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Greenbrook TMS Announces Dates for Its Fourth Quarter and Year End 2021 Financial Results

Greenbrook TMS Announces Dates for Its Fourth Quarter and Year End 2021 Financial Results

TORONTO — Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”), will release its 2021 fourth quarter and year end operational and financial results after market hours on March 31, 2022.

FOURTH QUARTER AND YEAR END 2021 CONFERENCE CALL DETAILS:

Bill Leonard, President and Chief Executive Officer, and Erns Loubser, Chief Financial Officer, will host a conference call at 10:00 a.m. (Eastern Time) on April 1, 2022 to discuss the financial results for the quarter.

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Dial in Numbers:

Toll Free North America: (866) 521-4909
Toronto: (647) 427-2311

Webcast:

For more information or to listen to the call via webcast, please visit:
www.greenbrooktms.com/investors/events.htm

For those that plan on accessing the conference call or webcast, please allow ample time prior to the call time.

Conference Call Replay:

Toll Free (North America): (800) 585-8367
Toronto: (416) 621-4642
Conference ID: 6080804

The conference call replay will be available from 1:00 p.m. ET on April 1, 2022, until 11:59 p.m. ET on May 1, 2022.

About Greenbrook TMS Inc.

Operating through 148 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 730,000 TMS treatments to over 20,000 patients struggling with depression.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005732/en/

Contacts

Glen Akselrod
Investor Relations
Greenbrook TMS Inc.

Contact Information:
investorrelations@greenbrooktms.com
1-855-797-4867

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Greenbrook TMS Provides Corporate Update

Greenbrook TMS Provides Corporate Update

TORONTO–(BUSINESS WIRE)–Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”) announced today that Roberto Drassinower will be stepping down from his role as Chief Operating Officer of the Company, effective immediately, but will continue to provide advisory services to the Company pursuant to the terms of a consulting agreement with the Company.

“I am excited to continue supporting Greenbrook and Bill Leonard in our growth strategy for the business while being able to take time to spend with my family.”

Mr. Drassinower commented: “I am excited to continue supporting Greenbrook and Bill Leonard in our growth strategy for the business while being able to take time to spend with my family.”

About Greenbrook TMS Inc.

Operating through 149 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 730,000 TMS treatments to over 20,000 patients struggling with depression.

Cautionary Note Regarding Forward-Looking Information

Certain information in this press release constitutes forward-looking information within the meaning of applicable securities laws in Canada and the United States, including the United States Private Securities Litigation Reform Act of 1995. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the factors described in greater detail in the “Risk Factors” section of the Company’s current annual information form, in the “Risks and Uncertainties” section of the Company’s current management’s discussion and analysis and in the Company’s other materials filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Glen Akselrod
Investor Relations
Greenbrook TMS Inc.

Contact Information:
investorrelations@greenbrooktms.com
1-855-797-4867

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Cybin Provides 2021 Year End Summary

Cybin Provides 2021 Year End Summary

TORONTO–(BUSINESS WIRE)– Cybin Inc. (NEO:CYBN) (NYSE American:CYBN) (“Cybin” or the “Company”), a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics™” is pleased to provide a year-end summary of its major milestones and key catalysts from 2021 that it believes have positioned the Company for a transformative 2022.

“2021 was an exciting year for Cybin. We expanded our organization from 5 to more than 55 employees across 4 countries and have established an operating ecosystem of nearly 50 partners and vendors that have supported more than 90 preclinical studies and numerous patent and investigational new drug filings over the past 12 months,” said Doug Drysdale, Cybin’s Chief Executive Officer. “Driven by promising and differentiating preclinical data, our innovative operational and R&D pipeline platforms expect to support 4 first-in-human clinical studies in 2022, which we hope will progress our proprietary psychedelic development candidates CYB003 and CYB004 closer toward potential approval for treating depression and addiction disorders. We believe 2022 will be a truly transformative year for Cybin.”

