Cybin Inc. (NYSE: CYBN) reported its unaudited financial results for its second quarter ended September 30, 2022, and provided business highlights for the period. The psychedelics biopharma company is Canada-based and operational in Canada, the US, the UK, the Netherlands and Ireland.
CEO Doug Drysdale said: “We have continued to make progress as planned, advancing our clinical pipeline of modified psychedelic-based molecules while also strengthening our drug discovery platform of differentiated preclinical compounds.”
Drysdale explained that Cybin has broadened its IP portfolio through strategic licensing agreements for preclinical compounds supporting ongoing drug developments.
“Our commitment to discovering and developing innovative psychedelic-based treatment options for areas of high unmet need is unwavering. We are focused on strengthening our position as an innovator in the industry and thereby differentiating ourselves in the psychedelics space to deliver long-term value to all our stakeholders,” he said.
Q2 financials show cash …