Summary by Moomoo AI
Cybin Inc., a clinical-stage neuropsychiatric company, filed its unaudited condensed interim consolidated financial statements for the three months ended June 30, 2024, with the United States Securities and Exchange Commission. The report, dated August 8, 2024, indicates a net loss of $14,824,000 for the period, compared to a net loss of $14,514,000 for the same period in 2023. The company's total assets decreased to $284,647,000 from $302,023,000 as of March 31, 2024. The total shareholders' equity also saw a decline to $279,832,000 from $291,927,000. The financial statements were prepared in accordance with International Accounting Standards and should be read in conjunction with Cybin’s annual financial statements. The company's cash position decreased from $208,992,000 to $183,275,000. Cybin Inc. is focused on advancing therapies and delivery mechanisms for psychiatric and neurological conditions and is developing proprietary molecules and delivery systems to be studied through clinical trials.
