Cybin Secures U.S. Patent for CYB004 Program in Anxiety Disorder Treatment

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

Cybin announced the granting of a U.S. patent supporting its CYB004 program, which is in Phase 2 development for treating generalized anxiety disorder. This patent, providing exclusivity until 2040, covers novel formulations of DMT and deuterated isotopologues for intramuscular injection, enhancing Cybin’s intellectual property portfolio. The patent is expected to bolster Cybin’s position in the neuropsychiatry field by validating its CYB004 program, which aims to offer rapid-acting, short-duration treatments for anxiety disorders. The ongoing Phase 2 study is anticipated to conclude mid-year, potentially impacting stakeholders by advancing mental health treatment options.

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 addresses the large unmet need for mental health conditions with proprietary programs like CYB003 and CYB004, and operates in Canada, the United States, the United Kingdom, the Netherlands, and Ireland.

Technical Sentiment Signal: Hold

Current Market Cap: C$1.97M

For an in-depth examination of CYBN stock, go to TipRanks’ Stock Analysis page.