery to enhance dosing control; and (c) a potential novel treatment regimen. These PCT applications are intended to provide broad international patent protection of key intellectual property in support of the Company’s strategic objectives.
The Company’s current indications include major depressive disorder (CYB001), alcohol use disorder (CYB003) and anxiety disorders (CYB004). In addition, two programs in the research phase (CYB005 and CYB006) involved synthesis and testing of more than 50 novel compounds coupled with extensive in-vitro and in-vivo pharmacokinetic, receptor binding, behavioral and safety evaluations.
“Cybin is dedicated to finding treatments for therapy resistant psychiatric indications as we believe these will provide patients and their medical providers with new avenues to address this significant unmet need. We appreciate the continued dedication of our team to identify and progress our research phase programs toward pre-clinical evaluation,” said Doug Drysdale, CEO.
About Cybin
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
Cautionary Notes and Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.
TORONTO, CANADA – August 17, 2021 – Cybin Inc.(NEO:CYBN) (NYSEAMERICAN:CYBN) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has filed a new non-provisional patent application in support of its ongoing drug candidate programs.
After what the company believes to be a favorable international search report of its May 2021 Patent Cooperation Treaty (“PCT”) application, the Company has filed a US non-provisional patent application claiming priority to the May 2021 PCT application.
The International Patent Searching authority has provided a written opinion supporting novelty, inventive steps and industrial applicability to multiple claims within Cybin’s patent filing. The Patent filing includes claims to compositions and methods to support certain elements of the company’s pre-clinical and research programs.
“Cybin’s portfolio now consists of 14 patent filings, 50+ proprietary molecules, 50+ pre-clinical studies, 4 active drug programs targeting major depressive disorder, alcohol use disorder, anxiety and therapy resistant psychiatric disorders. We continue to progress our IP portfolio across novel molecules, delivery mechanisms, processes and protocols as we continue to find new and novel discoveries through our pre-clinical findings thus expanding and strengthening IP,” stated Doug Drysdale, Chief Executive Officer.
About Cybin
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
Cautionary Notes and Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding enhanced liquidity, the value of additional capital markets exposure, access to institutional and retail investors, the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.
TORONTO, CANADA – August 16, 2021 – Cybin Inc. (NEO:CYBN) (NYSE AMERICAN:CYBN) (“Cybin” or the “Company”), a biotechnology company focused on psychedelic pharmaceutical therapies, is pleased to announce that Theresa Firestone has been elected to its board of directors at the Company’s annual and special meeting of shareholders held on August 16, 2021 (the “Meeting”).Ms. Firestone is a senior healthcare executive with retail, pharmaceutical, health and wellness, government and global restructuring expertise and the Company is excited to welcome Ms. Firestone to its board of directors.
Cybin is also pleased to announce the voting results for each of the matters presented at the Meeting. There were 53 shareholders represented in person or by proxy at the Meeting holding 45,681,073 common shares, representing 30.77% of Cybin’s total issued and outstanding common shares as at the record date for the Meeting. The voting results for each matter presented at the Meeting is set out below:
1. Appointment of Auditor
Zeifmans LLP was appointed auditor of Cybin until the next annual meeting of shareholders at remuneration to be fixed by the directors of Cybin. Voting results are set out below:
2. Board Number Resolution
The special resolution to set the number of directors of Cybin at six (6) was approved by at least two-thirds of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting. Voting results are set out below:
3. Election of Directors
Each of the nominees for election as director listed in Cybin’s management information circular dated July 19, 2021 were elected as directors of Cybin for the ensuing year or until their successors are elected or appointed. Voting results are set out below:
4. Board Size Authorization
The special resolution to authorize the directors of Cybin to set the number of directors of Cybin between the minimum and maximum provided in Cybin’s articles was approved by at least two-thirds of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting. Voting results are set out below:
5. Approval of Amendments to Equity Incentive Plan
The resolution to approve certain amendments to Cybin’s equity incentive plan was approved by a majority of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting. Voting results are set out below:
6. Approval of Shareholder Rights Plan
The resolution to authorize and approve the adoption of a shareholder rights plan of Cybin was approved by a majority of votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting. Voting results are set out below:
Shareholder Rights Plan
Pursuant to the approval attained at the Meeting, Cybin has adopted a shareholder rights plan (the “Rights Plan”). The objectives of the Rights Plan are to ensure, to the extent possible, that all shareholders and the board of directors have adequate time to consider and evaluate any unsolicited take-over bid for the Company, provide the board with adequate time to evaluate any such take-over bid and explore and develop value-enhancing alternatives to any such take-over bid, encourage the fair treatment of the shareholders in connection with any such take-over bid, and generally assist the board in enhancing shareholder value.
Cybin has entered into the Rights Plan with Odyssey Trust Company and the Rights Plan is effective as of August 16, 2021 (the “Effective Date”). As of 12:01 a.m. on the Effective Date, one right (a “Right”) was issued and attached to each Common Share outstanding at that time. Each Right entitles the registered holder to purchase from the Company one common share for the Exercise Price (as defined in the Rights Plan). In the event of an occurrence of a Flip-in Event (as defined in the Rights Plan), each Right entitles the registered holder to purchase from the Company that number of common shares that have an aggregate Market Price (as defined in the Plan) on the date of consummation or occurrence of such Flip-in Event equal to three times the Exercise Price, in accordance with the terms of the Rights Plan, for an amount in cash equal to the Exercise Price, subject to certain adjustments. The Rights are not exercisable prior to the Separation Time (as defined in the Rights Plan).
