This is a TDR Psychedelics Exclusive, and today we reconnect with Payton Nyquvest, founder and CEO of Numinus Wellness (TSX: NUMI). Payton highlights their recent press release announcement highlighting several initiatives aimed at better positioning the company.
For curious investors not familiar with the psychedelics space, Numinus Wellness is a Canadian-based company at the forefront of the emerging field of psychedelic-assisted therapies and research. The psychedelic molecules company is engaged in researching and developing include psylocibin, MDMA, DMT, and Ketamine.
In the press release, some of the initiatives comprise the recent announcement involving their Numinus Network, welcoming their first practitioner partner agreement, and recent cost containment initiatives. The cost containment initiatives are designed to enable the company to have a run rate stretched out past potential regulatory MDMA approval from the FDA. FDA approving MDMA is something most in the industry believe isn’t even a question of ‘if’ any longer – it’s only a question of when.
Nyquvest also discusses the exciting psychedelics research happening in Australia, and how this is likely to generate a lot of attention within the next one to two months. He expects it to reaffirm and improve the first trial results.
Eventually, what he believes will be approved is an intervention, using the drug in combination with therapy. That, of course, means a clinical model, and Nyquvest shares how the company is well positioned to provide psychedelic-assisted therapy reimbursement as a result of recent U.S. insurance payor code approval, and how it can scale. Training will be one factor; administration sites will be another. Numinus has a plan, and Nyquvest believes getting trained and prepared for MDMA assisted therapy should begin now.
Nyquvest goes into more details about how these initiatives, and others like the Numinus Network, have been part of an effort to become the industry leading commercialization platform for psychedelic assisted therapy. Here’s the latest.
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