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What You Need to Know About Numinus Wellness…

Sep 15, 2022 • 8:20 AM EDT
2 MIN READ  •  By Michael berger
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A few years ago, we started to follow Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) and consider the company to be an attractive way to be levered to the psychedelic sector.

During the last year, the psychedelic sector has been under considerable pressure and Numinus has been impacted by the trend. Although the recent performance is concerning, we believe the management team is highly focused on creating value for shareholders and want to provide an update on the business.

Earlier this week, Numinus issued an update on the integration of the Novamind acquisition and reported several important milestones since completing the transaction. Over the next year, we expect the transaction to play an important role in the growth of the business and want our readers to be aware of a number of recent achievements:

  1. During August, Novamind had more than 6,200 client appointments in Canada and in the United States (US). This number is 25% higher than the prior month and we are impressed with the growth
  2. Novamind owns eight US wellness clinics (six in Utah and two in Arizona) and we are bullish on the growth potential that is associated with its footprint
  3. Numinus provides a wide range of mental health care services including traditional therapy, counseling, Transcranial Magnetic Stimulation (TMS), Ketamine-assisted therapy, and psychedelic-assisted therapy
  4. When compared to July, the number of Ketamine therapy sessions at Numinus’ US clinics in August increased by 35%
  5. The clinical trial management division that was a part of the transaction continues to achieve positive operational growth for Numinus. In the fiscal fourth quarter, the division recruited 178 clinical trial participants for 16 third-party clinical studies, representing an 19% increase in clinical trial participation compared to the fiscal third quarter.

In late November, Numinus will report fiscal fourth quarter financial results and we expect the acquisition to start to have a positive impact on the business. During the last year, Numinus has reported a series of positive developments and we are favorable on how the business has evolved since 2021.

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

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Michael berger

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