Welcome to our dedicated page for NUMINUS WELLNESS news (Ticker: NUMIF), a resource for investors and traders seeking the latest updates and insights on NUMINUS WELLNESS stock.
Numinus Wellness Inc. (NUMIF) is a mental health care company dedicated to advancing traditional and innovative behavioral health treatments through safe, evidence-based psychedelic-assisted therapies. They aim to heal rather than manage symptoms of depression, anxiety, trauma, pain, and substance use. By leading the integration of psychedelic-assisted therapies into mainstream clinical practice, Numinus is pioneering a healthier society. Numinus helps individuals heal and be well by providing innovative mental health care and access to safe, evidence-based therapies.
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Numinus Wellness Inc. is ceasing operations at its non-revenue producing research lab and consolidating clinic operations to improve performance and client experience. These actions are expected to save nearly C$1 million in annual cash expenses, improving company margins and supporting profitability. The company will retain all intellectual property and licenses. Clinic locations are being consolidated and leases for research clinics in Montreal and Vancouver will not be renewed. These changes are expected to enhance service levels and client experience. Overall, these actions are expected to reduce annual cash expenses by C$1 million without significant impact on revenue. Numinus believes these actions will improve margins and accelerate its path to positive cash flow and profitability.
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Numinus Wellness Inc. announced its Q3 2023 financial results. Revenues grew 713.3% YoY to $6.0 million and 12.6% from the previous quarter. Gross profit was $2.1 million, a 1051.6% YoY increase. The company incurred $0.6 million of one-time expenses due to staff reductions. Cash position was $13.0 million as of May 31, 2023. Activities during Q3 position the company well for the expected future approval of MDMA-assisted therapy.
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Numinus Wellness Inc. to present at Small Cap Growth Virtual Investor Conference on July 13, 2023
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FAQ
What is the current stock price of NUMINUS WELLNESS (NUMIF)?
The current stock price of NUMINUS WELLNESS (NUMIF) is $0.0321 as of November 22, 2024.
What is the market cap of NUMINUS WELLNESS (NUMIF)?
The market cap of NUMINUS WELLNESS (NUMIF) is approximately 12.7M.
What is Numinus Wellness Inc. focused on?
Numinus Wellness Inc. is dedicated to advancing mental health care through traditional and innovative behavioral health treatments with a focus on safe, evidence-based psychedelic-assisted therapies.
What is Numinus Wellness Inc.'s mission?
Numinus Wellness Inc. aims to heal rather than manage symptoms for various mental health conditions such as depression, anxiety, trauma, pain, and substance use by integrating psychedelic-assisted therapies into mainstream clinical practice.
How does Numinus Wellness Inc. contribute to mental health care?
Numinus Wellness Inc. provides innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies, leading to healing and well-being for individuals.
What sets Numinus Wellness Inc. apart from other mental health care providers?
Numinus Wellness Inc. distinguishes itself by promoting healing through psychedelic-assisted therapies rather than symptom management, pioneering a healthier society.
What is the goal of Numinus Wellness Inc. in the mental health care space?
Numinus Wellness Inc. aims to integrate psychedelic-assisted therapies into mainstream clinical practice, transforming mental health care and building a foundation for a healthier society.
NUMINUS WELLNESS INC
OTC:NUMIF
NUMIF Rankings
NUMIF Stock Data
12.74M
309.90M
3.85%
2.67%
Medical Care Facilities
Healthcare
United States of America
Vancouver