Eric H. L. So, Executive Chair of Cybin Inc. (CYBN), disclosed another open-market purchase of company stock in a Form 4 filing, adding to a fast-growing cluster of insider buying at the biotech firm.
According to the filing, So bought 100,000 shares on September 8, 2026 at $12.39 per share, a purchase worth $1,238,670. Following the transaction, he holds 4,465,014 shares directly.
Part of a Broader Buying Pattern
This latest purchase is not an isolated event. It is the third open-market buy from Cybin insiders in a one-week span, between September 1 and September 8, 2026. Together, the three transactions total $3,569,045 in insider purchases — a pattern that has caught the attention of trackers who monitor cluster buying as a signal worth watching.
We first flagged this activity earlier in the week when the cluster stood at $2.3 million; readers can find that earlier coverage at Cybin (CYBN) Chair Buys $1.2M as Insider Cluster Hits $2.3M. So’s newest purchase pushes the total higher still, and it marks his second disclosed buy within the same window.
Cluster buying — when multiple insiders at the same company purchase shares independently within a short period — is generally treated as a stronger signal than any single transaction alone, since it suggests more than one executive independently views the current price as attractive. Academic research on insider trading disclosures has found that clustered purchases, in aggregate, have historically correlated with periods of subsequent outperformance relative to the broader market, though this relationship is a statistical pattern observed across many companies over time, not a guarantee for any individual case.
So’s role as Executive Chair means he sits closest to Cybin’s strategic and financial planning, and his continued willingness to commit personal capital at a rising cluster total adds another data point for anyone tracking the company’s insider activity. The filing shows the purchase was made directly, with no derivative securities involved, and the shares are held outright rather than through a trust or other indirect vehicle.
Cybin has now seen three separate insider transactions in just over a week, spanning different roles within the company. Combined with the earlier purchase by the company’s Chief Growth Officer, the picture that emerges is one of concentrated, near-simultaneous buying activity across Cybin’s leadership team, rather than a single executive’s isolated decision.
This article reports on a publicly filed SEC Form 4 disclosure and is intended for informational purposes only.
→ See all CYBN coverage on WhoIsBuyingNow
Source: original SEC Form 4 filing.