How did Cybin's expenses shift in Q3 2025?

Cybin's expenses in Q3 2025 are not currently available. However, we can infer some aspects of their financial strategy and potential expense shifts from the available data.

1. Focus on Strategic Partnerships: Cybin has been expanding strategic partnerships to support its Phase 3 program, PARADIGM, for CYB003. These partnerships are likely to involve significant expenses, including collaboration fees, site partnerships, and operational costs. The total number of clinical sites has increased to 18, which could enhance operational efficiency and patient recruitment.
2. Intellectual Property Protection: Cybin has secured additional U.S. patent support for its CYB003 program, indicating ongoing investments in intellectual property protection. Patents, like the one issued in May 2025, are expected to provide exclusivity until 2041, which could significantly impact future expenses and revenue streams.
3. Phase 3 Study Progress: The company's Phase 3 studies, APPROACH and EMBRACE, are ongoing or即将开始。这些研究的推进可能涉及大量开支，包括患者招募、临床试验运营、数据收集和 analysis 等。

In conclusion, while the specific financial details of Cybin's expenses in Q3 2025 are not available, it is clear that the company has been actively managing its expenses through strategic partnerships and intellectual property protection, while also investing heavily in its Phase 3 clinical trials. These strategic moves are likely shaping its expense structure and positioning it for future revenue opportunities.