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TORONTO - Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN), a clinical-stage biopharmaceutical company with a market capitalization of $170 million focused on developing treatments for mental health conditions, has been granted a U.S. patent for its CYB004 program, a deuterated form of N,N-dimethyltryptamine (DMT) designed for intramuscular injection to treat generalized anxiety disorder (GAD).
The patent, which is expected to extend exclusivity for CYB004 until 2040, covers novel formulations of DMT and its deuterated isotopologues for intramuscular administration.
Doug Drysdale, CEO of Cybin, commented on the importance of protecting their lead product candidates and expressed confidence in the CYB004 program’s potential for providing rapid-acting treatment for anxiety disorders with patient-friendly dosing methods. He also highlighted the company’s strong intellectual property portfolio, which includes more than 90 granted patents and over 230 pending applications. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 12.6, indicating strong short-term financial stability.
Cybin is currently conducting a Phase 2 study of CYB004 for GAD, with completion expected around mid-year. The company is also developing CYB003, a proprietary deuterated psilocin program, in Phase 3 for major depressive disorder. InvestingPro analysis reveals the company holds more cash than debt, though it’s currently burning through cash reserves - just two of several key insights available to Pro subscribers.
Founded in 2019, Cybin operates in Canada, the United States, the United Kingdom, the Netherlands, and Ireland, aiming to revolutionize mental healthcare with next-generation treatment options. Its investigational compounds are focused on the 5-HT-receptor, which plays a role in mental health conditions.
This news is based on a press release statement, which includes forward-looking statements about the company’s expectations for the CYB004 patent exclusivity period and the completion of the ongoing Phase 2 study. These statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially. Investors should note that Cybin’s next earnings report is scheduled for June 26, 2025, which may provide additional insights into the company’s development progress and financial position. For comprehensive financial analysis and exclusive insights, visit InvestingPro, which offers detailed metrics and expert analysis on Cybin’s current market position and future potential.
Cybin’s claims regarding its product candidates are not endorsed by regulatory authorities like the U.S. Food and Drug Administration or Health Canada, as the efficacy of such products has not been confirmed by approved research. The company acknowledges the need for rigorous scientific research and clinical trials to support the use of its investigational compounds.
In other recent news, Cybin Inc. announced significant advancements in its clinical programs aimed at treating mental health disorders. The company has made progress with its CYB003 program, which has received FDA Breakthrough Therapy Designation for treating Major Depressive Disorder (MDD), potentially expediting its development. Cybin has partnered with Thermo Fisher Scientific for the Phase 3 production of CYB003, leveraging Thermo Fisher’s expertise to enhance the drug’s development. Additionally, Cybin has secured a U.S. patent for CYB003, which provides market exclusivity until 2041, reinforcing its intellectual property portfolio. The company is actively dosing participants in its Phase 3 APPROACH study and plans to expand to 45 clinical sites across the United States. CYB003 has shown promising results in Phase 2 trials, with a 71% remission rate in MDD patients. Cybin is also advancing its CYB004 program for generalized anxiety disorder, currently in Phase 2 trials. These developments reflect Cybin’s ongoing efforts to innovate within the mental health treatment space.
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