Cybin Partners with Thermo Fisher for U.S. Manufacturing of CYB003

Cybin ( (TSE:CYBN) ) has shared an announcement.

Cybin has engaged Thermo Fisher Scientific to provide U.S.-based manufacturing for its CYB003 program, which is in Phase 3 development for the adjunctive treatment of Major Depressive Disorder. This collaboration aims to accelerate drug development and future commercialization, leveraging Thermo Fisher’s expertise in manufacturing. The partnership is expected to enhance Cybin’s operations and address significant unmet medical needs in mental health treatment, following promising Phase 2 results and FDA Breakthrough Therapy Designation for CYB003.

The most recent analyst rating on (TSE:CYBN) stock is a Buy with a C$114.00 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. The company is working on CYB003, a proprietary deuterated psilocin analog for major depressive disorder, and CYB004 for generalized anxiety disorder. Founded in 2019, Cybin operates in Canada, the United States, the United Kingdom, the Netherlands, and Ireland.

Technical Sentiment Signal: Hold

Current Market Cap: C$1.97M

See more insights into CYBN stock on TipRanks’ Stock Analysis page.