Announcement • Jun 04
Restart Life Sciences Corp. Announces Chief Financial Officer Changes, Effective 04 June 2026 Restart Life Sciences Corp. announced the appointment of Inez Ho as Chief Financial Officer (CFO) of the Company, effective 04 June 2026. Ms. Ho brings over 12 years of robust finance and accounting experience to Restart Life, with a strong track record of supporting publicly listed companies across diverse industries. Her deep areas of expertise include corporate compliance, financial reporting, financial management, and advising on complex capital markets transactions, including initial public offerings (IPOs) and reverse takeovers (RTOs). She currently serves as Senior Manager at Zeus Accounting Solutions Corp., where she also acts as Controller and Chief Financial Officer for several public and private companies. Prior to her tenure at Zeus Accounting Solutions, Ms. Ho held pivotal finance leadership roles in both public and private organizations, including serving as Finance Manager at Zepp Health. Ms. Ho is a Chartered Professional Accountant (CPA, CGA) and holds a Bachelor of Science degree from the University of British Columbia, where she majored in Mathematics with a minor in Economics. The Company further announced that Ms. Ho succeeds Rebecca Hudson, who has resigned from her role to focus on other commitments. Announcement • May 22
Restart Life Sciences Corp. announced that it has received CAD 0.1 million in funding On May 21, 2026, Restart Life Sciences Corp. closed the transaction. No finders' fees were paid in connection with the closing of this offering. All securities issued pursuant to the offering are subject to a statutory four-month-and-one-day hold period expiring September 21, 2026, under applicable Canadian securities laws. The company has issued total of 833,334 units at a price of 12 cents per unit for aggregate gross proceeds of CAD 100,000.08. Steve Loutskou has subscribed for 50% of the offering (416,666 units). Announcement • May 10
Restart Life Sciences Corp. announced that it expects to receive CAD 0.1 million in funding Restart Life Sciences Corp. announces a non brokered private placement to issue 833,333 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 99,999.96 on May 8, 2026. Each unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of two years at a price of CAD 0.15 per common share. Finders' fees may be payable in accordance with the policies of the Canadian Securities Exchange (the CSE). All securities issued pursuant to the offering will be subject to a statutory hold period of four months and one day from the date of issuance. Recent Insider Transactions • Mar 25
Independent Director recently bought CA$59k worth of stock On the 17th of March, Khavita Harrycharran bought around 650k shares on-market at roughly CA$0.09 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$75k more in shares than they have sold in the last 12 months. New Risk • Feb 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$148k). Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.68m market cap, or US$4.18m). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Significant insider selling over the past 3 months (CA$200k sold). Announcement • Dec 24
Restart Life Sciences Corp. (CNSX:HEAL) signed a binding letter of intent to acquire Holy Crap Foods Inc. from Happy Belly Food Group Inc. (CNSX:HBFG) for CAD 1 million. Restart Life Sciences Corp. (CNSX:HEAL) signed a binding letter of intent to acquire Holy Crap Foods Inc. from Happy Belly Food Group Inc. (CNSX:HBFG) for CAD 1 million on December 21, 2025. Purchase price is subject to working capital adjustments. Restart will pay Happy Belly Food Group Inc. a cash deposit of CAD 0.1 million being equal to 10% of the purchase price.
For the period ending December 31, 2024, Holy Crap Foods Inc. reported annual sales of CAD 1 million.
