Chart of Day: Cybin (CYBN) – 8/5

On August 11, the FDA will decide if it will approve MDMA (midomafetamine)-assisted therapy for the treatment of post-traumatic stress (PTSD).

While a recent study did show that MDMA led to a decrease in the severity of PTSD symptoms after 18 weeks for 86% of participants, a US FDA panel voted against approval. That’s because they’re concerned about how trials were carried out.

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In fact, due to the “profound alterations in mood, sensation, suggestibility and cognition,” the vast majority of the participants were able to accurately guess which treatment they had received after the study ended, the FDA scientists wrote, as noted by NBC News. “As a result, studies are nearly impossible to blind.”

Despite the advisory panel vote, the US FDA could still approve the therapy, especially with its effectiveness in recent studies. If it does approve the use of MDMA, CYBN could benefit.

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