Cybin (CYBN) AI Stock Analysis

• Market Cap: C$1.97M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: N/A
• EPS Growth: 51.37%
• Country: CA
• Employees: 50
• Sector: Healthcare
• Sector Strength: 72
• Industry: Biotechnology
• EPS (TTM): -5.21
• Shares Outstanding: 21,026,426
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$101.17
• Price Target Upside: 72163.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

Cybin's overall score reflects its financial struggles with no revenue and sustained losses. While technical indicators are neutral, the company's valuation is negatively impacted by its financial performance. However, the positive corporate event related to the PARADIGM program offers potential for future growth if the initiative succeeds.

Positive Factors

Clinical Trial Success

Cybin's CYB003 has shown strong antidepressant effects in Phase II trials, with potential benefits lasting up to a year.

Market Potential

There is a possibility for CYB003 to achieve blockbuster status by capturing a portion of Spravato's significant market share.

Regulatory Advantage

CYB003 has received Breakthrough Therapy Designation from the FDA, which might accelerate its path to potential approval.

Negative Factors

Competitive and Market Risks

There has been a moderate decrease in the price target for Cybin shares, reflecting updated estimates and competitive dynamics in the psychedelics space.

Dilution Risk

Potential for dilution exists with most clinical-stage biopharma companies, including CYBN, due to ongoing trials and future capital requirements.

Financial Performance

Higher operating expenses than expected were driven by increased clinical trial activity, impacting financial models.

Cybin Business Overview & Revenue Model

Company Description

Cybin Inc., a biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine for treating anxiety disorders; and CYB005, a phenethylamine derivative to treat neuroinflammation. It has also developed EMBARK, a psychedelic-assisted psychotherapy. The company is headquartered in Toronto, Canada.

How the Company Makes Money

Cybin makes money primarily through the development and commercialization of psychedelic-based therapeutic products and intellectual property. The company's revenue model includes licensing agreements, collaboration partnerships, and potential future sales of approved treatments. Cybin conducts clinical trials to establish the efficacy and safety of its psychedelic compounds, aiming to bring them to market as approved therapies. Additionally, Cybin engages in strategic partnerships with research institutions and other biotech companies to co-develop and co-commercialize its products, which can also provide milestone payments and royalties as revenue streams.

Cybin Financial Statement Overview

Summary

Cybin's financial performance is weak due to a lack of revenue and ongoing net losses. Despite a strong equity position and healthy cash reserves, the negative cash flow from operations poses sustainability risks. The company's reliance on equity rather than debt is a positive aspect, but the absence of revenue generation remains a critical concern.

Income Statement

Cybin has been experiencing significant financial challenges, evident from the absence of revenue in recent periods and substantial net losses. The company reported a negative EBIT and EBITDA, indicating operational inefficiencies and high costs relative to its revenue base. Historically, there was some revenue in 2021, but it has since dropped to zero, highlighting a concerning trend in revenue generation.

Balance Sheet

The balance sheet shows a strong equity position with zero debt, suggesting a conservative capital structure. However, the lack of revenue is a significant concern. The equity ratio is high, showcasing reliance on equity rather than debt. The company maintains a healthy cash position, but sustained losses could erode this over time.

Cash Flow

Cash flow from operations is negative, reflecting ongoing operational cash burn. Although the company has raised substantial financing, the free cash flow remains negative, indicating cash outflows exceed inflows. This trend suggests potential liquidity issues if the cash burn continues without revenue improvement.

Breakdown
TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	864.00K	0.00
	Gross Profit
-280.00K	-424.00K	-251.00K	-168.00K	200.00K	0.00
	EBIT
-45.51M	-78.84M	-54.94M	-63.60M	-30.46M	-1.95M
	EBITDA
-134.69M	-78.58M	-47.24M	-63.67M	-32.17M	9.60K
	Net Income Common Stockholders
-103.90M	-78.08M	-47.49M	-67.63M	-32.22M	-1.94M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
136.29M	208.99M	16.63M	64.03M	1.54M	1.54M
	Total Assets
253.55M	302.02M	53.90M	92.11M	1.71M	1.71M
	Total Debt
0.00	291.00K	0.00	0.00	0.00	0.00
	Net Debt
-136.29M	-208.70M	-16.63M	-64.03M	-1.54M	-1.54M
	Total Liabilities
13.31M	10.10M	5.66M	5.99M	263.00K	263.00K
	Stockholders Equity
240.24M	291.93M	48.23M	86.12M	1.45M	1.45M
Cash Flow		Free Cash Flow
-101.99M	-69.62M	-50.74M	-19.26M	-19.26M	―
	Operating Cash Flow
-100.89M	-68.91M	-47.43M	-19.03M	-19.03M	―
	Investing Cash Flow
-1.10M	6.92M	-3.31M	-1.19M	-1.19M	―
	Financing Cash Flow
190.08M	254.51M	13.56M	35.78M	82.72M	―

Cybin Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	48 Neutral	$6.84B	1.02	-53.11%	2.50%	16.84%	0.92%
CYBN	42 Neutral	C$1.97M	―	-58.79%	―	―	51.37%

Cybin Corporate Events

Cybin Accelerates PARADIGM Program for Depression Treatment

Cybin has launched strategic clinical site partnerships to accelerate its PARADIGM program, a multinational Phase 3 initiative evaluating CYB003 for treating major depressive disorder. This program includes multiple studies across over 40 sites in the U.S. and Europe, with a significant addressable market of over 300 million people. With a robust drug development team and Breakthrough Therapy Designation from the FDA, Cybin aims to shift depression treatment towards more intermittent therapies rather than daily dosing.

Cybin Partners with Segal Trials for Pivotal Phase 3 Program

Cybin announced the launch of its first strategic partnership agreement with Segal Trials to support its multinational pivotal Phase 3 program for CYB003, designed to treat Major Depressive Disorder. This collaboration aims to enhance trial efficiency and performance, with the potential to expedite the approval process, while enrolling approximately 550 patients across more than 40 clinical sites in the U.S. and Europe.

Cybin Inc. Achieves Breakthroughs in Mental Health Treatment

Cybin Inc. announced significant achievements in 2024, including successful Phase 2 results for its CYB003 drug, demonstrating a breakthrough in treating major depressive disorder. The company received FDA Breakthrough Therapy Designation for CYB003 and initiated a multinational pivotal Phase 3 program. Looking forward to 2025, Cybin anticipates advancing its clinical pipeline with key milestones, including topline efficacy data for CYB004 in generalized anxiety disorder and further progress in its Phase 3 program.