The issuance of the Rights will not change the manner in which shareholders trade their common shares. The Rights Plan will be in effect until the termination of the Company’s annual meeting in 2024 unless reapproved by shareholders at that time.
The Rights Plan was not proposed in response to, or in anticipation of, any pending, threatened or proposed acquisition or take-over bid. The directors did not adopt the Rights Plan to deter take-over proposals.
The description of the Rights Plan in this press release is qualified in its entirety by the full text of the Rights Plan, which will be made available shortly under the Company’s profile on SEDAR at www.sedar.com.
About Cybin
Cybin is a leading biotechnology company focused on researching and progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and potential treatment regimens for psychiatric disorders.
Cautionary Notes and Forward Looking Statements
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Cybin’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. Forward looking statements in this news release include statements regarding the achievement of the objectives of the Rights Plan. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the psychedelics market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions in the markets where the Company operates; and the risk factors set out in the Company’s management’s discussion and analysis for the period ended June 30, 2021 and the Company’s listing statement dated November 9, 2020, which are available under the Company’s profile on www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
The Neo Exchange Inc. has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.
Unless otherwise indicated, all dollar amounts in this news release are expressed in Canadian dollars.
— Boosts current cash position to C$82.5M to progress clinical pipeline and business initiatives —
TORONTO,CANADA – August13, 2021 – Cybin Inc. (NEO:CYBN) (NYSE AMERICAN:CYBN)
(“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, announces the unaudited financial results for the three-month period ended June 30, 2021. A copy of the Company’s unaudited interim condensed consolidated financial statements prepared in accordance with International Financial Reporting Standards and the related management’s discussion and analysis for the three month period ended June 30, 2021, can be found under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.
Recent Business Highlights:
Became the first psychedelic company to list on the NYSE American LLC stock exchange on August 5, 2021 under the symbol “CYBN”;
Raised over C$120M with the inclusion of the Company’s latest equity financing round in August 2021, which successfully raised over C$34M;
Announced achievement of certain milestones by Adelia Therapeutics Inc., a wholly-controlled subsidiary of Cybin, for Year 1 Q3 (i)-(iii), and Year 1 Q4 (i) and (iii), as contemplated by the terms of a contribution agreement dated December 4, 2020;
Initiated the next phase of the Company’s digital therapeutics platform which is expected to better enable the evaluation of patient outcomes through a highly secure, patient-centered data analytics platform for pre- and post-psychedelic treatments;
Commenced scale up of the Company’s European operations and research activities with various academic and clinical research organizations, including the transfer of its intellectual property assets to its recently formed wholly-owned Ireland subsidiary;
Expanded patent portfolio to 13 patent filings which cover, amongst other things, novel psychedelic compounds, integration of delivery platforms, methods of use in psychiatric indications, drug discovery pipeline of modified and novel ergolines, tryptamines and phenethylamines;
Entered into an exclusive research and development collaboration agreement with TMS NeuroHealth Centers Inc. (the “Collaboration Agreement”), a wholly-owned subsidiary of Greenbrook TMS Inc. (TSX:GTMS) (NASDAQ:GBNH) (“Greenbrook”). Greenbrook operates 129 outpatient mental health service centers in the United States. Under the Collaboration Agreement, Cybin and Greenbrook will work together to establish Mental Health Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression.
Doug Drysdale, CEO of Cybin stated, “during the past several months, Cybin has garnered a great deal of attention as an emerging leader in the psychedelic therapeutics space. We believe the molecules we have under development may have the potential to transform the treatment landscape and fill current unmet treatment needs for various psychiatric and neurological conditions. We look forward to sharing updates as we advance our pre-clinical and clinical programs and continue the scientific exploration that we believe will ultimately provide safer and more effective treatments for those suffering with mental illness and addiction issues.”
Q1 Financial Highlights
Cash and cash equivalents totaled C$55.1 million as of June 30, 2021; and
Net loss was C$14.7 million for the quarter ended June 30, 2021 of which non-cash expenses totaled C$5.6 million and cash-based operating expenses totaled C$9.1 million.
About Cybin
Cybin is a leading biotechnology company focused on researching and progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and potential treatment regimens for psychiatric disorders.
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company’s development of innovative drug delivery systems, the Company’s expectations of the molecules under development, the development of Mental Health Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression pursuant to the Collaboration Agreement, and the Company’s expectations of its digital therapeutics platform.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the psychedelics market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations;
the presence of laws and regulations that may impose restrictions in the markets where the Company operates; and the risk factors set out in each of the Company’s management’s discussion and analysis for the three month period ended June 30, 2021, the Company’s annual information form for the year ended March 31, 2021, and the Company’s listing statement dated November 9, 2020, which are available under the Company’s profile on www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward- looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward- looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
The Neo Exchange Inc. has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.
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For further information: Media Contact: OTC Markets Group Inc., (212) 896-4428, media@otcmarkets.com; Investor Contacts: John M. Viglotti, SVP Corporate Services, Investor Access, OTC Markets Group, (212) 220-2221, johnv@otcmarkets.com; Tim Regan/Allison Soss, KCSA Strategic Communications,(212) 682-6300, conference@kcsa.com
