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About Numinus Wellness Inc. (NUMIF)
Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) is a pioneering mental health care company dedicated to advancing traditional and innovative behavioral health treatments, with a particular emphasis on safe, evidence-based psychedelic-assisted therapies. Headquartered in Vancouver, British Columbia, Numinus integrates clinical research, therapeutic services, and practitioner training to address complex mental health challenges such as depression, anxiety, trauma, pain, and substance use disorders. The company’s mission is to transform mental health care by focusing on healing rather than merely managing symptoms, thereby fostering a healthier society.
Core Business Areas
- Clinical Research: Through its Cedar Clinical Research (CCR) division, Numinus is at the forefront of psychedelic clinical trials, supporting drug developers in exploring the efficacy and safety of novel therapies for conditions like Major Depressive Disorder (MDD). CCR has participated in multiple high-profile trials, showcasing its expertise in advancing groundbreaking treatments.
- Therapeutic Services: Numinus operates a network of wellness clinics in the United States, providing evidence-based therapies, including ketamine and esketamine treatments. These services are supported by a robust call center and expertise in insurance reimbursement, ensuring accessible and high-quality care for patients.
- Practitioner Training: The company offers comprehensive training programs for health care providers, equipping them with the skills needed to deliver psychedelic-assisted therapies. These programs are accredited by major regulatory bodies in Canada and the U.S., enhancing the professionalization of this emerging field.
Market Position and Differentiation
Numinus is strategically positioned within the rapidly evolving mental health care and psychedelic-assisted therapy sectors. By integrating clinical research, therapeutic services, and training under one umbrella, the company offers a unique value proposition that sets it apart from competitors. Its partnerships with leading organizations and its role in pivotal clinical trials further underscore its commitment to innovation and evidence-based practices.
Operational Focus and Recent Developments
Numinus has recently undertaken significant restructuring efforts to streamline its operations and focus on its core business areas. This includes transitioning out of Canadian clinical operations and forming strategic partnerships to optimize resource allocation. The company remains committed to achieving profitability through an asset-light model while continuing to expand its impact in the U.S. market.
Commitment to Expertise and Trust
Numinus is led by a team of seasoned professionals with deep expertise in mental health care, clinical research, and corporate strategy. Its adherence to rigorous scientific standards and regulatory compliance ensures the safety and efficacy of its treatments. By fostering transparency and collaboration, Numinus builds trust among patients, practitioners, and stakeholders alike.
Conclusion
Numinus Wellness Inc. is not just a company; it is a catalyst for change in the mental health care industry. By championing innovative therapies and integrating them into mainstream clinical practice, Numinus is paving the way for a future where mental health challenges are addressed with compassion, science, and efficacy.
Numinus Wellness Inc. (TSX: NUMI; OTCQX: NUMIF) held its Annual General and Special Meeting of Shareholders on February 15, 2023, with 43,610,863 shares (16.6% of the total) represented. Five proposed nominees were elected as Directors for the upcoming term. Notably, Payton Nyquvest received 85.26% approval, while Edwin Garner garnered 98.48%. Shareholders also approved the appointment of Davidson & Company LLP as auditors and the Omnibus Equity Incentive Plan. The outcomes were detailed in the Management Information Circular dated January 18, 2023, available on SEDAR.
Numinus Wellness has received approval from Health Canada for a groundbreaking clinical trial studying the safety and efficacy of whole Psilocybe cubensis tea, branded as EnfiniTea. This trial is historic as it is the first to evaluate whole mushrooms in a clinical environment, aiming to enhance access to psilocybin-assisted therapy. The study will also offer experiential training for therapists, ensuring a skilled workforce for future treatments. The trial will take place at Numinus' Vancouver clinic, with initial results anticipated in the second half of 2023.
Numinus Wellness, a leader in psychedelic-assisted therapy, reported a remarkable 618% year-over-year revenue growth to
Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF), a pioneer in mental health care and psychedelic-assisted therapies, will announce its financial results for Q1 2023, ending November 30, 2022, on January 16, 2023. The results will be disclosed after market close, followed by a conference call and webcast at 5:30 p.m. Eastern time. Participants can register for the live event and access a replay after the call. Numinus focuses on innovative treatments for mental health issues, aiming to integrate these therapies into mainstream practice.
Numinus Wellness has submitted a clinical trial application to Health Canada to conduct an experiential training study for therapists in Psilocybin-Assisted Therapy (PAT). The trial will utilize Numinus Bioscience's EnfiniTea for dosing, marking one of the first studies globally on whole Psilocybe mushroom safety. This Phase 1 trial will take place at Numinus' Vancouver clinic and aims to enhance therapist training and knowledge. The results may influence regulatory access to psychedelic-assisted therapies in Canada.
Numinus Wellness reported Q4 2022 revenues of $4.2 million, a 643% increase year-over-year, driven by the acquisition of Novamind. Gross margin improved to 31.5%, resulting in a gross profit of $1.3 million. The company ended the quarter with a cash position of $33.0 million. Fiscal 2022 revenues totaled $6.5 million, marking a 329% increase from the prior fiscal year. Despite significant revenue growth, the company recorded a net loss of $24.7 million in Q4 2022, driven by substantial impairment charges and increased administrative expenses.
Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) will participate in a Water Tower Research Fireside Chat on December 8, 2022, at 11:00 a.m. ET. Founder and CEO Payton Nyquvest will discuss key takeaways from the company's Q4 and Year End 2022 Results, including the impact of their Novamind acquisition and expectations for 2023. Interested participants can register here.
Numinus Wellness will release its financial results for Q4 and the fiscal year ending August 31, 2022, on November 29, 2022, after market close. A conference call will follow at 5:30 p.m. Eastern to discuss performance and initiatives. Interested participants can register for the live webcast or dial in using specified numbers. A replay will be available post-call until December 13, 2022. Numinus focuses on innovative mental health care and psychedelic-assisted therapies, aiming to transform treatment for conditions like depression and anxiety.
Numinus Wellness Inc. has announced the re-launch of its podcast, Psychedelic Therapy Frontiers, aimed at promoting education in psychedelic-assisted therapy. Hosted by experts including Dr. Stephen Thayer, Dr. Reid Robison, and Dr. Joe Flanders, the series will discuss the efficacy of psychedelic treatments for mental health issues like depression and PTSD. New episodes will air every Tuesday across major podcast platforms. This initiative enhances Numinus' commitment to integrating innovative mental health solutions into mainstream practice.
Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) announced its participation in the Wonderland conference in Miami from November 3-5, 2022. Dr. Reid Robison, Chief Clinical Officer, will present on the neurobiological differences between classic psychedelics and ketamine on November 5 at 9:50 a.m. ET. Numinus focuses on innovative mental health treatments, facilitating access to safe psychedelic-assisted therapies and aims to integrate these therapies into mainstream clinical practice, addressing conditions like depression and anxiety.
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