Numinus Wellness (TSXV: NUMI) has become the first publicly issued firm to legally complete a harvest of psilocybe mushrooms. The company announced this morning that it has completed its first harvest of the psychedelic mushrooms from its 7,000 square foot facility.
With the process of cultivation completed, the company has now prepared the harvest for freeze drying, which is said to be the first step to discovery and development of standardized testing. With Numinus focused on handling and development of analytical methods and formulations for the psychedelics space, the next step is said to be the research and development of these methods.
Numinus is said to be focused on natural forms of psilocybin, rather than synthetically produced variants. The company comments on the affordability of natural versions versus that of synthetic, and how price considerations are significant when it comes to ensuring accessibility of the medicine.
Naturally, however, given the focus on analytical testing for psychedelic substances, this mantra of a focus on natural production methods better suits the firms business plan. Outside of the harvest, Numinus also announced today that it has submitted an amended application for its Health Canada issued Controlled Drugs and Substances License.
Under the amended application, the company is looking to be approved for the sale of Psilocybe mushroom fruiting bodies and extract for clinical research protocols, as well as for standardized testing for additional psychedelics. Currently, the firms license allows for the testing, import, export, storage and distribution of MDMA, psilocybni, psilocin, DMT, and mescaline as well as for certain research initiatives.
Numinus Wellness last traded at $0.40 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.