Numinus Wellness inc: Leading in the psychedelics race – Proactive Investors UK

Posted: December 22, 2021 at 12:37 am

Numinus is a life sciences company with a focus on mental health and wellness. The company is engaged in research, development and delivery of safe, evidence-based psychedelic-assisted psychotherapy. During 2021 the company has made steady progress in revenue generation and in the development of new capabilities. In this report, we examine some of these developments.

Numinus has recently released its results for Q4 2021 (period ending August 31). The company reported revenue growth of 81% versus Q4 2020, and 72% growth in full-year revenue. Growth was driven by increased activity at the therapy clinics, with 2,671 therapy appointments in Q4. We expect continued growth in revenue during FY 2022, and we maintain our revenue forecasts for the company. Our full forecasts can be found on p8-10.

In September 2021 Numinus completed the acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurological care with specialist expertise in the use of medical cannabis. Going forward NCT will expand into a clinical neurology centre with specialization in psychedelic neurology. The acquisition takes Numinus to five wellness clinics in total and will contribute to further revenue growth in the coming quarters.

Also in recent months, the company announced that it had finalized the study design and protocol for a phase I clinical trial for a proprietary formulation called PSYBINA, which is based on psilocybin derived from mushrooms. The trial will ascertain the safety and bioavailability of the formulation in comparison with pure psilocybin. There is growing evidence that psilocybin based therapies can provide benefit to patients being treated for a variety of indications, and we believe that Numinus work with PSYBINA positions the company to become an early implementer of these therapies as and when regulations allow wider patient access.

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Numinus Wellness inc: Leading in the psychedelics race - Proactive Investors UK

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