2021 Business Highlights:

  • Awarded Notice of Allowance from U.S. Patent and Trademark Office for CYB004 (deuterated psychedelic tryptamine) for the treatment of anxiety disorders;
  • Confirmed Scientific Advice Meeting with UK Medical and Healthcare Products Regulatory Agency for lead candidate CYB003 for the treatment of major depressive disorder and alcohol use disorder;
  • Announced FDA Investigational New Drug and Institutional Review Board Approvals for a co-funded investigator-initiated Phase 2 clinical trial evaluating psychedelic-assisted psychotherapy to treat frontline clinicians experiencing COVID-related distress utilizing the EMBARK psychedelic facilitator training program;
  • Awarded Grant for Psychedelic Treatment Clinic to Lenox Hill Hospital to benefit underserved communities. Lenox Hill Hospital, part of Northwell Health is the largest healthcare system in New York State;
  • Announced Positive CYB003 Data demonstrating significant advantages over oral psilocybin for the treatment of mental health disorders. The Company’s deuterated psilocybin analog from its CYB003 program demonstrated a 50% reduction in variability compared to oral psilocybin, a 50% reduction in dose compared to oral psilocybin, a 50% shorter time to onset when compared to oral psilocybin and nearly double brain penetration when compared to oral psilocybin;
  • Granted a Schedule I Manufacturing License from the U.S. Drug Enforcement Agency for the Company’s Boston-area research lab that is expected to allow the Company to expand its internal research and development capabilities;
  • Received Approval from FDA for its Investigational New Drug Application to proceed with a Company-sponsored feasibility study using the Kernel Flow quantitative neuroimaging technology to measure ketamine’s psychedelic effect on cerebral cortex hemodynamics;
  • Launched the EMBARK Psychedelic Facilitator Training Program in collaboration with the University of Washington in preparation for the first clinical trial of psilocybin-assisted psychotherapy to address COVID-19 related distress in frontline healthcare professionals;
  • Completed 74 In-Vitro and In-Vivo Evaluations of the Company’s expanding portfolio of psychedelic compounds being designed for potential therapeutic applications for several mental health conditions. To date, more than 50 novel compounds have been evaluated;
  • Signed Drug Development Agreement with Catalent which employs around 15,000 people, including approximately 2,400 scientists and technicians, at more than 45 facilities;
  • Retained Former FDA Psychiatry Division Director Dr. Thomas Laughren as a Clinical Advisory Board Member;
  • Expanded Operations into Europe and announced the appointment of Dr. Amir Inamdar as Chief Medical Officer for its European Operations;
  • Became the First Psychedelic Company to list on the NYSE American;
  • Raised Nearly $70M through a bought-deal offering and overnight market financing taking the total capital raise since the company’s inception to over $120M;
  • Initiated Next Phase of Company’s Digital Therapeutics Platformwhich will better enable the evaluation of patient outcomes through a highly secure, patient-centered data analytics platform for better 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;
  • Announced Alcohol Use Disorder and Anxiety Disorders as New Target Indications alongside the Company’s previously announced major depressive disorder target indications;
  • Expanded patent portfolio tocover, among 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 Exclusive Research and Development Collaboration agreement with TMS NeuroHealth Centers Inc., a wholly-owned subsidiary of Greenbrook TMS Inc. (TSX:GTMS) (NASDAQ:GBNH), which operates 129 outpatient mental health service centers in the United States.

About Cybin
Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, United Kingdom and Ireland. The Company is focused on progressing Psychedelics to Therapeutics™ by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders. Patent filings described herein are held by Cybin IRL Limited, a wholly owned subsidiary of Cybin.

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 Company’s proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens to potentially treat psychiatric disorders.

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 September 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. 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 can diagnose, treat, cure or prevent any disease or condition. Rigorous 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.

Neither the Neo Exchange Inc. nor the NYSE American LLC stock exchange have approved or disapproved the contents of this news release and are not responsible for the adequacy and accuracy of the contents herein.

Investor & Media:
Leah Gibson
Vice President, Investor Relations
Cybin Inc.
leah@cybin.comSource: Cybin Inc.

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A better way to get drunk: issue 21

Here’s what’s in store for you in today’s issue:

🍄 The future of psychedelics, according to an expert

🍄 A better way to get drunk

🍄 A first-of-its-kind severe anxiety study

🍄 The race for a dementia treatment

🍄 And more.

