Cybin (NYSE American: CYBN) (NEO: CYBN) has initiated its Phase 3 PARADIGM program to evaluate the efficacy and safety of CYB003, an adjunctive treatment for Major Depressive Disorder (MDD). PARADIGM includes three pivotal studies: APPROACH, EMBRACE, and EXTEND, each aimed at examining CYB003’s potential to deliver rapid and durable relief from depressive symptoms. In Phase 2, CYB003 demonstrated significant efficacy, with 75% of patients achieving remission after two doses of 16 mg. The Phase 3 studies incorporate methods to maximize retention and address challenges seen in similar treatments, with the goal of developing a novel and effective therapy for MDD. Cybin also reported its Q2 financials, with cash reserves of C$154.3 million and a net loss of C$57.2 million, driven largely by increased research and operating expenses.
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About Cybin Inc.
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions. Cybin’s goal of revolutionizing mental healthcare is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, and novel formulation approaches and treatment regimens. The company is currently developing CYB003, a proprietary deuterated psilocybin analog for the treatment of major depressive disorder and CYB004, a proprietary deuterated DMT molecule for generalized anxiety disorder and has a research pipeline of investigational psychedelic-based compounds. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland. For company updates and to learn more about Cybin, visit www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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