Toronto-based Cybin Inc., a clinical-stage neuropsychiatry company focused on developing novel treatments for mental health conditions, has consolidated its common shares. Effective immediately, this adjustment combines every 38 existing shares into one new one.

The consolidation has reduced the number of outstanding common shares from 759,692,495 to approximately 19,991,907. While each shareholder’s proportionate ownership and voting power remain unchanged, fractional shares have been adjusted appropriately.

The exercise price and issuable shares of the company’s outstanding warrants and options have been adjusted to align with the consolidation.

Cybin remains committed to developing innovative therapeutics for mental health. The company aims to revolutionize mental healthcare through partnerships with world-class scientists by advancing proprietary drug platforms, novel delivery systems, and new treatment regimens.

Cybin is currently developing CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder. The company maintains operations in Canada, the United States, the United Kingdom, the Netherlands, and Ireland.

Forward-looking statements in this announcement are subject to risks and uncertainties that may affect actual results. These statements are based on current expectations and are not guarantees of future performance.

Source link: http://www.businesswire.com/news/home/20240918510328/en/Cybin-Announces-Completion-of-Previously-Announced-Share-Consolidation

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Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.