Be sure to check out this week’s Daily Mushroom podcast:

The DMT Cure to Chronic Pain and PTSD

Kieran, a retired black ops vet who magically cured his neck pain with a wild DMT trip. Kieran talks about being in a constant stress state while serving and how psychedelics help him cope with ongoing PTSD.

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A better way to get drunk

This psychedelic makes you feel drunk. Could it be used to treat alcoholism?

5-Methoxy-2-aminoindane (MEAI) is a synthetic molecule that simulates the euphoric feeling of alcohol while reducing the desire to drink.

Pre-clinical studies conducted by Clearmind Medicine Inc. (CMND) show promising evidence that MEAI could treat alcohol use disorder (AUD) and binge drinking. Clinical trials are expected to begin in the second half of 2022. 

The company just signed a development and supply agreement with Aragen Life Sciences to manufacture the molecule.

First-of-its-kind study on severe anxiety

Monash University just got the go-ahead to conduct a first-of-its-kind study!

Yesterday, the Australian university received ethics approval for a triple-blinded, active-placebo-controlled study that will investigate psilocybin-assisted psychotherapy as a treatment for severe Generalized Anxiety Disorder (GAD).

Researchers are looking to recruit 72 patients for the study, which will be conducted in partnership with Incannex Healthcare Ltd (IHL).

The therapists facilitating the study will have the option to undergo their own psilocybin session to better understand what the patients will experience.

Does neuroplasticity benefit healthy people too?

Psychedelics clearly have a huge impact on people with mental health issues, but how do they impact people who are already mentally healthy? A new research project at University College London will give us more insights!

After two years of planning, the university is launching the “Understanding Neuroplasticity Induced by Tryptamines” or UNITy Project.

UNITy Project will use fMRI scans, eye-tracking, and experience sampling to understand how the naturally functioning brain responds to various tryptamines (psychedelics that bind to serotonin receptors, such as psilocybin).

The first study will evaluate how DMT affects language processing, sensory processing, and memory in both healthy participants and heavy drinkers, and if neuroplasticity drives the results.

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The future of psychedelics, according to this pioneering researcher

Rick Doblin, a pioneering psychedelic researcher and activist, made some interesting predictions about the future of psychedelics in the US:

  • MDMA will be FDA-approved by the end of 2023, with psilocybin following a year or two after.
  • By 2023 or 2024, there will be 6000+ psychedelic therapy clinics (there are currently about 1000). Every town with a hospice center will have enough demand for a psychedelic clinic.
  • By 2030, one million MDMA therapy sessions will have been administered by 25,000 trained therapists.
  • A licensed legalization model could be implemented around 2035 in which patients can earn a license to use psychedelics outside the clinic once undergoing a supervised session.

Doblin is hopeful that the tremendous impacts on mental health will result in a spiritualized society that “has finally come to the point of embracing global thinking, global humanity, and dealt with economic inequity.”

Donation heals traumatized children

“We’re all traumatized children running around in adult bodies, and (psychedelic) medicines can help us all,” according to venture capitalist Sanjay Singhal.

That’s why his charity donated $5 million to launch The Nikean Psychedelic Psychotherapy Research Centre at Toronto’s University Health Network (UHN).

The centre will study psilocybin therapy as a treatment for terminally-ill patients, patients with body dysmorphia, families who have lost a child, and grieving caregivers. It will also study 5-MeO-DMT as a PTSD treatment and will train therapists to administer psychedelic therapy.

Singhal, who was diagnosed with bipolar disorder in his 30s, was inspired to fund psychedelic research after a psilocybin trip helped him break down his emotional walls and fix his relationships.

Can shrooms make you a better leader?

Magic mushrooms may have been the key to this NHL legend’s success.

Mark Messier, the only NHL player to lead two different teams to Stanley Cup championships, said that a magic mushroom trip at age 19 sparked his interest in spirituality and the power of the mind.

“I had no idea the mind was that powerful. Obviously it turned out to be an amazing experience, but more important was the question afterwards: wow, how can I use my mind to empower myself to be a better player, to be a better person, to have more energy, to create a better aura?”

