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Benzinga
Benzinga
Business
Henry Khederian

Why Cybin Shares Are Rising

Cybin Inc (NASDAQ:CYBN) shares are trading higher after the company announced an Institutional Review Board granted approval for a Cybin-sponsored feasibility study using Kernel Flow technology to measure psychedelic effects on the brain.

“By leveraging the Kernel Flow technology, we may have the ability to measure longitudinal brain activity before, during and after a psychedelic experience, and collect quantitative data as opposed to subjective patient reporting,” said Doug Drysdale, Cybin’s Chief Executive Officer.

“We believe the results of this study will lead to future studies that will test the effectiveness of psychedelic treatments and will further support our mission to develop psychedelics into therapeutics,” Drysdale stated.

Cybin is a life sciences company. The company is focused on psychedelic drug development, delivery mechanisms, improved novel compounds and protocols that target psychiatric and neurological diseases.

Cybin has a 52-week high of $3.38 and a 52-week low of $0.95.

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