Canaccord analyst Sumant Kulkarni lowered the firm’s price target on Cybin (CYBN) to $73 from $86 and keeps a Buy rating on the shares. The firm noted they reported Q3 results but said the key update was that the company now expects Phase 2 proof-of-concept efficacy/safety data for CYB004 (deuterated DMT) in generalized anxiety disorder (GAD) in C1H25 versus the previous C1Q25.
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