Another week, another round of developments across psychedelic medicine. Below is our recap of what mattered to investors for the week of October 27 – November 2, 2025.
Cybin Inc. (CYBN): Cybin announces $175 million registered direct offering
Cybin unveiled a registered direct offering of about 22.28 million common shares and pre-funded warrants priced at $6.51, for aggregate gross proceeds of roughly $175 million. The company said it would use proceeds to repay outstanding convertible debentures held by High Trail Special Situations and to advance its CYB003, CYB004 and CYB005 programs. The raise materially strengthened Cybin's cash runway for its Phase 3 depression work.
Source: businesswire.com
Delix Therapeutics (Private): Delix reports positive Phase 1b data for non-hallucinogenic DLX-001 and FDA clearance of at-home Phase 2
Delix Therapeutics announced interim Phase 1b efficacy data for DLX-001 (zalsupindole), an orally bioavailable 5-MeO-DMT analog engineered to promote neuroplasticity without hallucinogenic effects. Patients showed roughly a 12-point MADRS decrease (about 50%) by day 8, sustained through day 36, with mild, non-serious adverse events. The FDA also cleared a Phase 2 trial design allowing at-home self-administration, a notable regulatory step for the non-hallucinogenic approach.
Source: businesswire.com
Bright Minds Biosciences Inc. (DRUG): Bright Minds Biosciences announces upcoming conference presentations
Bright Minds Biosciences said management would present at investor and scientific conferences, highlighting its selective 5-HT2 agonist portfolio led by BMB-101 for drug-resistant epilepsy and other CNS disorders. The update accompanied the company's broader plans to advance BMB-101 following positive Phase 2 data. It kept the epilepsy-focused developer in front of investors during a busy financing stretch for the sector.
Source: globenewswire.com
Cybin Inc. (CYBN): Cybin closes $175 million registered direct offering
Cybin completed its previously announced registered direct offering, confirming the roughly $175 million raise closed on October 31. The proceeds retire the company's High Trail convertible debentures and fund continued clinical development. The completed financing removed a debt overhang and extended Cybin's runway into its pivotal trial readouts.
Source: ir.helus.com
That's the recap. Follow the Psychedelic Invest Index for how the sector is trading, and check back next week for the next edition.