Mentioned:
Psychedelic medicines are one of the most exciting areas of drug discovery. And now, a new clinical trial is showing even more evidence for their therapeutic potential.
What’s happening:
- Toronto based psychedelic biotechnology company Cybin (NYSE: CYBN) has announced positive data from their Phase II clinical trial for their novel psilocybin analog CYB003
- Results from their clinical trial indicate a rapid and significant reduction in Major Depressive Disorder symptoms after just one dose of CBY003
Why it matters:
- With many expecting an FDA approval for MDMA as a treatment for PTSD to be imminent, this new clinical data from Cybin is further evidence that psychedelic medicines are being scientifically validated and are likely getting closer than ever to regulatory approvals
By the numbers:
- 79% of patients in the clinical trial were in remission of depressive symptoms after two doses of CYB003
- Both 12mg doses and 16mg doses of CYB003 showed no meaningful adverse side effects or issues with tolerability
The intrigue:
- One of Cybin’s most notable backers is legendary Wall Street hedge fund manager Steve Cohen, who previously purchased a large stake in the psychedelic drug development company through his fund Point 72
