Cybin Inc. Secures $30M in Private Placement
Ticker: HELP · Form: 6-K · Filed: Mar 20, 2024 · CIK: 1833141
| Field | Detail |
|---|---|
| Company | Cybin INC. (HELP) |
| Form Type | 6-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: funding, clinical-trials, press-release
TL;DR
Cybin just raised $30M to fund its psychedelic drug trials. Big news for their pipeline.
AI Summary
Cybin Inc. filed a Form 6-K on March 20, 2024, reporting for the month of March 2024. The filing includes a press release announcing Cybin's closing of a private placement, which is expected to provide approximately $30 million in gross proceeds. This funding is intended to support the company's ongoing clinical development programs and general corporate purposes.
Why It Matters
This significant funding infusion positions Cybin to advance its clinical trials for novel psychedelic-based therapeutics, potentially bringing new treatments to market.
Risk Assessment
Risk Level: medium — The company is in the clinical development phase for novel therapeutics, which carries inherent scientific and regulatory risks.
Key Numbers
- $30 million — Gross Proceeds (From private placement to fund clinical development and corporate purposes.)
Key Players & Entities
- Cybin Inc. (company) — Registrant
- Doug Drysdale (person) — Chief Executive Officer
- $30 million (dollar_amount) — Gross proceeds from private placement
- March 20, 2024 (date) — Filing date
FAQ
What is the primary purpose of the $30 million in gross proceeds?
The proceeds are intended to support Cybin's ongoing clinical development programs and general corporate purposes.
When was this Form 6-K filed?
The Form 6-K was filed on March 20, 2024.
Who signed the report on behalf of Cybin Inc.?
Doug Drysdale, Chief Executive Officer, signed the report.
What type of company is Cybin Inc. classified as by the SEC?
Cybin Inc. is classified under Standard Industrial Classification: Pharmaceutical Preparations [2834].
What is the principal executive office address for Cybin Inc.?
The principal executive office is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9.
Filing Stats: 150 words · 1 min read · ~1 pages · Grade level 10 · Accepted 2024-03-20 15:16:14
Filing Documents
- cybininc-form6xk.htm (6-K) — 11KB
- cybinannouncementpressrele.htm (EX-99.1) — 20KB
- cybinclosingpressrelease.htm (EX-99.2) — 20KB
- image_0.jpg (GRAPHIC) — 14KB
- image_0a.jpg (GRAPHIC) — 14KB
- 0001833141-24-000003.txt ( ) — 92KB
From the Filing
Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2024. Commission File Number 001-40673 Cybin Inc. (Exact Name of Registrant as Specified in Charter) 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CYBIN INC. (Registrant) Date March 20, 2024 By s Doug Drysdale Name Doug Drysdale Title Chief Executive Officer EXHIBIT INDEX 99.1 Cybin Announcement Press Release 99.2 Cybin Closing Press Release