In this episode of The Dales Report, we’re sitting down with Numinus Wellness CEO Payton Nyquvest for a psychedelic exclusive. Our topic of conversation with Payton today steers into the recent FDA warning and the dynamic world of off-label markets for new compounds.
First up: The FDA made news with a warning about using ketamine to treat psychiatric disorders. This highlights one of the issues in the evolving landscape of mental health treatments. While the warning focused on oral formulations, the FDA did stress that Ketamine in general was not currently FDA-approved for any psychiatric treatments.
Together, Shadd and Payton discuss the reasons for the FDA warning and their thoughts about how it might affect market demand. Shadd engages in a candid conversation with Payton about the state of the psychedelics industry and a cautious approval process for new treatments. The ongoing pandemic has emphasized need for proper mental healthcare treatment. However, slow approval of psychedelics and assisted therapies is resulting in a distracted and uncertain market.
We explore the dual-class share structure’s benefits. It could mean increased visibility and the ability to raise capital when needed. Therapy is pivotal in MDMA research and will likely play a big part in approvals. We emphasize the importance of in-person therapy for successful MDMA treatment, highlighting the absence of a virtual model for the drug.
Tackling the industry challenges of mental health reimbursement, Shadd and Payton examine financial concerns for companies, addressing the progress, reduced burn rate, and path to profitability. Shadd further elaborates on the effects of inflation in people’s daily lives and the company’s commitment to making its services financially accessible.
* In accordance with an executed agreement between The Dales Report and Numinus Wellness, The Dales Report is engaged with the aforementioned on a 12-month contract for $10,000 per month, with the purpose of publicly disseminating information pertaining to Numinus Wellness via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.