A psychedelic stock to explore amid ‘shroom boom’?


Stocks of Numinus Wellness Inc (TSX: NUMI) have been noting an uptick as the psychedelic-centered healthcare company nears the release of its Q1 FY2022 results this month.

NUMI stock gained by over 13 per cent on Wednesday, January 12, recording a trading volume of 1.5 million.

Numinus recently rescheduled the release date for its first quarter results of FY2022 from January 13 to January 20 due to staffing challenges posed by the coronavirus pandemic.

The Vancouver, British Columbia-headquartered healthcare firm is engaged in the research and development of therapeutic solutions based on psychedelic medications. The healthcare provider operates wellness clinics and laboratories to produce mental healthcare products and provide related healthcare services.

Let us have a closeer look at the financial and stock performances of Numinus Wellness.

Numinus Wellness Inc (TSX: NUMI) stock performance

Stocks of Numinus Wellness fell by roughly 36 per cent in the past year. However, the psychedelic stock has rocketed by over 43 per cent in 2022.

NUMI stock also surged by over 38 per cent in the last one week.

On Tuesday, the mental healthcare firm saw its stock close at C$ 0.76 apiece.

Numinus Wellness Inc (TSX: NUMI) stock performance

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Numinus Wellness Inc’s financial performance in Q4 FY2021

Numinus Wellness saw a revenue of C$ 0.5 million in the fourth quarter of fiscal 2021. The topline generated in the latest quarter denoted a year-over-year (YoY) increment of 81.1 per cent, which it said was mainly due to the acquisition of Montreal-based psychology clinic Mindspace Wellbeing.

The Canadian healthcare company recorded a gross profit of C$ 0.031 million in the latest quarter, which was up from a gross loss of C$ 0.158 million incurred a year ago.

Numinus Wellness also reported a loss of C$ 7.8 million in Q4 FY2021, which included a non-cash goodwill impairment charge of C$ 1.6 million due to the acquisition of Mindspace Wellbeing.

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During Q4 FY2021, the Health Canada-approved psychedelic-focused wellness company also started expanding its psychedelic research facility, including an additional laboratory. 

On December 22 last year, Health Canada revised its Special Access Programme, wherein physicians were allowed to request psychedelic medicines. This amendment can be see Numinus Wellness accelerate its business footprints further.

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