The biotechnology company Cybin Inc. (OTCMKTS:CLXPF) has recently announced the filing of its 13thnew provisional patent application. Along with this, the company also mentioned about its progress in the build-out of its digital therapeutics’ strategy. This patent would add another feather on the cap in the company’s development program. With an emphasis on progressing psychedelic therapeutics, the company has been constantly evolving its programs into an eco-system that may potentially drive improved patient treatments through the progression of its digital therapeutics growth.
The company has initiated the next phase of the digital therapeutics platform which would give an edge in the assessment of the patient outcomes through a highly secure, patient-centered data analytics podium for better pre- and post- psychedelic treatments. The success of this could be accredited to the innovative team of the company which includes the newly formed patient steering committee. The core purpose of the company would be to utilize and leverage cutting-edge technologies to support drug development candidates.
The fundamentals of the company of building an advanced eco-system are apparent in the company’s recent events. Cybin’s collaboration with Kernel, Greenbrook TMSand the progression of other proprietary tools such as the EMBARK psychotherapy model clearly indicates the company’s intentions of developing innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
Market Reaction:
On Tuesday, CLXPF stock fell 6.25% at $2.70 with more than 1.50 million shares, compared to its average volume of 555k shares. The stock had moved within a range of $2.6500 – 3.0100 after opening the trade at $3. Over the past 52-week, the stock has been trading within a range of $0.0780 – 3.0100.
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