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Jan 20, 2022, 16:01 ET
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All financial results are reported in Canadian dollars unless otherwise stated.
VANCOUVER, BC, Jan. 20, 2022 /PRNewswire/ – Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTC: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its fiscal first quarter results for the three months ended November 30, 2021.
"We have made significant advancements in all areas of our business over the last several months, with many exciting opportunities on the horizon," said Payton Nyquvest, Founder and CEO. "Of note, the partnership across our lab and clinical teams has been instrumental in passing key milestones on two major clinical trials: one for a proprietary Psilocybe formulation and the other a MAPS-sponsored MDMA study. In addition, we’re continuing to make discoveries in our Bioscience lab and recently begun genetic testing on several newly-acquired psychedelic mushroom species." 
Mr. Nyquvest continued, "The recent amendments by Health Canada to the Special Access Programme further underscore the importance and growth potential of Numinus’ wellness clinic network. With facilities purpose-designed for a wide range of psychedelic-assisted psychotherapies, therapists already trained on providing Psilocybin-assisted and MDMA-assisted therapies, and a Health Canada distribution license that allows us to import, possess, produce, and distribute psychedelic compounds – Numinus is well positioned as a national leader to provide these important treatments to those who qualify. I’m encouraged by the recent changes by Health Canada and proud of everyone at Numinus for the ongoing leadership, drive and commitment to our mission over the past quarter."
First Quarter Financial Highlights:
Operational Highlights During and Subsequent to Fiscal First Quarter 2022:
Numinus Bioscience – Laboratory Operations
Phase 1 clinical trial on NBIO-01:
MAPS-sponsored MDMA-assisted therapy for PTSD clinical trial study ("MAPPUSX"):
Subsequent to the quarter:
Numinus Health – Numinus Wellness Clinic Network
Subsequent to the quarter:
Corporate Updates
Industry Updates
Q1 2022 Key Performance Metrics:
For the quarter ended November 30:
2022
2021
% change 
     Numinus Bioscience¹ revenue
141,702
196,090
-27.7%
     Numinus Health² revenue
647,915
33,098
1,857.6%
Total Revenue
$789,617
$229,188
244.5%
Cost of revenue
(738,652)
(267,323)
176.3%
Gross Profit (Loss)
$50,965
$(38,135)
n.m.
   Gross profit margin
6.5%
-16.6%
n.m.
General and administrative expenses
(3,736,890)
(1,285,448)
190.7%
Share-based compensation
(400,568)
(174,250)
129.9%
Sales and marketing expenses
(760,519)
(269,243)
182.5%
Depreciation
(51,829)
(91,261)
-43.2%
Research and development expenses
(330,626)
(89,727)
268.5%
Transaction costs
(45,092)
—
100.0%
Loss before other items
$(5,274,559)
$(1,948,064)
170.8%
Other items
(79,530)
19,327
n.m.
Loss and comprehensive loss
$(5,354,089)
$(1,928,737)
177.6%
Loss per share, basic and diluted
$(0.03)
$(0.02)
50.0%
Average number of shares outstanding, basic and diluted
203,409,202
112,364,998
81.0%
¹ Numinus Bioscience consists of revenues generated through Numinus’ Laboratory Operations.
² Numinus Health consists of revenues generated through Numinus’ clinic network.
Numinus’ condensed consolidated financial statements for the three months ended November 30, 2021 and related management’s discussion and analysis are available on Numinus’ Investor Relations website at www.investors.numinus.com and under the Company’s profile on SEDAR at www.sedar.com.  These documents were prepared in accordance with IFRS and with TSX-Venture disclosure timeline requirements, as the company was listed on the TSX-Venture at quarter end.
Conference Call and Webcast Details
Interested parties are invited to participate in the Company’s Q1 2022 results conference call and webcast. On the call Numinus executives will review the Company’s performance and recent initiatives, and answer questions from analysts.
Date:
Thursday, January 20, 2022
Time:
5:30 p.m. (EST)
Dial-In:
1 (833) 989-2968 (Toll-free North America), 1 (236) 714-4028 (International)
Code:
2670376
Webcast:
https://event.on24.com/wcc/r/3574506/6105A28282486D6F95F7834E9C5632E2
The webcast will also be archived on the Events and Presentations page of Numinus’ Investor Relations website: https://www.investors.numinus.com/events-and-presentations
About Numinus
Numinus Wellness (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Learn more at www.numinus.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.
Forward-looking statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "expects", "does not expect", "is expected", "believes", "intends", "anticipates", "does not anticipate", "believes" or variations of these words, expressions or statements, that certain actions, events or results "may", "could", "would", "might" or "will be" taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.
SOURCE Numinus Wellness Inc.
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