Kindly MD, Inc. - KDLY STOCK NEWS

KindlyMD (NASDAQ:KDLY) has submitted a comment to the U.S. Department of Justice regarding the proposed reclassification of cannabis from Schedule I to Schedule III of the Controlled Substances Act. The company welcomes this potential change, which aligns with the growing recognition of cannabis's medical benefits. Key points:

1. Reclassification does not legalize marijuana federally.
2. It may reduce patient costs for medical cannabis products.
3. Cannabis businesses could deduct more expenses, potentially adding significant amounts to their balance sheets.
4. The change creates a more favorable business environment for KindlyMD, possibly enabling service expansion and reduced operational risks.
5. KindlyMD's integrated healthcare model remains relevant, particularly in providing medical cannabis education and evaluation in Utah.

KindlyMD, a healthcare company integrating primary care and pain management, announced its Q1 2024 financial results after its IPO on June 3, 2024.

Key highlights include:

- Revenue of $829,029, a 28.6% decrease from Q1 2023, due to a shift to insurance billing.

- First-time insurance reimbursements of $34,722, compared to $0 in Q1 2023.

- Operating expenses decreased by 21.9% to $1,066,156.

- Net loss per share reduced by 50% to $(0.06).

Post-IPO, KindlyMD raised $6.02 million, ensuring sufficient funding for the next 12 months. Additionally, the company secured contracts with major insurers, providing nearly 80% statewide coverage in Utah and plans to expand through acquisitions and marketing investments.

KindlyMD (NASDAQ: KDLY) has successfully registered on SAM.gov, enabling it to apply for and secure federal funds and contracts. On April 27, 2024, the company submitted its first grant application for the USDA’s Rural Utilities Service Distance Learning and Telemedicine (DLT) Grant Program, aiming to secure $1,000,000 to expand its Complete Care telehealth program in rural Utah. This initiative combines primary care, pain management, and mental health services. Successfully registering on SAM.gov paves the way for KindlyMD to pursue further grants, including SBIRT, ROTA, and MAT-PDOA, to enhance their comprehensive healthcare solutions.

KindlyMD (NASDAQ:KDLY), a healthcare firm integrating primary care, pain management, and alternative therapies, has contracted with Blue Cross Blue Shield, securing nearly 80% comprehensive insurance coverage statewide in Utah. The company is one of the first alternative medical treatment providers in Utah to achieve this status, adding to its existing contracts with Select Health, Medicare, and Medicaid. This expanded coverage is expected to increase patient volume and revenue across all clinics. Founded by Tim Pickett, PA-C, KindlyMD aims to address the opioid crisis by offering non-opioid treatments and medical cannabis education. To date, it has treated over 60,000 patients and remains dedicated to providing accessible, quality behavioral healthcare.

KindlyMD announced a strategic collaboration with Curaleaf to expand medical cannabis education in Utah. The partnership aims to offer holistic pain management and alternative therapies. Community care events will be held throughout the summer at Curaleaf's medical cannabis pharmacies in Lehi, Provo, and Payson. These events aim to educate patients on medical cannabis as a safer, more affordable option for pain management. KindlyMD's Complete Care program will be introduced, offering easier access to medical cannabis care. This initiative aligns with efforts to combat the opioid crisis and promote sustainable healthcare options.

KindlyMD, a healthcare company merging traditional and alternative therapies, announced its credentialing and contracting with Utah's top insurance payors, including Medicare, Medicaid, and Select Health. This achievement makes KindlyMD the first alternative medical treatment firm in Utah to achieve this coverage, which spans nearly 70% of the state's insured individuals. This milestone enables KindlyMD to expand its patient base and revenue by offering reimbursable services, including behavioral healthcare and alternative medicine interventions. The company has treated over 60,000 patients in its clinics.

KindlyMD, a healthcare company listed on NASDAQ under the ticker KDLY, will present at the KCSA Cannabis Virtual Investor Conference on June 5th, 2024. The presentation will be led by CEO Tim Pickett at 3 p.m. ET. KindlyMD integrates traditional primary care, pain management, and alternative therapies, including medical cannabis, in compliance with state regulations. Investors can register online and access an archived webcast if they miss the live event.

WallachBeth Capital announced the successful completion of KindlyMD's IPO, raising $6.8 million in gross proceeds. The IPO involved the sale of 1,240,910 units at $5.50 each. Each unit includes one share of common stock, one tradeable warrant, and one non-tradeable warrant. The shares and tradeable warrants began trading on Nasdaq under the symbols 'KDLY' and 'KDLYW'. Additionally, KindlyMD has granted underwriters a 45-day option to purchase up to an additional 186,136 shares and warrants to cover over-allotments. WallachBeth Capital served as the Sole Bookrunner for the offering.

KindlyMD (NASDAQ:KDLY, KDLYW) has completed its initial public offering (IPO) of 1,240,910 units at $5.50 per unit, raising approximately $6.8 million in gross proceeds. Each unit includes one share of common stock, one tradeable warrant to purchase a share at $6.33, and one non-tradeable warrant to purchase half a share at $6.33. The shares and warrants began trading on Nasdaq on May 31, 2024. WallachBeth Capital is the sole bookrunner. KindlyMD has also granted underwriters a 45-day option to purchase additional shares and warrants to cover over-allotments.