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Top NEO Exchange Psych Stock to Release Q2 FY2021 Financial Results

Stockhouse Editorial
1 Comment| November 9, 2021

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Click to enlargeCybin Inc. (NEO: CYBN, NYSE American: CYBN, Forum) announced on Tuesday that it will report financial results for its fiscal Q2 2021 ended September 30th, 2021 on Monday, November 15th, 2021. The same day, at 4:30 pm (EST), a conference call will be held to discuss the results and recent business updates with the company’s Chief Executive Officer, Doug Drysdale.

For full details on how to dial-in, click here.

One of the recent updates that the Toronto-based life sciences company will likely cover is its positive CYB003 pre-clinical findings that were released this week that demonstrated multiple advantages for its newly developed novel deuterated psilocybin analog over oral psilocybin for the treatment of mental health.

CEO Drysdale said in a news release that multiple academic studies have shown that psilocybin may have the potential to revolutionize mental healthcare, but few companies have addressed the well-known limitations and side effects of oral psilocybin.

“Cybin has always strived to develop safer and more effective therapies for patients, which has guided our multiple psilocybin programs: CYB001, CYB002, and CYB003.”

The Cybin team believes that CYB003 has the potential to reduce time and resource burden on patients, providers and payers, and possibly improving scalability and accessibility​.

Deuterated psilocybin analog (a stable isotope of hydrogen with a mass approximately twice that of the usual isotope) from its CYB003 program demonstrates:

  • 50% reduction in variability compared to oral psilocybin; indicates potential for more accurate dosing
  • 50% reduction in dose compared to oral psilocybin; indicates potential to maintain equivalent efficacy while reducing side effects
  • 50% shorter time to onset when compared to oral psilocybin; indicates potential for shorter duration of treatment, lower inter-subject variability, better therapeutic control, and safety
  • Nearly double brain penetration when compared to oral psilocybin; indicates potential for a less variable treatment response, a lower dose therapeutic effect, and reduced patient side effects

He explained that while the team is encouraged by the benefits of psilocybin, its limitations need to be openly and transparently discussed if psychedelics can be translated to therapeutics for patients in need.

“The majority of current clinical studies are based on psilocybin. We have taken the necessary steps to potentially unlock the powerful benefits of psychedelics and engineer a superior molecule as demonstrated by the data. We are on a mission to make ethical, safe scientific progress to advance the care and treatment of mental health patients. Our goal has always been to be a leader in creating the best therapy for patients, today we move one step closer.”

New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.

FULL DISCLOSURE: Cybin Inc. is a client of Stockhouse Publishing.

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