The trip inspired Messier to learn about Eastern philosophies, Buddhism, Indigenous spirituality, and meditation, which had a major influence on him both as a player and a leader.

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Tripping on an island to help frontline workers

Cybin (CYBN) is sending therapists on a psychedelic retreat so they can learn how to provide support to frontline healthcare workers.

Clinical trial facilitators will head to a small island in Washington to be trained on Cybin’s new EMBARK therapy model and gain experiential knowledge of psychedelics. The EMBARK model combines aspects of several psychotherapy models and incorporates patients’ spiritual experiences, bodily experiences, and relationships into the healing process.

The retreat will prepare the facilitators for an upcoming clinical trial at the University of Washington that aims to treat healthcare workers suffering from COVID-related distress, depression, anxiety, and PTSD.

Optimizing the DNA of plant medicines 

Delic Labs of Delic Corp (DELC) is partnering with GT Research Inc. to help mushroom and cannabis producers optimize their products. 

Through the deal, Delic Labs will use DNA analysis to evaluate the commercial value of different cannabis and psychedelic mushroom strains based on certain gene traits. The services will help Canadian producers optimize their compounds through genetic engineering to produce more effective plant medicines.

Which company will develop a dementia treatment first?

If treatments don’t improve, the number of Americans battling Alzheimer’s is expected to nearly triple by 2050 — reaching $1.1 trillion in care costs.

Fortunately, two more companies joined the race to develop a new treatment using psychedelics!

On Tuesday, MYND Life Sciences (MYND) acquired IP rights from Cava Healthcare Inc. for dementia treatments using psilocybin and other psychedelics. It received the assets in exchange for 450,000 shares at $0.85 each, plus $120,000 and an annual royalty fee.

Silo Pharma Inc. (SILO) also joined the race this week through a sponsored research agreement. The company will work with Columbia University to develop a psychedelic treatment that could halt or reverse Alzheimer’s.

Researching ADHD treatments in Korea

These companies are joining forces to develop unique treatments for a range of debilitating conditions.

Agtech Global International Inc. (AGGL) and  KRTL Biotech Inc. are partnering to develop CBD and psilocybin-based medicines to treat conditions like ADHD, pain from cancer, autism, PTSD, depression, and addiction.

The agreement will leverage KRTL’s team of researchers in the US and Korea, where they have already received the Korean equivalent of FDA approval to study the compounds.

Several other companies are supporting the research project including Here To Serve Holding Corp. (HTSC) and Pervasip Corp. (PVSP).

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Here’s what you missed:

  • Next Tuesday, Detroit will vote on a bill to decriminalize possession and therapeutic use of entheogens including psilocybin mushrooms, ayahuasca, and peyote. Read more…
  • A DC non-profit called The Plant Medicine Coalition issued $50K in grants to community organizations that promote psychedelic education and reform thanks to donations from Dr. Bronner’s soap company. Read more…
  • Dr. Bronner’s is also funding a lobbyist group that’s working to legalize psilocybin for therapeutic uses in Connecticut. Read more…

Industry Quick Hits

Oct 25 – HAVN Life (HAVN) Announces Departure Of Rick Brar As Director Read more…

Oct 26 – Nova Mentis (NOVA) Earns Psilocybin Orphan Drug Designation in Europe for Fragile X Syndrome Read more…

Oct 27 – Mindset Pharma (MSET) Reports Fiscal Year 2021 Financial Results and Provides Corporate Update Read more…

Oct 27 – PharmaTher (PHRM) Provides Business Update and Releases Financial Results for the First Quarter of Fiscal 2022 Read more…

Oct 28 – Blackhawk Growth’s (BLR) Subsidiary MindBio Therapeutics Appoints Patrick Moher as Advisor Read more…

Oct 28 – Greenbrook TMS (GTMS) Announces Dates For Its Third Quarter 2021 Financial Results Read more… 

Oct 28 – MYND Life Sciences (MYND) Announces Appointment of New Director Read more…

Oct 29 – Blackhawk Growth (BLR) Files Fiscal Year Ended June 30, 2021 Financial Reports Read more…

Video of the Week

Trip with your breath: Intro to holotropic breathwork

Playlist of the Week

Lo-Fi | psychedleia
jack O' lantern mushroom
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Cybin Inc. Announces 2021 First Quarter Financial Results and Business Highlights

— 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.

