Cybin, Inc. (TSE:CYBN) has released an update.
Cybin Inc., a biopharmaceutical company, has successfully completed an oversubscribed private placement, raising U.S. $150 million through the sale of common shares at a premium. The funds are earmarked for Phase 3 development of CYB003, a potential treatment for Major Depressive Disorder, alongside working capital and general corporate purposes. The placement attracted notable institutional investors, with the transaction expected to close by March 19, 2024, pending regulatory approvals.
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