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Cybin (OTCMKTS:CYBN) Shares Down 5.9% - Here's What Happened

Cybin logo with Medical background

Key Points

  • Cybin Inc.'s share price decreased by 5.9% to $6.04 during mid-day trading, with a trading volume significantly above the average at 1,055,340 shares.
  • The company has a market capitalization of $142.48 million and is focused on developing psychedelic-based therapeutics with its candidates currently in various stages of clinical trials.
  • Key products in development include CYB003 for treating major depressive disorders and CYB004 aimed at generalized anxiety disorders, highlighting Cybin's innovative approach in the biopharmaceutical sector.
  • Five stocks to consider instead of Cybin.

Cybin Inc. (OTCMKTS:CYBN - Get Free Report)'s share price traded down 5.9% during mid-day trading on Wednesday . The company traded as low as $6.02 and last traded at $6.04. 1,055,340 shares traded hands during trading, an increase of 189% from the average session volume of 365,273 shares. The stock had previously closed at $6.42.

Cybin Stock Performance

The firm has a market cap of $142.48 million, a price-to-earnings ratio of -31.79 and a beta of 0.68. The business's 50-day moving average is $7.05 and its 200-day moving average is $7.21.

Cybin Company Profile

(Get Free Report)

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.

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