The following information should be read in conjunction with the financial statements and management's discussion and analysis, which are available under Novamind's SEDAR profile at Total liabilities The following table presents selected financial information from Novamind's reviewed condensed interim financial statements for the three and six months ended December 31, 2021. Subsequent to quarter-end, closed a $5,000,000 private placement with an institutional investor on January 26, 2022.Total working capital of $3,141,437 to fund operations.Total revenue of $2,452,540, +32% over the previous quarter.A phase II clinical trial investigating an antidepressant medication for adults with major depressive disorder and post-traumatic stress disorder, sponsored by Alto Neuroscience.A phase II clinical trial investigating ketamine-assisted psychotherapy for adults with life-threatening illness, sponsored by the Ketamine Research Foundation.A phase I clinical trial examining ketamine-assisted therapy combined with Mindfulness-Oriented Recovery Enhancement therapy to treat opioid use disorder, led by investigator Eric Garland, PhD at the University of Utah.Contracted to provide clinical research services for the following clinical trials:.Appointed Prakash Gowd, MBA, BSc Pharm, C Dir as Chief Operating Officer.Enrolled final cohorts and advanced to final stages of the Frontline KAP clinical pilot, a candidate for commercialization at Novamind's clinics.In January 2022, closed the acquisition of Arizona-based Foundations for Change, a mental health practice specialized in ketamine-assisted psychotherapy with two clinic locations in the Phoenix area.Opened a new outpatient clinic located in downtown Salt Lake City, specialized in integrative behavioural health and services for adults with substance use disorders.Unveiled a new clinic design concept to accommodate the unique requirements of psychedelic-assisted psychotherapy.Announced a strategic investment and advisory agreement with Bienstar Wellness to develop Latin America's first network of integrative mental health clinics. Novamind is focused on providing clinical research services to leading drug developers, meeting patient demand by delivering innovative, evidence-based mental healthcare and bringing to market new treatment programs such as Psychedelic Palliative Care by Novamind and Frontline KAP."įiscal Q2 2022 Operating Highlights and Subsequent Events Novamind CEO, Yaron Conforti, commented, "We're pleased to report record high revenue this quarter driven by continued revenue growth from existing and new clinics. All results are reported under International Financial Reporting Standards ("IFRS") and in Canadian dollars, unless otherwise specified. TORONTO, ON / ACCESSWIRE / Ma/ Novamind Inc.(CNSX:NM)(OTCQB:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, reported its financial results for the three and six months ended Decem("Fiscal Q2 2022"). In January 2022, successfully closed the acquisition of an Arizona-based mental health practice, adding two additional clinics, and closed a $5,000,000 institutional private placement.Strong pipeline of clinical trials for psychedelics and mental health treatments.Opened new outpatient clinic located in downtown Salt Lake City.Record high revenue of $2,452,540, +32% over the previous quarter.
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