Cautionary Note Regarding 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 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.

‍

Investor Contacts:

Tim Regan/Scott Eckstein

KCSA Strategic Communications Cybin@kcsa.com

‍

Lisa M. Wilson

In-Site Communications, Inc. lwilson@insitecony.com

‍

Media Contact:

John Kanakis Cybin Inc.

John@cybin.com

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GREENBROOK TMS REPORTS SECOND QUARTER OPERATIONAL AND FINANCIAL RESULTS

August 5, 2021 – Toronto, Ontario – Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”), today announced its second quarter 2021 (“Q2 2021”) operational and financial results. All values in this news release are in United States dollars, unless otherwise stated.

 

SECOND QUARTER 2021 OPERATIONAL AND FINANCIAL HIGHLIGHTS

  • Quarterly revenue increased by 40% to a record high of $13.7 million as compared to the second quarter of 2020 (“Q2 2020”) and by 21% compared to the first quarter of 2021 (“Q1 2021”). Revenue for the six-month period ended June 30, 2021 (“YTD 2021”) increased by 18% to $25.0 million, as compared to the six-month period ended June 30, 2020 (“YTD 2020”).
  • Quarterly treatment volumes increased by 37% to a record high of 58,219 as compared to Q2 2020 and 12% as compared to Q1 2021. New patient starts increased by 36% to a record high of 1,659 as compared to Q2 2020 and by 27% to 3,242 in YTD 2021 as compared to YTD 2020, which points to encouraging growth prospects.
  • A return to entity-wide regional operating profitability with operating income of $0.9 million in Q2 2021 as compared to a loss of $0.2 million in Q2 2020 and a loss of $1.5 million in Q1 2021.
  • Loss for the period and comprehensive loss decreased by 31% in Q2 2021 to $6.7 million as compared to Q2 2020, and increased by 4% to $14.6 million during YTD 2021 as compared to YTD
  • On June 14, 2021, the Company completed a non-brokered private placement of 2,353,347 common shares (“Common Shares”) at an offering price of $10.00 per Common Share for aggregate gross proceeds of approximately $23.5
  • Added three newly active TMS centers (“TMS Centers”) during Q2 2021, with an additional seven TMS Centers in development, bringing the total Company TMS Center network to 129 TMS Centers as at June 30, 2021. We believe our development pipeline remains robust and primed for further
  • Based on the promising findings from the Spravato® (esketamine nasal spray) pilot program, we intend to expand offering Spravato® at an additional 8 TMS Centers, for a total of 13 TMS

 

Bill Leonard, President and Chief Executive Officer of Greenbrook commented:

 

“We are proud to announce our highest quarterly consolidated revenue results to date, driven by record quarterly treatment volumes. We also achieved a strong return to entity-wide regional operating profitability and we experienced a record quarterly high in new patient starts, which we anticipate will be a catalyst for future growth. We intend to continue the roll-out of the Spravato® Pilot Program, building on our long- term business strategy of utilizing our network of TMS Centers and affiliated physicians as a service delivery platform for the delivery of innovative treatments to patients suffering from Major Depressive Disorder and other mental health disorders.”

 

SELECTED SECOND QUARTER FINANCIAL AND OPERATING RESULTS (1)

Selected Financial Results

 

 

 

(US$) (unaudited) Q2 2021   Q2 2020   YTD 2021   YTD 2020
Total revenue 13,707,212   9,788,555   25,020,387   21,209,057
Regional operating income (loss) 921,339   (225,198)   (570,779)   514,598
Loss before income taxes (6,738,489)   (9,734,642)   (14,574,655)   (13,975,438)
Loss for the year and comprehensive loss (6,738,489)   (9,734,642)   (14,574,655)   (13,975,438)
Loss attributable to the common shareholders of Greenbrook (6,775,825)   (9,477,505)   (14,402,379)   (13,635,778)
Net loss per share (basic and diluted)(2) (0.48)   (0.76)   (1.04)   (1.13)

