Trade To Black Podcast: Psychedelic Biotech Experiencing Positive Sentiment Change
In this week’s Trade To Black Podcast, TDR Founder Shadd Dales and lead financial writer Benjamin A. Smith speak with Payton Nyquvest, CEO of Numinus Wellness Inc. (TSE: NUMI) (OTCMKTS: NUMIF). With the psychedelic biotech sector experiencing positive price momentum and increasing deal flow over the past few weeks, Mr. Nyquvest chimes-in to give us his take on the state of the market, increasing institutional interest, how the Numinus-Novamind integration is coming along, and more.
Leading the recent galvanization of industry sentiment is undoubtedly the Netflix docuseries How to Change Your Mind, presented by Academy Award-winning filmmaker Alex Gibney and New York Times best-selling author Michael Pollan in four parts. Each are focused on a different mind-altering substance: —LSD, psilocybin, MDMA, and mescaline—which elicit their own unique medicinal benefits.
Numinus Wellness is currently hosting the Canadian sites for MAPPUSX, sponsored by the Multidisciplinary Association for Psychedelic Studies (MAPS) and organized by MAPS Public Benefit Corporation (MAPS PBC), by enrolling and dosing clinical trial volunteers in Canada. MAPPUSX is a multi-site open-label study assesses the efficacy and safety of 3,4-methylenedioxymethamphetamine (MDMA)-assisted psychotherapy in participants who were enrolled in a parent study for treatment of posttraumatic stress disorder.
Speaking of institutional interest, Payton reports that Numinus has had “more sophisticated inbound, large capital phone calls over the last couple weeks and months than I probably ever had since we started the company. There’s a lot of optimism in regards to—obviously highlighted by President Biden and U.S. Ministry of Health posting, you know, what they’ve posted around the expectation around regulation changes, the clinical data continues to be really compelling.”
Payton goes on to point out the the psychedelic sector is maturing, having gone through its “hype phase” to a more solid foundation where investors have increased confidence in the science. He also provides an operation update on the ongoing integration of the company’s Novamind acquisition, which closed in June.
Click on the embedded link to view more of our psychedelic biotech discussion with Numinus CEO, Payton Nyquvest.
To view the previous Trade To Black Podcast, click here.