Cybin – The Most Explosive Potential Pharmaceutical Company After LLY and NVO

June 20, 2024 by No Comments

EQS Newswire / 19/06/2024 / 21:51 EST/EDT

In the past, many notable figures have suffered from depression, with some even taking their own lives, earning depression the moniker of the “number one mental killer.” According to a survey by the World Health Organization, 322 million people globally suffer from depression, accounting for 4.4% of the world’s total population. In recent years, the impact of the pandemic coupled with advancements in AI technology and the increasing disconnect in human relationships have only exacerbated the scourge of depression.

 

Cybin Inc. (CYBN.US), a company listed in the NYSE, has designed a proprietary drug discovery platform, innovative drug delivery systems, novel formulation methods (developing differentiated next-generation psychedelic therapies), and treatment approaches. Among them, the company is experimenting with the use of deuterated psychedelic N,N-Dimethyltryptamine (DMT), a second-generation psychedelic, to treat Major Depressive Disorder. CEO Doug Drysdale previously stated that the data for the company’s CYB003 (a psilocybin-like compound in development for the treatment of depression) showed that 75% of patients experienced relief of symptoms for at least four months after two administrations. This project has been granted Breakthrough Therapy designation by the FDA.

 

Doug Drysdale further elaborated that one-fifth of Americans experience some form of mental health issue annually, with half of them encountering depression at some point in their lives. Many Hollywood celebrities and musicians have succumbed to the anguish of depression and made the painful choice to depart this world.

 

A successful drug can determine the future of a pharmaceutical company. Pfizer’s (PFE.US) Viagra, once approved by the FDA, quickly achieved commercial success. More recently, Eli Lilly’s (LLY.US) Zepbound and Novo Nordisk’s (NVO.US) Wegovy, two weight-loss drugs, have also garnered significant market attention due to their unprecedented success.

 

As the launch date of Cybin’s CYB003 draws nearer, not only are billions of depression patients and their families eagerly awaiting its arrival, but the investment community is also highly interested. Prominent investors like Point 72 and RA Capital have already become shareholders. The day CYB003 achieves its first commercial application may very well be the takeoff point for Cybin Inc.

19/06/2024 Dissemination of a Financial Press Release, transmitted by EQS News.
The issuer is solely responsible for the content of this announcement.

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