NVMDF - NVMDF STOCK NEWS

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced the launch of Groups by Novamind, expanding its clinical care model to increase patient access to evidence-based mental health treatments. The pilot program offers group therapy options, including psychedelic integration and in-person sessions for 4 to 10 individuals. Many offerings will be eligible for insurance reimbursement. This initiative aims to improve accessibility and outcomes for patients facing various mental health issues. Virtual options will also be available, further enhancing reach across Novamind's clinic network.

Novamind has been selected by Mind Medicine (NASDAQ:MNMD) to host a phase IIb clinical trial investigating the effects of lysergic acid diethylamide (LSD) on generalized anxiety disorder (GAD) in adults. This historic trial is the first commercial study of LSD in over 40 years, aiming to enroll 200 participants at Novamind's Draper, Utah site.

The trial will explore the efficacy of MM-120, a proprietary form of LSD, over 12 weeks. This collaboration reinforces Novamind's position as a leading provider of psychedelic medicine and clinical trials.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) announced on March 11, 2022, the grant of 325,000 restricted share units (RSUs) to executives and employees. The RSUs will vest in 25% intervals every six months. These units and underlying common shares will be subject to a four-month and one-day hold period under Canadian Securities Exchange policies. Novamind is focused on mental health treatment via psychedelic medicine, providing services such as ketamine-assisted psychotherapy and conducting clinical trials for innovative mental health solutions.

Novamind Inc. has completed the first patient randomization in its phase II clinical trial investigating psilocybin for major depressive disorder (MDD) at its Draper, Utah research site. The trial, sponsored by the Usona Institute, aims to explore psilocybin's potential as a therapy amidst a global mental health crisis affecting approximately 280 million people. With prior regulatory approvals, Novamind seeks to enhance its clinical research in psychedelic medicine, aiming for regulatory advancements and improved patient outcomes.

Novamind reported record revenue of $2,452,540 for Fiscal Q2 2022, a 32% increase from the previous quarter. The company opened a new outpatient clinic in downtown Salt Lake City and has a robust pipeline of clinical trials focused on psychedelics and mental health. In January 2022, it acquired an Arizona-based mental health practice, enhancing its network with two additional clinics and raising $5,000,000 through a private placement. CEO Yaron Conforti emphasized ongoing patient demand and the company's commitment to innovative mental healthcare.

Novamind Inc. (CSE:NM, OTCQB:NVMDF, FSE:HN2) has launched Healing Stories, a series of case studies showcasing patient experiences with psychedelic-assisted psychotherapy. This initiative aims to destigmatize mental illness and raise awareness about psychedelic medicine. The initial stories highlight frontline healthcare workers and a patient struggling with severe depression, illustrating the impact of ketamine-assisted psychotherapy (KAP). CEO Yaron Conforti emphasizes the importance of personal narratives in breaking stigma and encouraging individuals to seek help.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) reports on its clinical pilot for group ketamine-assisted psychotherapy targeting healthcare workers. Launched in July 2021 with Wholeness Center, the pilot addresses pandemic-related stress among participants. Data analysis will conclude in March 2022, with interim results indicating reduced depression and anxiety scores. The protocol aims to make treatment accessible at all Novamind clinics, enhancing affordability with a therapist-to-patient ratio of 2:4. The initiative reflects Novamind's commitment to innovative mental health solutions.

Novamind Inc. announced the enrollment of participants in a phase II clinical trial at its Draper, Utah site, focusing on an antidepressant for adults grappling with major depressive disorder (MDD) and post-traumatic stress disorder (PTSD). This trial, sponsored by Alto Neuroscience, aims to utilize real-world data and machine learning to identify patient responses to the drug candidate ALTO-100. Novamind's role enhances its reputation in psychedelic medicine and precision psychiatry, contributing valuable insights into mental health treatment.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced the appointment of Prakash Gowd as Chief Operating Officer, succeeding Pierre Bou-Mansour. Gowd, who joined Novamind in 2020 as Senior Vice President of Corporate Development, has been instrumental in the company's strategy and recent acquisition of a mental health practice in Arizona. With over 25 years of experience in healthcare and capital markets, Gowd aims to enhance operational excellence and expand Novamind's network of psychiatry clinics and research sites.