Numinus Wellness (TSXV: NUMI) this morning announced that it has completed the extraction of psilocybe mushrooms, the first public company to do so in Canada, which follows their successful harvest earlier this year. The extracted product is to be used for the purposes of research and development.
The extraction solution is expected to be used in clinical trials as well as under the Special Access Programme, once amendments have been submitted to Health Canada requesting the required approvals to do so. The company is currently working towards standardizing psilocybin and multiple therapeutically important components to increase the efficacy of the extract.
The company then took a shot at firms looking to produce synthetic versions of psilocybin, a key risk to the firms extraction model, by stating, “While direct comparisons cannot be made, there is a clear recognition in the cannabis space that synthetic cannabinoids are far less attractive than naturally occurring cannabinoids. Numinus is of the view that, ultimately, nature knows best.”
Further details on the results of the process, such as quantities extracted of the compound, were not provided.
Numinus Wellness last traded at $1.79 on the TSX Venture.
Information for this briefing was found via Sedar and Numinus Wellness. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
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