Cybin (CYBN) AI Stock Analysis

• Market Cap: $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: 69
• 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): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• 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: $97.89
• Price Target Upside: 69823.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

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.

Positive Factors

Clinical Trials

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

Market Potential

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

Valuation

Encouraging data generated so far with CYB003 in major depressive disorder, which is a large market, leads to the view that CYBN is undervalued.

Negative Factors

Competitive Dynamics

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

Financial Performance

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

Financial Risk

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

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 through the development and commercialization of psychedelic-based therapeutics. The company's revenue streams primarily include partnerships and collaborations with research institutions and pharmaceutical companies, conducting clinical trials, and potentially licensing its proprietary drug formulations and delivery technologies. As Cybin progresses through clinical trials and moves towards regulatory approval, it may also generate income through milestone payments and eventual sales of approved drugs. Strategic partnerships and collaborations play a significant role in supporting Cybin's research initiatives, contributing to funding and resources for its development programs.

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
Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement		Total Revenue
0.00	0.00	0.00	864.00K	0.00
	Gross Profit
-424.00K	-251.00K	-168.00K	200.00K	0.00
	EBIT
-78.84M	-54.94M	-63.60M	-30.46M	-1.95M
	EBITDA
-78.58M	-47.24M	-63.67M	-32.17M	9.60K
	Net Income Common Stockholders
-78.08M	-47.49M	-67.63M	-32.22M	-1.94M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
208.99M	16.63M	64.03M	1.54M	1.54M
	Total Assets
302.02M	53.90M	92.11M	1.71M	1.71M
	Total Debt
291.00K	0.00	0.00	0.00	0.00
	Net Debt
-208.70M	-16.63M	-64.03M	-1.54M	-1.54M
	Total Liabilities
10.10M	5.66M	5.99M	263.00K	263.00K
	Stockholders Equity
291.93M	48.23M	86.12M	1.45M	1.45M
Cash Flow		Free Cash Flow
-69.62M	-50.74M	-19.26M	-19.26M	―
	Operating Cash Flow
-68.91M	-47.43M	-19.03M	-19.03M	―
	Investing Cash Flow
6.92M	-3.31M	-1.19M	-1.19M	―
	Financing Cash Flow
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 *	51 Neutral	$5.35B	3.41	-40.83%	2.89%	18.11%	2.60%
CYBN	37 Underperform	$1.97M	―	-58.79%	―	―	51.37%

Cybin Corporate Events

Cybin Expands Strategic Partnerships for Phase 3 MDD Treatment Trials

Cybin has announced new strategic clinical site partnerships to support its multinational Phase 3 program, PARADIGM, evaluating CYB003 for the adjunctive treatment of Major Depressive Disorder (MDD). These partnerships, now totaling 18 sites, aim to enhance operational efficiency and patient recruitment, potentially reducing the time to trial completion. The APPROACH study will include approximately 45 clinical sites, with the second Phase 3 study, EMBRACE, expected to begin in mid-2025. This initiative underscores Cybin’s commitment to addressing the global mental health crisis and improving patient outcomes through innovative treatments.

Spark’s Take on TSE:CYBN Stock

According to Spark, TipRanks’ AI Analyst, TSE:CYBN is a Underperform.

Cybin’s stock score is low due to significant financial challenges, including no revenue and continuous losses. While the technical analysis is neutral, the valuation is negatively impacted by poor financial performance. Positive corporate events, like strategic partnerships, offer potential for future growth, but the current financial struggles outweigh these developments.

To see Spark’s full report on TSE:CYBN stock, click here.

Cybin Partners with Osmind to Boost Commercial Readiness for Psychiatry Programs

Cybin has announced a strategic partnership with Osmind to accelerate the commercial preparation of its clinical-stage psychiatry programs. By leveraging Osmind’s extensive network of over 800 clinics and its point-of-care software, Cybin aims to enhance its operational infrastructure for the commercialization of its lead clinical programs, CYB003 and CYB004, targeting major depressive disorder and generalized anxiety disorder, respectively. This collaboration is expected to facilitate Cybin’s market penetration and support its mission to transform the treatment paradigm for mental health disorders, addressing the significant unmet needs in the mental health crisis.

Spark’s Take on TSE:CYBN Stock

According to Spark, TipRanks’ AI Analyst, TSE:CYBN is a Neutral.

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.

To see Spark’s full report on TSE:CYBN stock, click here.

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.