- Numinus Wellness (TSX:NUMI), a microcap stock focused on psychedelics-based healthcare, has received Health Canada approval for a clinical trial examining group models in MDMA-assisted psychotherapy
- The trial is the first of its kind in the psychedelic healthcare space
- Numinus Wellness develops and delivers mental healthcare solutions, including evidence-based psychedelic-assisted therapies
- Numinus stock has given back 74 per cent year-over-year, and more than 92 per cent since inception in 2020
Numinus Wellness (TSX:NUMI), a microcap stock focused on psychedelics-based healthcare, has received Health Canada approval for a clinical trial examining group models in MDMA-assisted psychotherapy.
The trial is the first of its kind in the psychedelic healthcare space, aiming to generate data on “the ideal number of therapists needed to administer MDMA-assisted psychotherapy group sessions effectively,” according to Thursday’s news release.
To maximize the trial’s educational potential, it will enroll trainees as participants, allowing them to experience MDMA in a therapeutic setting and develop their skills by undergoing psychotherapy sessions guided by Numinus’ seasoned therapists.
Considering that MDMA-assisted therapy has been shown to alleviate PTSD symptoms, and PTSD affects about 5 per cent of the U.S. population, the trial opens Numinus up to a multi-billion-dollar market, not counting other severe mental disorders MDMA may help to treat as new research comes to light.
The news follows Numinus’ recent honing of its focus to expedite its path to profitability, including a membership program, expanding its practitioner training program, and allocating more resources to high-growth U.S. clinics and research facilities.
Leadership insights
“We are pleased to have received approval for this study, which will be the first of its kind to investigate the viability of a group therapy model, establish the best methods for MDMA group therapy, and add to the existing research supporting its safe use,” Payton Nyquvest, Numinus’ founder and chief executive officer, said in a statement. “Considering the growing body of research into the potential benefits of MDMA for treating severe mental disorders, such as PTSD, it’s essential that medical professionals enhance their understanding of how best to administer it in a clinical environment.”
“This study could greatly improve therapist understanding of the effects of MDMA, therapist skills, and patient outcomes by offering practitioners a chance to gain crucial insights into different modalities of treatment,” added Rick Doblin, Ph.D., an unpaid volunteer Numinus strategic advisor. “This will become important should MDMA treatment for PTSD receive FDA approval with a significant number of patients in need of care.”
About Numinus Wellness
Numinus develops and delivers mental healthcare solutions, including evidence-based psychedelic-assisted therapies, aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use.
Numinus Wellness Inc. stock (TSX:NUMI) last traded at C$0.065 per share. The stock has given back 74 per cent year-over-year, and more than 92 per cent since inception in 2020.
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(Top image: Numinus Wellness)