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Novamind review3/10/2023 If Wellbeing wants to continue spending at the same rate, they will have to get creative in how they raise cash. Unfortunately, as their market cap is only C$4.13 million, raising money will also be difficult. Given the net loss for the quarter, compared to the amount of cash Wellbeing has on hand, it appears the company is in a tough spot. In total, the company has C$17.7 million in total assets. Wellbeing had revenue of C$1.6 million in the quarter, and they have C$298,125 in cash and cash equivalents. This comes out to a loss of C$0.04 per share. The team has worked tirelessly to move this program into the clinic, and we look forward to initiating the study in mid-2022 and further supporting our mission to develop psychedelics into therapeutics.” Wellbeing Digital Sciences Announces Q3 Financial Resultsįor the quarter that ended on April 30th, 2022, Wellbeing Digital Sciences (NEO: MEDI, OTC: KONEF, FRA: SQ2) had a net loss of C$5.4 million. Among other improvements over the original that Cybin claims, CYB003 is said to have a shorter duration of effect and be safer.Ĭommenting on the news, Doug Drysdale, Chief Executive Officer of Cybin, said “IRB approval of our trial protocol is a significant regulatory milestone for CYB003 as it leads us one step closer to potentially providing this important treatment option to people in need. This week, Cybin (NEO: CYBN, NYSE: CYBN) announced that they had “received Institutional Review Board (“IRB”) approval to begin the first-in-human Phase 1/2a clinical trial evaluating CYB003.” CYB003 is Cybin’s proprietary, next-generation psilocybin. Cybin Receives Institutional Review Board Approval for its Phase 1/2a Clinical Trial Evaluating CYB003 for the Treatment of Major Depressive Disorder ![]() However, there is still some paperwork required before it is officially granted. The lead molecule in Family #1, MSP-1014, is expected to enter a Phase 1 clinical trial this year, with the eventual goal of treating depression.Ī “Notice of Allowance” is granted when the patent office believes that a patent application qualifies for a patent. Mindset Pharma (CSE: MSET, FSE: 9DF, OTCQB: MSSTF) has received a “Notice of Allowance” from the United States Patent and Trademark Office for their Family #1 of next-generation psychedelics.įamily #1 consists of second-generation psilocybin molecules, which Mindset says have the potential to be safer, stronger, and more cost-effective than the original. ![]() Mindset Pharma Receives Notice of Allowance for Patent Application Covering Psilocin Derivatives for the Treatment of Central Nervous System Disorders Paul Thielking (MD) will become the Chief Science Officer. Reid Robison (MD) will become the Chief Clinical Officer of Numinus, and Dr. ![]() Joining the leadership team from Novamind, Dr. Of course, Numinus will still be running a large deficit. Presumably, this is a starting point and revenue will continue to rise going forward. The combined company -continuing to operate under the Numinus banner- will have an annual revenue of C$11.9 million, calculated from the trailing four quarters. Now, Numinus has 13 wellness clinics, four clinical research facilities, and a dedicated psychedelics research lab. It’s official! Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) has completed the acquisition of Novamind. Numinus Completes Acquisition of Novamind and Announces Executive Appointments While we don’t know when this deep dive is coming, it is good news to hear the project is still being worked on by ARK. Despite ARKK falling nearly 70% in the last year, there are still armies of retail investors who have bought into Cathie Woods’ vision of investing in the technologies of the future. This will likely excite retail investors who are fans of both psychedelic stocks and ARK Invest. That changed on June 12th, when, in response to a Twitter inquiry asking when the deep dive was coming, ARK research associate Pierce Jamieson responded, “It's coming, be patient.” Unfortunately, since then we have heard radio silence on the ARK psychedelic stocks research. This came after their ARK Genomic Revolution ETF (NYSE: ARKG) made several initial investments into Compass Pathways (Nasdaq: CMPS). You will likely recall that earlier this year it was announced that Cathie Woods’ ARK Invest (NYSE: ARKK) was conducting a “deep dive” into psychedelic stocks. ![]() Leading this week's psychedelic business news, ARK Invest progresses its deep dive into psychedelic stocks. ARK Invest's Deep Dive on Psychedelic Stocks is “Coming”
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