The transaction is subject to approval by the Canadian Securities Exchange and is expected to close in early 2026. Recent Insider Transactions • Dec 14
Independent Director recently bought CA$200k worth of stock On the 10th of December, Khavita Harrycharran bought around 2m shares on-market at roughly CA$0.11 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$5.3k more in shares than they have sold in the last 12 months. New Risk • Nov 29
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$148k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$148k). Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.42m market cap, or US$2.45m). Minor Risk Significant insider selling over the past 3 months (CA$200k sold). Announcement • Nov 13
Restart Life Sciences Corp. announced that it expects to receive CAD 1 million in funding Restart Life Sciences Corp. announced non-brokered private placement of up 10,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 1,000,000 on November 12, 2025. Each Unit purchased will include one common share and one transferable common share purchase warrant . Each Warrant will entitle the holder to purchase one additional common share for a period of one year at a price of CAD 0.10 per common share. Finders' fees may be payable in accordance with the policies of the Canadian Securities Exchange. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of issuance. Announcement • Jul 09
Restart Life Sciences Corp. announced that it expects to receive CAD 1 million in funding Restart Life Sciences Corp. announces a non-brokered private placement to issue 10,000,000 common shares at a price of CAD 0.10 for gross proceeds of CAD 1,000,000 on July 8, 2025. The Offering is expected to close on or before August 21, 2025.The Company may pay a finders fees in cash equal to 8.0% of the aggregate gross proceeds of the Offering. Announcement • Jun 14
Restart Life Introduces Brain Qa -A Wholly Owned Brand Restart Life Sciences Corp. to introduce Brain Qa, a wholly owned brand developed by the Company. The first product under the Brain Qa brand will be the Brain Qa Healthy Cereal, which follows the product line established by the highly anticipated Brain Ballsa in cereal form. Brain Qa Healthy Cereal will be produced in collaboration with the Company's established co-packing partner in British Columbia. The Company will initiate its first production run when it strategically aligns with broader organizational objectives and the rollout of complementary in-house brands that support Restart Life's long-term vision. While product formulations, packaging, and regulatory elements are in advanced stages of preparation, finalization and submission for production will occur in due course. This product is positioned to strengthen the Company's growing portfolio of wellness-focused offerings and rein force its commitment to delivering innovative, high-im pact solutions in line with its strategic roadmap. The initial launch of Brain Qa Healthy Cereal will feature three distinct flavor variations with plans for future expansion to include additional flavors and product variations. The cereal will be available in sachets and travel-sized on-the-go packs, designed for maximum convenience, as well as wholesale options to accommodate a variety of consumer needs. In addition to the Brain Qa Healthy Cereal, the Company is actively working on developing a range of other products under the Brain Qa brand, aimed at further enhancing cognitive health, mental clarity, and overall well-being. These products will expand the BrainQa product line to address the evolving needs ofhealth-conscious consum ers and support Restart Life's broader m ission to deliver innovative wellness solutions. As part of this effort, Steve Loutskou, CEO of Restart Life Sciences, recently completed a tour ofthe co-packer's production facility. The visit focused on finalizing key arrangements for the production line, packaging, shipping, ingredient storage, and scaling production. This hands-on engagement underscores the Company's commitment to ensuring high-quality production and efficient logistics as it works to bring Brain Qa to market. The development of Brain Qa aligns with Restart Life's broader strategy to offer clean-label, and functionally beneficial products for health-conscious consumers. The Company remains committed to expanding its product offerings and driving sustained growth within the health and wellness sector. Restart Life expresses its appreciation for the ongoing support ofits shareholders and looks forward to the introduction of Brain Qa in the near future. New Risk • Mar 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 114% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (40% average weekly change). Negative equity (-CA$586k). Shareholders have been substantially diluted in the past year (114% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.17m market cap, or US$2.19m). Minor Risk Large one-off items impacting financial results. Announcement • Jan 17
Restart Life Sciences Corp. announced that it expects to receive CAD 0.5 million in funding Restart Life Sciences Corp announced a private placement of 4,347,826 units at a price CAD 0.115 per unit for gross proceeds CAD 499,999.99 on January 15, 2025. Each unit consists of one common share and one transferable common warrant. The warrant will be exercisable to one share at exercise price CAD 0.15 per share for period of 12 months from the date of issuance. all securities are subjected to hold period of 4 months from date of issuance. New Risk • Dec 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (58% average weekly change). Negative equity (-CA$586k). Revenue is less than US$1m. Market cap is less than US$10m (CA$720.5k market cap, or US$509.2k). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Dec 03
