11/4/2023 0 Comments Novamind not letting me log inPost-consolidation, Cedar Clinical Research becomes Numinus’ research arm based in Utah, hosting phase I and phase IV clinical trial and research focused on emerging treatment options in neuropsychiatry on behalf of third-party sponsors. Through CCR, Numinus is forging trusted working relationships with many leading third-party drug developers, who may someday need clinical facilities to provide their patient protocols. We also see exceptional opportunity from our new Cedar Clinical Research division – which was acquired with Novamind. CCR revenue streams are generated through the management of third-party clinical trials that use its two clinical research sites. Encouragingly, 12.5% of these appointments were made by new clients-always a good sign when new client growth outpaces existing client growth.Ĭedar Clinical Research Adds To The Top LineĪdding to the revenue pie this past quarter were proceeds derived for Numinus’ newly-inherited research division, Cedar Clinical Research (CCR), which in the fourth quarter totaled $0.5 million. In the fourth quarter, Numinus reported more than 17,000 client appointments, representing a 202% increase in clinic appointments compared to more than 5,600 appointments in Q3 2022. Sequentially, gross margin grew 710 basis points from 24.4% registered in Q3 2022, partially due to the offering of higher-margin services. Gross margin expansion was another bright spot on the report, growing to 31.5% from 6.5% on a year-over-year basis. Meanwhile, Numinus produced $741,064 in its final pre-consolidation quarter ending May 31, 2022, primarily due to the acquisitions of Mindspace and the Neurology Centre of Toronto wellness clinics. To put the numbers in context, Novamind produced quarterly revenue of $3.22 million in fiscal Q3 2022, its last reporting quarter. In all, Numinus’ fourth quarter clinic network revenue was $3.7 million, representing a 404% sequential increase from $0.7 million in Q3 2022, and an 821% increase from $400,306 during the same period last year. Of course, Novamind was the main contributor of this amount, as Numinus inherited a sizable North American outpatient clinical platform with operations spanning 13 wellness clinics-two of which were consolidated in the Salt Lake City area to reduce leasehold expenses. While it’s difficult to make sequential quarterly comparisons due to the acquisition and lag between Novamind’s last reporting quarter ended Maand current results, Numinus’ consolidated clinic network growth does provide some pleasant optics.įor the year, Numinus grew revenues 329% to $6.5 million from $1.5 million in fiscal 2021. Sign-in using another network (wired connection, wifi, or cellular network.In its first full reporting quarter (minus the first 10 days on June) following the finalization of its Novamind acquisition on June 10, 2022, Numinus Wellness Inc. (TSE: NUMI ) (OTCMKTS: NUMIF) released fourth quarter and year end financial results. ![]() Sign-in using another device (laptop/tablet/mobile).Use a different browser/computer to see if the issue still persists.Try to login with your chosen authentication method.In the event that you still cannot log-in please follow the following instructions: If you are not sure which method you originally used for signing up, please log-in with each of the following methods from an incognito window.Attempting to login using a different authentication method than what you originally used to sign-up for an account will send a "Wrong Authentication Method" notification.If you see "Wrong Authentication Method" or “There is already a user with email.” If you signed up for an account using Google or another social platform, you must log-in using the same method. If your account was created via an email address and password, you will log-in by manually typing into the email and password fields. ![]()
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