Notes:

  • Please note that additional selected consolidated financial information can be found at the end of this press
  • On January 12, 2021, the shareholders of the Company approved a special resolution for an amendment to the Company’s articles and authorized a consolidation (the “Share Consolidation”) of the Company’s outstanding Common Shares on the basis of one (1) post- consolidation Common Share for every five (5) pre-consolidation Common Shares. The Share Consolidation was completed on February 1, The Company has retrospectively presented net loss per share calculations reflecting the number of Common Shares outstanding after giving effect to the Share Consolidation.

 

Selected Operating Results

 

  As at June 30,   As at June 30,   As at December 31,
(unaudited)          
  2021   2020   2020
Number of active TMS Centers(1) 122   113   116
Number of TMS Centers-in-development(2) 7   12   9
Total TMS Centers 129   125   125
Number of management regions 13   13   13
Number of TMS Devices installed 209   189   198
Number of regional personnel 343   275   305
Number of shared-services / corporate personnel(3) 51   44   49
Number of TMS providers(4) 124   112   117
Number of consultations performed(5) 7,124   4,435   11,305
Number of patient starts(5) 3,242   2,544   5,445
Number of treatments performed(5) 110,345   90,551   195,992
Average revenue per treatment(5) $227   $234   $220

Notes:

  • Active TMS Centers represent TMS Centers that have performed billable TMS services during the applicable
  • TMS Centers-in-development represents TMS Centers that have committed to a space lease agreement and the development process is substantially
  • Shared-services / corporate personnel is disclosed on a full-time equivalent The Company utilizes part-time staff and consultants as a means of managing costs.
  • Represents physician partners that are involved in the provision of TMS therapy services from our TMS
  • Figure calculated for the applicable period

 

For more information, please refer to the Management’s Discussion & Analysis of Financial Condition and Results of Operations (“MD&A”) and the unaudited condensed interim consolidated financial statements of the Company for the three and six months ended June 30, 2021 and 2020. These documents will be available on the Company’s website at www.greenbrooktms.com, under the Company’s SEDAR profile at www.sedar.com and under the Company’s EDGAR profile at www.sec.gov.

 

CONFERENCE CALL AND WEBCAST

 

Second Quarter Conference Call Details:

 

 

 

Bill Leonard, President and Chief Executive Officer, and Erns Loubser, the Chief Financial Officer, will host a conference call at 10:00 a.m. (Eastern Time) on August 6, 2021 to discuss the financial results for the quarter.

Toll Free North America: 1-866-521-4909 Toronto: 647-427-2311

Webcast:

For more information or to listen to the call via webcast, please visit: www.greenbrooktms.com/investors/events.htm

 

For those that plan on accessing the conference call or webcast, please allow ample time prior to the call time.

 

Conference Call Replay:

 

Toll Free (North America): 1-800-585-8367 Toronto: 416-621-4642

Passcode: 6948083

The conference call replay will be available beginning at 1:00 p.m. ET on August 6, 2021.

 

About Greenbrook TMS Inc.

 

Operating through 129 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 675,000 TMS treatments to over 19,000 patients struggling with depression.

 

For further information please contact:

 

Glen Akselrod Investor Relations Greenbrook TMS Inc.

 

Contact Information:

investorrelations@greenbrooktms.com 1-855-797-4867

 

Cautionary Note Regarding Forward-Looking Information

 

Certain information in this press release, including with respect to the Company’s future financial or operating performance and the Company’s expectations regarding the expansion of the Spravato® pilot program, constitute forward-looking information within the meaning of applicable securities laws in Canada and the United States, including the United States Private Securities Litigation Reform Act of 1995. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or

 

 

 

results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

 

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s current annual information form and in the Company’s other materials filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

 

Cautionary Note Regarding Non-IFRS Measures

 

