In this live-streamed episode of Trade To Black, we have a captivating interview with Doug Drysdale, the CEO of Cybin. It’s been a big week for psychedelics, between the MAPS data and a surprising investment by Point72 Asset Management. If you missed the stream as it happens be sure to catch up with the VOD as the market kicks off this morning. Doug, host Shadd Dales, and investor Anthony Varrell discuss some of the latest developments in the pharmaceutical space.
The biggest piece of recent news: Cybin Inc. (NYSE-A:CYBN, NEO:CYBN) has experienced a surge in share prices after billionaire investor Steve Cohen’s hedge fund, Point72 Asset Management, spent to US$30 million acquiring nearly 19 million shares.
Cybin is a clinical-stage biopharmaceutical company that specializes in developing psychedelics-based therapies for major depressive disorder (MDD) and anxiety. Cybin also made the announcement in August that they planned to acquire the U.K.-based Small Pharma (OTCQB:DMTTF), which also focused on psychedelic-based therapies. In the agreement, holders of Small Pharma (TSXV:DMT:CA) shares will receive 0.2409 common shares of Cybin (CYBN) for each common share of Small Pharma held.
Clearly, lots of exciting events happening for Cybin. Steve Cohen’s investment showcases the growth potential of the company. But this interview with Doug Drysdale also helps give us some more perspective on other aspects of what it will take to scale, including sharing how therapists themselves are feeling about joining in the space.
With the MAPS readouts on MDMA-assisted therapy and other clinical trials in the works by other companies in the space, could it be that big investors may finally be getting ready to jump in with both feet? We have some thoughts, and you won’t want to miss them.
Even if you’re tuning in late, don’t miss out on this exclusive interview as we delve into the intricacies of these groundbreaking developments and explore the promising future of Cybin in the emerging field of psychedelic-based therapies.