If you are currently looking into some of the major gainers in recent days, then it might be a good move to start looking into the Cybin Inc (OTCMKTS:CLXPF) stock a bit more seriously.
The stock has been in the middle of a strong run over the course of the past week and it continued on Monday. Yesterday, the Cybin stock soared by 10% amidst heavy action and that took its gains for the past week to as much as 30%. One of the major triggers for the rally in the stock came last week when Cybin announced that it expanded its operations to Europe and also provided an update with regards to its intellectual property portfolio.
The company is involved in the psychedelic based medicines business and back on July 8, it announced that it was in the process of scaling up its operations in Europe considerably. The expansion is going to include a major thrust towards research in collaboration with clinical research institutions and academic organisations.
In addition to that, Cybin is also going to transfer its intellectual property to its recently established fully owned subsidiary that is based out of Iceland. Investors could consider adding the stock to their watch lists at this point.
Market Reaction:
On Monday, CLXP stock jumped 10% at $2.88 with more than 1.82 million shares, compared to its average volume of 516k shares. The stock had moved within a range of $2.7000 – 2.8900 after opening the trade at $2.75. Over the past 52-week, the stock has been trading within a range of $0.0780 – 2.8900.
 Stock Extends Rally: Up 30% in a Week){kind=link}