This press release makes reference to certain non-IFRS measures including certain metrics specific to the industry in which we operate. These measures are not recognized measures under International Financial Reporting Standards (“IFRS”), do not have a standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures are not intended to represent, and should not be considered as alternatives to, loss attributable to the common shareholders of Greenbrook or other performance measures derived in accordance with IFRS as measures of operating performance or operating cash flows or as a measure of liquidity. In addition to our results determined in accordance with IFRS, we use non-IFRS measures including, “EBITDA” and “Adjusted EBITDA”. These non-IFRS measures and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. See the Company’s MD&A for a further discussion of these non- IFRS financial measures. Additionally, see the Company’s MD&A, along with the Company’s Management’s Discussion and Analysis of Financial Condition and Results of Operations for the year ended December 31, 2020 and December 31, 2019 and the quarters ended September 30, 2020 and

September 30, 2019, and March 31, 2021 and March 31, 2020, for a reconciliation of EBITDA and Adjusted EBITDA to loss attributable to the common shareholders of Greenbrook for each of the periods shown in the table below.

 

 

 

SELECTED CONSOLIDATED FINANCIAL INFORMATION

 

 

(US$) Q2 2021

(unaudited)

   Q2 2020

(unaudited)

   YTD 2021

(unaudited)

   YTD 2020

(unaudited)
Total revenue 13,707,212   9,788,555   25,020,387   21,209,057

 

 

 

 

Direct center and patient care costs 6,854,000   5,166,153   13,214,023   11,047,442
Regional employee compensation 3,068,947   2,323,340   6,055,262   4,849,530
Regional marketing expenses 1,401,295   1,087,698   3,385,916   1,954,800
Depreciation 1,461,631   1,436,562   2,935,965   2,842,687
Total direct center and regional costs 12,785,873   10,013,753   25,591,166   20,694,459
Regional operating income (loss) 921,339   (225,198)   (570,779)   514,598
Center development costs 182,974   140,861   463,407   370,368
Corporate employee compensation 3,670,679   2,398,594   6,557,263   5,022,025
Corporate marketing expenses 181,799   298,237   342,833   603,685
Other corporate, general and administrative expenses  

1,971,005

    

437,342

   3,639,469   1,384,959
Share-based compensation 203,362   175,447   409,332   284,852
Amortization 115,833   115,833   231,666   231,666
Interest expense 1,334,187   694,208   2,362,099   1,352,042
Interest income (11)   (1,078)   (2,193)   (9,561)
Earn-out consideration –   5,250,000   –   5,250,000
Loss before income taxes (6,738,489)   (9,734,642)   (14,574,655)   (13,975,438)
Income tax expense –   –   –   –
Loss for the period and comprehensive loss (6,738,489)   (9,734,642)   (14,574,655)   (13,975,438)
Loss attributable to non-controlling interest 37,336   (257,137)   (172,276)   (339,660)
Loss attributable to the common shareholders of Greenbrook          (6,775,825)            (9,477,505)   (14,402,379)   (13,635,778)
Net loss per share (basic and diluted) (1) (0.48)   (0.76)   (1.04)   (1.13)

Note:

(1) The Company has retrospectively presented net loss per share calculations reflecting the number of Common Shares outstanding after giving effect to the Share Consolidation.

 

 

 

(US$) Q2 2021   Q1 2021   Q4 2020   Q3 2020   Q2 2020   Q1 2020   Q4 2019   Q3 2019
(unaudited)                              
Revenue 13,707,212   11,313,175   9,913,552   12,006,570   9,788,555   11,420,502   12,536,671   8,459,103
Regional operating income (loss)(1) 921,339   (1,492,118)   (2,050,168)   967,584   (225,198)   739,796   2,056,836   770,813
Net loss attributable to common shareholders of Greenbrook (6,775,825)   (7,626,554)   (8,391,630)   (7,636,132)   (9,477,505)   (4,158,274)   (7,034,356)   (3,431,009)
Adjusted EBITDA (2,705,666)   (4,013,910)   (4,223,446)   (937,073)   (1,665,672)   (1,648,053)   (1,296,201)   (1,033,876)
Net loss per share – Basic(2) (0.48)   (0.56)   (0.60)   (0.57)   (0.76)   (0.39)   (0.62)   (0.31)
Net loss per share – Diluted(2) (0.48)   (0.56)   (0.60)   (0.57)   (0.76)   (0.39)   (0.62)   (0.31)

