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Why Cybin Stock Is Down on Monday

TheMotleyFool

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Shares of Cybin (NYSEMKT: CYBN), a pre-commercial drugmaker focused on developing psychedelics, fell more than 17% this morning. The company reported success with CYB003, a novel psilocybin analog, but the stock was still down 11.7% as of 11:59 a.m. EST on Monday.

Cybin's lead candidate, CYB001, is essentially psilocybin delivered under the tongue for the treatment of major depressive disorder. Today, the company reported pre-clinical results for CYB003, an orally disintegrating tablet that contains a slightly heavier version of psilocybin.

Image source: Getty Images.

Source Fool.com

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