04:31:56 EDT Wed 24 Jul 2024
Enter Symbol
or Name

Cybin Inc
Symbol CYBN
Shares Issued 743,885,052
Close 2024-04-08 C$ 0.55
Market Cap C$ 409,136,779
Recent Sedar Documents

Globe says MindMed, Cybin get nod from U.S. FDA

2024-04-08 07:12 ET - In the News

See In the News (C-MMED) Mind Medicine (MindMed) Inc (2)

The Globe and Mail reports in its Monday edition that psychedelic drugs are making progress toward being approved pharmaceutical therapies. The Globe's Sean Silcoff writes that this comes after eight decades since a Swiss scientist took the first acid trip. In March, the U.S. Food and Drug Administration granted breakthrough designation to two Canadian companies: Mind Medicine (MindMed) and Cybin. The drugs developed by these companies have shown promise of delivering substantial improvements over existing therapies for anxiety and depression. As a result of the designations, these drugs are now eligible for priority review and accelerated approvals. Cybin chief executive officer Doug Drysdale says, "We're onto a big paradigm shift in efficacy and a way to intervene and stop depressive patients within a day of dosing, with durable and sustainable effects." They join three others that have received FDA breakthrough status since 2017 to develop mind-altering psychedelics for mental disorders. That includes Lykos Pharmaceuticals, a spinout of non-profit Multidisciplinary Association for Psychedelic Studies, which has pushed to legalize MDMA, also known as ecstasy, since its use was restricted and criminalized in 1985.

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