 

Notes:

  • Regional operating income (loss) for the fourth quarter ended December 31, 2019 has been updated to exclude
  • The Company has retrospectively presented net loss per share calculations reflecting the number of Common Shares outstanding after giving effect to the Share
Posted on

GREENBROOK TMS ANNOUNCES APPOINTMENT OF ROBERT HIGGINS TO THE BOARD

August 3, 2021 – Toronto, Ontario – Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”) is pleased to announce the appointment of Robert Higgins to the board of directors of the Company (the “Board”), effective immediately. The appointment of Mr. Higgins increases the size of the Board to nine members.

 

Mr. Higgins is currently Managing Director, Investment Professional & General Counsel of Masters Special Situations, LLC (“MSS”), a healthcare focused growth equity firm which he co-founded in 2020. Prior to co-founding MSS, Mr. Higgins was Vice President, Business Development & General Counsel of Arosa+LivHOME, a Bain Capital Double Impact Portfolio Company, and a premier national provider of integrated care management and caregiving services. Prior to his time with Arosa+LivHOME, Mr. Higgins held a variety of both investment and legal roles, including as an investment adviser in the Investment Management Division of Goldman Sachs and as a corporate attorney at Sidley Austin LLP. Mr. Higgins holds a bachelor’s degree from Duke University and a master’s degree from the London School of Economics. He earned his J.D., cum laude, from Washington University in St. Louis School of Law and is a member of the New York State Bar.

 

About Greenbrook TMS Inc.

Operating through 129 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 620,000 TMS treatments to over 17,000 patients struggling with depression.

 

For further information please contact:

 

Glen Akselrod Investor Relations Greenbrook TMS Inc.

 

Contact Information: investorrelations@greenbrooktms.com 1-855-797-4867

Posted on

GREENBROOK TMS ANNOUNCES DATES FOR ITS SECOND QUARTER 2021 FINANCIAL RESULTS

July 21, 2021 – Toronto, Ontario – Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”), will release its second quarter 2021 operational and financial results after market hours on August 5, 2021.

 

SECOND QUARTER 2021 CONFERENCE CALL DETAILS

 

Bill Leonard, President and Chief Executive Officer, and Erns Loubser, Chief Financial Officer, will host a conference call at 10:00 a.m. (Eastern Time) on August 6, 2021 to discuss the financial results for the quarter.

 

Dial in Numbers:

 

Toll Free North America: (866) 521-4909

Toronto: (647) 427-2311

 

Webcast:

 

For more information or to listen to the call via webcast, please visit: https://www.greenbrooktms.com/investors/events

 

For those that plan on accessing the conference call or webcast, please allow ample time prior to the call time.

 

Conference Call Replay:

 

Toll Free (North America): (800) 585-8367

Toronto: (416) 621-4642

Conference ID: 6948083

 

The conference call replay will be available from 1:00 p.m. ET on August 6, 2021, until 11:59 p.m. ET on September 6, 2021.

 

About Greenbrook TMS Inc.

 

Operating through 130 Company-operated treatment centers, Greenbrook is a leading provider of TMS therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 620,000 TMS treatments to over 17,000 patients struggling with depression.

 

For further information please contact:

 

Glen Akselrod Investor Relations Greenbrook TMS Inc.

 

– 2 –

 

 

Contact Information: investorrelations@greenbrooktms.com 1-855-797-4867

Posted on

Cybin scales operations in Europe and expands IP

Cybin Expands to Europe and Provides Update on Intellectual Property Portfolio

After partnering with Greenbrook TMS last week, an operator of 129 mental health service centers in the US, Cybin continues to make big moves. The Toronto-based company announced that it will be transferring its intellectual property assets to a new wholly-owned subsidiary in Ireland as part of its European expansion plan. The company also filed its 13th provisional patent application for a digital therapeutics platform, which will use data analytics to improve patient outcomes in pre and post psychedelic treatments. 

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