Cybin Inc. (CYBN, Financial) has strengthened its strategic alliances, now partnering with a total of 18 clinical sites to support its ongoing multinational Phase 3 trial of CYB003. This trial is exploring the potential of the compound as an adjunctive treatment for major depressive disorder (MDD).
The initiative, known as the APPROACH study, is projected to involve around 45 clinical sites worldwide. Earlier this year, Cybin launched this Strategic Partnership Agreement (SPA) program in collaboration with Segal Trials, a renowned clinical research organization based in South Florida.
The newly engaged U.S.-based SPA sites contribute extensive clinical expertise and dedication, aimed at facilitating and accelerating the company's Phase 3 PARADIGM program. This expansion underscores Cybin's commitment to advancing therapeutic options for MDD and achieving excellence in clinical research.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Cybin Inc (CYBN, Financial) is $79.51 with a high estimate of $150.21 and a low estimate of $25.04. The average target implies an upside of 1,027.83% from the current price of $7.05. More detailed estimate data can be found on the Cybin Inc (CYBN) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Cybin Inc's (CYBN, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
