Cybin Looks to Develop the Next Blockbuster Drugs
May 18th, 2021
App, Exclusive, Psychedelics, Top Story
The pharmaceutical industry has struggled for years to develop effective psychiatric and neurological treatments. For example, many antidepressants and antipsychotics show only marginal efficacy in reducing symptoms compared to placebos over the short-term. The long-term use of many psychiatric drugs is also associated with adverse side-effects.
Psychedelics are an exciting development in neuropsychiatry because of their rapid onset and sustained therapeutic effect across multiple disorders, including depression, post-traumatic stress disorder, and substance use disorder. As evidence of safety and efficacy mount, researchers are starting to understand how these drugs work at a molecular level.
The potential for psychedelics to treat multiple under-served neuropsychiatric disorders also means potential blockbuster pharmaceuticals. For instance, Cybin Corp. (NEO: CYBN) (OTC: CLXPF) is planning to begin Phase IIA clinical trials for its psilocybin-based sublingually-delivered treatment for major depressive disorder—a $4+ billion market.
Let’s take a closer look at Cybin’s unique approach to developing psychedelic therapies and why investors should take a closer look at the stock.
BTV interview with Cybin CEO, Doug Drysdale
Targeting Blockbuster Markets
Blockbuster drugs are those that generate annual sales of $1 billion or more. For example, Pfizer Inc.’s (PFE) Zoloft is the most commonly prescribed antidepressant and overall psychiatric medication with about nearly five million prescriptions written in March 2020 alone. Since its release in 1991, the drug has generated over $30 billion in total revenue.
Cybin’s CYB001 program aims to develop a psilocybin-based treatment for major depressive disorder (MDD), which affects about 6% to 7% of the U.S. population in any given year, according to the National Institute of Mental Health. Global Data estimates that the market for MDD treatments will grow from $4 billion in 2019 to about $8 billion by 2029.
Unfortunately, current MDD treatments have limited efficacy, produce adverse side-effects and are associated with patient adherence problems. While some patients show reduced symptoms following treatment, approximately 30% to 50% did not respond fully and as many as 10% to 30% are considered treatment-resistant, resulting in less-than-impressive average effects.
Last year, Johns Hopkins researchers found that psilocybin with supportive psychotherapy produced rapid and large reductions in major depressive disorder symptoms with most participants showing improvement and half of participants achieving remission through the four-week follow-up period—a remarkable feat given the lack of efficacy with current drugs.
Cybin’s other clinical programs in pre-clinical and Phase I studies target alcohol use disorder, a $7 billion market, therapy resistant psychiatric disorders, and psychiatry and neurology in general. These markets have existing spending in the billions of dollars each year with pharmaceuticals that produce sub-par results over the long-term.
Taking a Unique Approach
There are about 50 different public companies focused on the psychedelics industry along with hundreds of private companies. With so many different options, investors can have a hard time determining the best investment opportunities that have a real shot at developing blockbuster drugs with the potential to disrupt billion-dollar markets.
Cybin has a three-pillar strategy that sets it apart from the competition:
- Novel Drug Discovery Platform – The company develops new APIs via selective modifications of tryptamine and phenethylamine-based scaffolds to alter their pharmacokinetics without modifying their therapeutic potential. These novel techniques could help create breakthrough therapies and defensible IP.
- Proprietary Drug Delivery Systems – The company develops efficient delivery systems that bypass liver metabolism with a direct path to the brain, providing faster onset. For instance, CYB001 leverages a sublingual film that bypasses the liver while modified release formulations have the potential to reduce side effects and control dosages.
- Innovation Treatment Regimen – The company provides a software-based platform to gather clinical research data from psychedelic treatments and leverages machine learning-based data analytics to improve patient outcomes. By taking a holistic approach, the company sets itself apart from drug-only therapies.
In addition, Cybin has partnered with Kernel Flow to enhance understanding of psychedelic experiences using real-time, cortical hemodynamics. The ability to collect quantitative data from sponsored drug development programs with Kernel Flow will be a game-changer in terms of its ability to measure where psychedelics work in the brain and how therapies are designed.
The company’s robust clinical pipeline and unique approach to developing and implementing psychedelic therapies sets it apart from other companies in the space. Not surprisingly, these dynamics have helped the company achieve one of the largest market capitalizations in the space and a premier position on the industry’s flagship exchange-traded fund.
Cybin Corp. (NEO: CYBN) (OTC: CLXPF) is one of the most promising opportunities in the psychedelics space with the potential to disrupt several multi-billion-dollar markets. By taking a unique three-pronged approach to developing these therapeutics, the company differentiates itself from many competitors in the psychedelics industry.
Analysts have also been bullish on the stock in recent weeks with price targets ranging from C$8.00 to C$11.00 per share—a significant premium to the current market price. For example, Roth Capital issued a US$10.00 per share price target, citing the company’s ingenious ways to improve the potency and delivery of psychedelic drugs.
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