Ketamine was FDA-approved in the 1970s as an anesthetic agent and has been found to be safe and effective in the treatment of depression in the context of a number of controlled studies. The hypothesized mechanism of action for ketamine’s antidepressant effects include direct effects of NMDA receptor antagonism as well as additional mechanisms which may include ketamine metabolites. Ketamine is a dissociative arycyclohexylamine derivative and an antagonist of the N-methyl-D-aspartate (NMDA)-receptor. The Creative Commons Public Domain Dedication waiver ( ) applies to the data made available in this article, unless otherwise stated in a credit line to the data. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. The author of this piece wishes to disclose that he owns shares of Cybin Inc.Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. These trials are to take place in Seattle. More recently, Cybin announced it’s collaboration with the University of Washington in clinical trials of psychedelic-assisted therapy with psilocybin to be conducted on front-line clinicians and healthcare workers experiencing depression and distress related to their efforts in combating the ongoing COVID-19 pandemic. In a previous interview with Truffle Report, Horizons ETF Management CEO Steve Hawkins described the company as one of two “standouts” - alongside MindMed - in PSYK, the first ever psychedelic industry exchange traded fund. It’s robust pipeline and novel deuterated drug development program have played a large part in these valuations, and in Cybin’s inclusion in major sector ETFs. The company has previously made news for its t arget valuations by financial service firms such as Canaccord Genuity and Roth Capital Partners, each of which placed an end-of-year price target on Cybin’s shares of $8 CAD and $10 USD respectively. Enveric Biosciences, already Nasdaq-listed, looks to enter the psychedelic arena with it’s planned acquisition of MagicMed Industries currently in progress.Ĭybin was one of the early psychedelic entrants into public markets with an initial listing on the NEO in November of 2020. Others include COMPASS Pathways, MindMed, and Field Trip Health. This development makes Cybin the most recent psychedelics firm to seek a listing on a major exchange. The prospective listing remains subject to a pending final approval by the NYSE. We expect expanded access to investors to further fuel our mission to develop revolutionary psychedelic therapeutics for patients suffering from mental health conditions.” announced today that it had received conditional approval to uplist from the NEO Aequitas Exchange to the NYSE American stock exchange. If approved, the company would continue to trade under the ticker CYBN.Ĭybin CEO Doug Drysdale commented that, “Conditional listing approval on the NYSE American is an important milestone in Cybin’s growth journey. Toronto-based psychedelic drug developer Cybin Inc.
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