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ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2% ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2%
Earnings

Cybin Reports Second Quarter Fiscal Year 2026 Financial Results and Recent Business Highlights

By The Northwire Desk — AI Analysis Nov 13, 2025 · 07:20 CYBN · 9.03 CYBIN INC.
CYBN · Price

Executive Summary

  • Cybin closed a registered direct offering raising US$175 million, boosting cash to approximately US$248 million after the quarter.
  • Reported Q2 2025 unaudited results: net loss of US$33.7 million; cash‑based operating expenses of US$28.5 million; cash balance of US$83.8 million before financing proceeds and debt repayment.
  • Clinical progress highlighted: Phase 2 enrollment for CYB004 (GAD) completed, topline data expected Q1 2026; Phase 3 APPROACH study for CYB003 (MDD) ongoing with topline readout anticipated Q4 2026; EMBRACE study approved in multiple regions with enrollment to begin Q4 2025.

Key Details

  • Financing:
  • Registered direct offering gross proceeds: US$175 million.
  • Led by a syndicate of prominent biopharma institutional investors.

  • Proceeds used to fund clinical programs, retire convertible debentures (≈ US$22.8 million repayment), and strengthen the balance sheet.

  • Cash Position:

  • Cash on hand as of Sept 30 2025 before financing: US$83.8 million.

  • After net proceeds and debt repayment, cash increased to ~US$248 million.

  • Debt Repayment:

  • Full repayment of outstanding convertible debentures to High Trail Special Situations LLC; total cash outflow for repayment ≈ US$22.8 million (including early‑repayment fees).

  • Quarterly Financial Highlights (Q2 2025):

  • Net loss: US$33.7 million, improved from US$41.9 million YoY.
  • Cash‑based operating expenses: US$28.5 million (up from US$18.2 million YoY).

  • Cash used in operating activities: US$34.5 million (vs. US$19.1 million YoY).

  • Clinical Program Updates:

  • CYB004 (Phase 2, GAD): Enrollment completed; topline data expected Q1 2026.
  • CYB003 (Phase 3, MDD – APPROACH study): Ongoing dosing; enrollment target 220 patients across 45 U.S. sites; topline data expected Q4 2026.
  • EMBRACE (Phase 3, MDD): Regulatory approval obtained in Australia, U.S., Ireland, Poland, Greece, UK; enrollment to start Q4 2025 targeting ~330 participants.

  • EXTEND Long‑Term Extension: Patient rollovers underway for long‑term safety data.

  • Corporate Governance:

  • Board formed a committee to conduct a formal search for a permanent Chief Executive Officer.

  • Conference Call/Webcast:

  • Date: Thursday, Nov 13 2025
  • Time: 8:00 a.m. ET
  • Dial‑in numbers and conference ID provided.

Notable Quotes

“We are extremely pleased with the strong demand for our recently completed financing… This financing enables us to maintain strong momentum as we advance our Phase 2 and Phase 3 clinical trials toward key data readouts in 2026.” – Eric So, Interim CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

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