Closes Q3 2021 With $63.2 Million Cash Position VANCOUVER, BC, July 29, 2021 /CNW/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its fiscal third quarter results ended May 31, 2021.
In the third quarter, Numinus maintained a healthy cash position, achieved key milestones in its lab and proprietary portfolio, expanded the clinic network, and continued to advance its basic and clinical research.
All financial results are reported in Canadian dollars unless otherwise stated.
Q3 2021 Highlights:
- Cash balance of $63.2 million as at May 31, 2021.
- Completed $40.3 million bought deal financing and exercised $1.6 million in warrants and options.
- Generated revenues of $562,076 and $1,022,771 for the three and nine months, respectively, ended May 31, 2021, compared to $216,244 and $610,148 for the same periods, respectively, ended May 31, 2020, for a total year-over-year increase of 160% and 68%, respectively.
- Received amendments to the Health Canada licence under Numinus Bioscience, including the addition of Ketamine and LSD to the list of permitted research substances (alongside DMT, MDMA, Mescaline, Psilocin, Psilocybin) and expanded ability to produce finished products for research and supply of other groups. These changes expand the lab's capabilities and position as an industry manufacturer and supplier.
- Announced 7,500 square foot expansion of Numinus Bioscience's research laboratory.
- Announced a Phase 1 clinical trial to assess the safety and efficacy of a Psilocybe extract developed at Numinus Bioscience.
- Announced key milestones in the compassionate access trial of psilocybin-assisted psychotherapy for substance use disorders.
- Made key leadership hires in business development and strategy, clinic operations, communications and marketing, experience design, lab operations and M&A to support growth and innovation.
Highlights Subsequent to Quarter End:
- Announced acquisition of the Neurology Center of Toronto (NCT) for a total of $1.1 million, allowing for the planned expansion of NCT into a comprehensive neurologic care centre specialized in psychedelic neurology.
- Filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a rapid production process containing psychoactive compounds, with the first proprietary extract from Psilocybe cubensis containing psilocybin, other indole alkaloids and additional beneficial compounds.
- Received Health Canada approval for the compassionate access trial of MDMA-assisted therapy in collaboration with the Multidisciplinary Association for Psychedelic Studies (MAPS).
- Uplisted to Tier 1 of the TSX Venture Exchange.
https://www.newswire.ca/news-releases/numinus-wellness-closes-q3-2021-with-63-2-million-cash-position-lab-and-trial-advances-and-strategic-expansion-into-psychedelic-neurology-845511452.html