Neuropsychiatry company Cybin Inc (NYSE American: CYBN) (Cboe CA: CYBN) on Monday reported promising 12-month Phase 2 results for its CYB003 treatment targeting major depressive disorder (MDD).

Two doses of 16 mg CYB003 demonstrated significant efficacy, with 100% of participants responsive and 71% achieving remission. Patients recorded an average ~23-point reduction in the Montgomery-Asberg Depression Rating Scale (MADRS) from a baseline of 32 points.

The 12 mg dosing group showed a mean ~18-point MADRS reduction, with 60% responding and 50% in remission. CYB003 maintained an excellent safety profile with no new adverse events or suicidality reported. These results affirm CYB003's durable therapeutic effects and support Cybin's ongoing Phase 3 PARADIGM program.

Cybin aims to transform mental health treatment through next-generation therapies. The company, founded in 2019, operates across Canada, the US, the UK the Netherlands and Ireland. It also progresses its CYB004 program for generalised anxiety disorder.