Trade To Black Podcast: Numinus CEO Breaks Down B.C. Drug Possession News And Macro Psychedelic Market
In this week’s Trade To Black Podcast, TDR Founder Shadd Dales and lead financial writer Benjamin A. Smith interview Numinus Wellness Inc. (TSE:NUMI) (OTCMKTS: NUMIF) CEO, Payton Nyquvest. The guest appearance follows this past week’s announcement that effective Jan. 31, 2023, British Columbians 18 and older will be able to carry up to a cumulative total of 2.5 grams of these illicit substances without the risk of arrest or criminal charges. Payton opines on the importance of this development and provides targeted psychedelics industry commentary.
Trade To Black Podcast Cliffsnotes:
@1:35 Canadians 18 years of age and older will be able to possess up to a cumulative 2.5 grams of opioids, cocaine, methamphetamine and MDMA within B.C. as of Jan. 31, 2023. How severe is the drug abuse problem in B.C.?
@2:51 What has been the general response to the B.C. possession news? The Portugal model discussed.
@4:30 Are the detractors of small-scale narcotic legalization wrong? Data from the Portugal model of limited legalization shows conclusively that it works. Criminal activity, arrests, addiction rates all decreased substantially following the move. Resources allocated to the right places.
@8:02 The rollout plan for B.C. drug possession looked at through a mental health lens.
@9:24 Reaction to Vancouver mayor Kennedy Stewart quote—”I feel like crying, and I still feel like crying”—upon hearing recent overdose death statistics in the city.
@12:20 How does the B.C. decision advance the need for mental health in relation to the services that Numinus Wellness provides?
@15:50 Prominent psychedelic investors such as Christian Angermayer are convinced the safety profile of many psychedelic drugs is sound. Payton Nyquvest weighs-in on whether he’s confident upcoming Phase 2/3 studies will prove this out.
@18:52 The Multidisciplinary Association for Psychedelic Studies (MAPS) is on record in their belief that MDMA will be approved by the FDA for therapeutic use in the United States. Payton shares his views on potential timelines.
@21:26 Novamind reported fiscal Q3 2022 financial results this past week. Payton’s thoughts on the results and whether Novamind has the capacity to transition quickly to MDMA therapeutic therapy upon FDA approval.
Macro Psychedelic Market
@23:25 Most people agree that psychedelic stocks boomed very early—perhaps earlier than the fundamentals warranted. What is the next monumental moment or catalyst in the industry to really get investors to re-engage again?
@28:00 The amount of general interest and cultural shift in mental health is through the roof.
@30:23 The mental issues related to the COVID pandemic are starting to come to the forefront. Macro economic and biotech industry discussed.
@33:04 Opportunity in psychedelic biotech given the favorable long term growth profile of the industry.
@35:25 The most frequent questions investors ask Payton.
@37:17 Plenty of distressed assets in the psychedelic space. Numinus is looking at various assets that could be accretive to their operating model.
To view our previous Trade To Black Podcast, click here.