Cybin Inc. reported its unaudited financial results for the third fiscal quarter ended December 31, 2024, with cash and cash equivalents totaling C$136.3 million. The company continues to focus on advancing its lead clinical programs, CYB003 and CYB004.
Cybin also announced the launch of a new at-the-market (ATM) equity program, allowing the company to issue and sell up to US$100,000,000 of common shares. The net proceeds from sales under this program are intended for growth opportunities and working capital initiatives.
This new ATM program replaces the previous 2023 ATM Program, under which Cybin sold 1,653,320 shares at an average price of US$11.05 per share, generating gross proceeds of approximately US$18,264,982. The new program provides significant capital flexibility to support the ongoing multinational Phase 3 PARADIGM program for CYB003 and the Phase 2 study for CYB004.
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