CYBIN CORP. is a public company focusing on advancing psychedelic pharmaceutical therapies, delivery mechanisms, novel compounds and protocols as potential therapies for various psychiatric and neurological conditions. The company represents a differentiated opportunity when compared to other operators. Cybin is also developing technologies and delivery systems that aim to improve bioavailability in order to achieve the desired effects.
Last week, Cybin announced a major milestone and reportedly completed a CAD $45 million private placement that was extremely oversubscribed. An important trend that we noticed with the capital raise is related to the type of investors that were involved. Compass Pathways (CMPS) recently went public on the Nasdaq and there are a lot of similarities between the investors in Compass and the investors in Cybin.
In regards to the CAD $45 million private placement, Stifel GMP and Eight Capital served as co-lead agents on the offering and worked with a syndicate of agents, which included Canaccord Genuity, Haywood Securities, and Echelon Wealth Partners. We are favorable on the types of investors that were involved with the offering and believe that Cybin will be able to tap this network to raise additional capital as needed.
Forging ahead, we believe that Cybin has an attractive outlook. The company plans to use the proceeds from the financing to continue to advance its deep pipeline of psychedelic-based products through clinical trials and we are bullish on the associated upside potential.
Last week, CYBIN announced a major development and reported that the reverse takeover transaction was approved. Following this development, CYBIN commences trading on the NEO today, under the symbol, CYBN. This represented an important development for the business, and we expect the offering to gain traction with the market.
Now that CYBIN has the capital that it needs to execute on its pipeline of psychedelic-based products, we expect the management team to work tirelessly and commence clinical trials. We believe that CYBIN is well positioned to capitalize on a market that is not saturated. We are bullish on the potential that is associated with the company’s drug development and intellectual property (IP) platform.
We consider CYBIN to be an attractive plan on the psychedelic therapy market and believe that our readers need to be aware of the opportunity. If you are interested in learning more about the psychedelic pharmaceutical company, please send an email to firstname.lastname@example.org with the subject “Cybin” to be added to our distribution list.
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