The global psychedelics market is projected to grow from $4.75 billion to $10.75 billion by 2027, according to Research and Markets, representing a strong 12.36% compound annual growth rate. With more than 40 public companies in the psychedelics sector and an exchange-traded fund, there is no shortage of opportunities for investors interested in the space.
Cybin Corp. (NEO: CYBN) (OTCQB: CLXPF) is one of the largest psychedelic companies with a market capitalization of around C$300 million. With a robust development pipeline and patent portfolio, the company is well-positioned to bring unique therapeutics that will target major depressive disorder, alcohol use disorder, and other conditions.
We take a look at what analysts are saying about the company, why they’re so bullish on the stock and the upcoming catalysts investors should keep an eye on.