12 Best Canadian Stocks With Huge Upside Potential

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1. Cybin Inc. (NYSEAMERICAN:CYBN)

Number of Hedge Fund Holders: 10

Average Upside Potential as of June 20: 838.30%

Cybin Inc. (NYSEAMERICAN:CYBN) is one of the best Canadian stocks with huge upside potential. On June 3, Cybin announced that the US Patent and Trademark Office granted US Patent No. 12,318,477. The new patent supports Cybin’s CYB004 deuterated N, N-dimethyltryptamine (DMT) program, which is currently in Phase 2 development for the treatment of generalized anxiety disorder/GAD.

The patent is expected to provide exclusivity until 2040 and covers novel formulations of DMT and deuterated isotopologues specifically for intramuscular/IM injection, including CYB004. The CEO of Cybin, Doug Drysdale, emphasized that the CYB004 program aims to offer a short-duration and rapid-acting treatment for anxiety disorders through patient-friendly IM administration. Dosing for the Phase 2 study of CYB004 in GAD is presently underway, with the study expected to be completed in mid-2025.

Cybin’s intellectual property portfolio consists of 90+ granted patents and 230+ pending applications. Beyond CYB004, the company is also developing CYB003, which is a proprietary deuterated psilocin program and is in Phase 3 development for the adjunctive treatment of major depressive disorder. Cybin maintains a research pipeline of investigational, 5-HT-receptor focused compounds and operates in Canada, the US, the UK, the Netherlands, and Ireland.

Cybin Inc. (NYSEAMERICAN:CYBN) is a clinical-stage biopharmaceutical company that develops psychedelic-based therapeutics for patients with mental health conditions.

While we acknowledge the potential of CYBN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CYBN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None.

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