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Psychedelics-focused mental health care company Numinus Wellness Inc. (TSX:NUMI) (OTCQX:NUMIF), announced its third quarter financial results on Thursday for the three months ended May 31, 2024.
"In the third quarter of 2024, we continued to make progress on our program to transition Numinus to an operationally lean company prepared to benefit from the anticipated growth in psychedelic therapy. Key to the program is achieving profitability with our existing operations and leveraging our significant experience and expertise to opportunities in the broad market,” Payton Nyquvest, Numinus founder and CEO said.
Read Also: Psychedelics-Focused Numinus Plans To Leverage This AI Technology Via New Strategic Acquisition
On June 20, 2024, the company announced that it had executed a letter of intent to acquire MedBright AI Investments (CSE:MBAI) by way of a statutory plan of arrangement.
The strategic combination of MedBright’s AI machine-learning platform with Numinus’ significant expertise in traditional therapy, clinic management, patient care, insurance reimbursement and psychedelic-assisted treatment is expected to enhance revenue generation through a unique AI-enabled offering available to the growing number of U.S. mental health providers.
“Our proposed acquisition of MedBright AI further amplifies our opportunities by leveraging our experience and expertise in clinical care and insurance reimbursement into a licensed offering available to mental health clinics, therapists and practitioners across the U.S.,” Nyquvest said.
Numinus' shares traded 3.12% higher at $0.033 per share at the time of writing on Friday,
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