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Numinus Wellness Is One Of The Bright Spots Of The Psychedelic Sector

Jul 22, 2022 • 5:46 AM EDT
2 MIN READ  •  By Anthony Varrell
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Although 2022 has been a challenging year for the psychedelic sector, we believe the industry is reaching an inflection point and have been closely following several operators which are levered to the emerging health-care vertical.

Today, we have highlighted a leading psychedelic therapy company which recently reported quarterly financial results and believe our readers need to be aware of the business. 

The company, Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) released third quarter financial results earlier this month and reported more than 30% revenue growth (on a year-over-year basis). The mental health care company is highly focused on advancing innovative psychedelic-assisted therapies and has 13 wellness clinics in North America. 

Numinus also operates four clinical research sites as well as a dedicated psychedelics research facility. The third quarter was highlighted by the acquisition of Novamind and we will monitor how the transaction supports growth in the fourth quarter and beyond. The acquisition positions Numinus as a leading, integrated mental healthcare company which provides psychedelic-assisted therapies and is an operator that we will continue to closely follow. 

During the last month, Numinous has been looking for support and we are closely monitoring the post-earnings trend. The stock has dropped more than 65% from its high in January and we have been surprised by the size of the pullback. We believe the mental health company has made significant advancements and will monitor how the management team continues to execute on its multi-faceted growth strategy. 

At current levels, we believe that Numinous has a favorable risk-reward profile and classify it as an operator with visible growth catalysts. We are of the opinion that the integrated mental healthcare company owns strategic assets and is well positioned to capitalize on a burgeoning vertical of the psychedelic industry.  

If you are interested in learning more about Numinus Wellness’ earnings report, please send an email to support@mushroomstocks.com with the subject “Numinus Wellness Reports Earnings” to be added to our distribution list.

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Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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