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Cybin ( (TSE:CYBN) ) has provided an update.
Cybin has received approval in Australia to conduct the EMBRACE study, part of its Phase 3 PARADIGM program evaluating CYB003 for treating major depressive disorder. The study will enroll 330 participants across the U.S., Europe, and Australia, marking a significant milestone in Cybin’s efforts to develop effective mental health treatments. This approval, along with recent clearances in Ireland, Poland, Greece, and the UK, underscores the international validation of Cybin’s clinical program. The EMBRACE study aims to build on promising Phase 2 results and further Cybin’s mission to revolutionize mental healthcare.
The most recent analyst rating on (TSE:CYBN) stock is a Buy with a C$150.00 price target. To see the full list of analyst forecasts on Cybin stock, see the TSE:CYBN Stock Forecast page.
Spark’s Take on TSE:CYBN Stock
According to Spark, TipRanks’ AI Analyst, TSE:CYBN is a Underperform.
Cybin’s stock score is significantly impacted by its lack of revenue and continuous financial losses, resulting in a low valuation score. While technical indicators are neutral, positive corporate events indicate potential for future growth. However, current financial challenges remain the dominant concern.
To see Spark’s full report on TSE:CYBN stock, click here.
More about Cybin
Cybin is a late-stage breakthrough neuropsychiatry company focused on revolutionizing mental healthcare by developing innovative next-generation treatment options for mental health conditions. The company is advancing CYB003, a proprietary deuterated psilocin analog, in Phase 3 studies for the adjunctive treatment of major depressive disorder.
Technical Sentiment Signal: Hold
Current Market Cap: C$1.97M
For detailed information about CYBN stock, go to TipRanks’ Stock Analysis page.