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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating on Cybin Inc. (NYSE:CYBN), a $154.7 million market cap biotech company that InvestingPro analysis suggests is currently undervalued. The firm is highlighting what it describes as a "major shift unfolding in psychiatry" with psychedelics emerging as a potential new therapeutic class.
The research firm emphasized Cybin’s lead candidate CYB003, an oral deuterated psilocin with Breakthrough Designation status, which is being developed as an adjunctive therapy for major depressive disorder (MDD). The company maintains a strong liquidity position with a current ratio of 9.87, though InvestingPro data indicates rapid cash burn requires monitoring.
Cantor Fitzgerald noted that Phase 2 proof-of-concept data suggests a two-dose treatment regimen of CYB003 results in "efficacious and durable response," potentially shifting the MDD treatment paradigm from chronic to intermittent dosing.
The firm believes successful replication in Phase 3 trials could establish CYB003 as an intermittent, adjunctive therapy that enhances outcomes for patients on standard-of-care SSRIs, with potential expansion into other psychiatric disorders including generalized anxiety disorder and PTSD.
Cantor Fitzgerald views the MDD market as a "multi-$B opportunity" where even capturing a small fraction of patients could translate to significant revenue for Cybin. This potential is reflected in the strong analyst consensus, with InvestingPro showing additional metrics and insights available for subscribers looking to deep-dive into Cybin’s growth prospects.
In other recent news, Cybin Inc . has made significant progress in its clinical trials and received analyst attention. The company has completed enrollment of 36 participants in its Phase 2 study of CYB004, a deuterated dimethyltryptamine (DMT) program for Generalized Anxiety Disorder, with top-line data expected in the first quarter of 2026. Additionally, Cybin has received European approval for its Phase 3 depression drug trial, known as the EMBRACE study, to be conducted in Ireland, Poland, and Greece. This trial is part of the company’s broader PARADIGM program, targeting Major Depressive Disorder with its proprietary deuterated psilocin analog, CYB003.
In terms of analyst opinions, Cantor Fitzgerald has reiterated its Overweight rating on Cybin, citing a major shift in psychiatry towards accepting psychedelic-based therapeutics. Meanwhile, H.C. Wainwright has maintained a Buy rating and a $150 price target for the company. The firm has highlighted several upcoming catalysts, including the anticipated completion of enrollment in the CYB004 Phase 2 trial by August 2025. These developments underscore Cybin’s ongoing efforts in advancing its clinical pipeline and gaining regulatory approvals in the field of psychedelic medicine.
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