Cybin Inc., a clinical-stage neuropsychiatry company, reported its financial results for the first quarter ended June 30, 2024, and provided an update on its business operations.
Cybin’s lead product candidate, CYB003, a deuterated psilocybin analog, is in development for the treatment of Major Depressive Disorder (MDD) and has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration. The company expects to report 12-month efficacy data from the ongoing Phase 2 study in Q4 2024. Cybin plans to initiate a Phase 3 multinational study for CYB003 in late summer 2024.
Cybin’s other lead candidate, CYB004, a deuterated dimethyltryptamine, is in development for Generalized Anxiety Disorder (GAD). The Phase 2 study currently enrolls patients, with topline safety and efficacy data expected by the end of the year or early Q1 2025.
To strengthen its R&D team, Cybin hired Dr. Atul R. Mahableshwarkar and Dr. Tom Macek to lead the CYB003 and CYB004 programs, respectively. Both experts bring extensive experience in drug development.
As of June 30, 2024, Cybin’s cash position totaled $183 million. The company is well-capitalized to advance its clinical programs and pursue its mission of developing novel mental health treatment options.
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.
