Cybin Inc. (CYBN) has announced positive 12-month efficacy data from its Phase 2 study of CYB003, a proprietary deuterated psilocin drug, showing sustained symptom remission in patients with major depressive disorder (MDD). The results highlight the potential of CYB003 as a breakthrough treatment, having already received Breakthrough Therapy Designation from the FDA.
Long-Term Efficacy of CYB003
The Phase 2 clinical trial involved administering two 16 mg doses of CYB003, spaced three weeks apart. The study demonstrated that at the 12-month mark, the response rate improved to 100%, with 71% of participants still in remission. Patients experienced an average improvement of nearly 23 points on the Montgomery–Åsberg Depression Rating Scale (MADRS). According to Cybin, the two patients who responded to treatment but were not in remission had MADRS scores of 11, just above the remission threshold of 10 or lower.
"We previously reported response and remission rates of 75% at four months. By the 12-month mark, response rates improved to 100% while 71% of participants were still in remission," said Cybin Chief Medical Officer Amir Inamdar. The data suggests that CYB003 offers long-lasting relief, a significant advantage over many current MDD treatments.
Safety Profile and Market Confidence
Cybin reported no new adverse events during the 12-month follow-up, including no cases of suicidality. Previous data showed no treatment-related adverse events six weeks after administering 12 mg or 16 mg doses. These findings have boosted market confidence in CYB003, especially after initial Phase 2 data a year ago failed to impress investors.
Comparison with Other Antidepressants
Other companies have faced challenges in advancing antidepressants. For example, the FDA initially rejected Sage and Biogen’s zuranolone for MDD, approving it only for postpartum depression, requesting additional studies. Similarly, Allergan’s NMDA receptor modulator, rapastinel, failed in a Phase 3 MDD trial despite being well-tolerated.
Investor Sentiment and Future Plans
Following the announcement of the positive results, Cybin’s stock price initially surged but later stabilized. Retail investor sentiment turned bullish, with some speculating that potential regulatory support could accelerate FDA approval for CYB003. Analyst firms have also expressed optimism, with Alliance Global Partners raising its price target from $6 to $25.
Cybin has launched its Phase 3 PARADIGM program to assess CYB003’s efficacy and safety in a broader MDD patient group. The company also anticipates reporting Phase 2 topline results for CYB004, a treatment for generalized anxiety disorder, by Q1 2025. CEO Doug Drysdale emphasized the company’s commitment to advancing CYB003 towards regulatory approval and commercialization.