Restart Life Sciences Corp., Annual General Meeting, Feb 07, 2025 Restart Life Sciences Corp., Annual General Meeting, Feb 07, 2025. Location: vancouver Canada Announcement • Oct 24
Nova Mentis Life Science Corp Announces Chief Executive Officer Changes Nova Mentis Life Science Corp. announced the appointment of Steve Loutskou, Director of the Company, as Chief Executive Officer, effective October 22, 2024. This strategic initiative aimed at enhancing the company and positioning for future growth. With over 20 years of experience as a seasoned serial entrepreneur, Mr. Loutskou has built a remarkable career filled with numerous success stories. He excels in guiding early-stage startups through to mature commercialization, showcasing exceptional skills in navigating the complexities of financing. His extensive background in business management, operations, and financing spans various industry sectors. Mr. Loutskou originally co-founded Plant & Co formerly Cannvas Medtech, which has since evolved into Happy Belly Food Group. Happy Belly is a prominent consolidator of emerging food brands, with over 400 restaurants in the pipeline. As a trailblazer in innovative ventures, Mr. Loutskou's strategic vision and financial expertise have propelled startups to success while attracting investment. His ongoing influence is crucial in shaping the future of business through insightful strategies and proficient management. William Rascan has resigned from his roles as CEO of the Company. Mr. Rascan has been an integral part of the Company for over 12 years, playing a key role in its growth and milestones. Under his leadership, the Company underwent a significant transformation, transitioning from Weststar to Liberty Leaf Holdings, during which time the Company achieved a market capitalization exceeding $100 million. Additionally, Mr. Rascan guided the Company's evolution into Nova Mentis, becoming the first biotech firm to secure orphan drug designation for the use of psilocybin in treating Fragile X Syndrome (FXS) in both the United States and the European0 Union. The Company expresses its sincere gratitude to Mr. Rascan for his many years of dedicated service and wishes him continued success in his future endeavors. Announcement • Oct 23
Nova Mentis Life Science Corp. Announces Executive Changes Nova Mentis Life Science Corp. announced the appointment of Steve Loutskou, Director of the Company, as President, effective October 22, 2024. This strategic initiative aimed at enhancing the company and positioning for future growth. With over 20 years of experience as a seasoned serial entrepreneur, Mr. Loutskou has built a remarkable career filled with numerous success stories. He excels in guiding early-stage startups through to mature commercialization, showcasing exceptional skills in navigating the complexities of financing. His extensive background in business management, operations, and financing spans various industry sectors. Mr. Loutskou originally co-founded Plant & Co formerly Cannvas Medtech, which has since evolved into Happy Belly Food Group. Happy Belly is a prominent consolidator of emerging food brands, with over 400 restaurants in the pipeline. As a trailblazer in innovative ventures, Mr. Loutskou's strategic vision and financial expertise have propelled startups to success while attracting investment. His ongoing influence is crucial in shaping the future of business through insightful strategies and proficient management. William Rascan has resigned from his roles as President and Director of the Company. Mr. Rascan has been an integral part of the Company for over 12 years, playing a key role in its growth and milestones. Under his leadership, the Company underwent a significant transformation, transitioning from Weststar to Liberty Leaf Holdings, during which time the Company achieved a market capitalization exceeding $100 million. Additionally, Mr. Rascan guided the Company's evolution into Nova Mentis, becoming the first biotech firm to secure orphan drug designation for the use of psilocybin in treating Fragile X Syndrome (FXS) in both the United States and the European0 Union. The Company expresses its sincere gratitude to Mr. Rascan for his many years of dedicated service and wishes him continued success in his future endeavors. Announcement • Sep 25
Nova Mentis Life Science Corp., Annual General Meeting, Dec 03, 2024 Nova Mentis Life Science Corp., Annual General Meeting, Dec 03, 2024. Location: vancouver Canada Announcement • Dec 12
Nova Mentis Life Science Corp. Announces Resignation of Dr. Stephen Glazer as Chief Scientific Officer and Director Nova Mentis Life Science Corp. announces the resignation of Dr. Stephen Glazer as Chief Scientific Officer and a Director of the Company, effective December 6, 2023. In consideration of the resignation received from Dr. Glazer, he will not stand for re-election at the Company's upcoming annual general meeting of shareholders on December 28, 2023. The Board would like to thank Dr. Glazer for his involvement with Nova and wishes him the best in future endeavors. Announcement • Oct 28
Nova Mentis Life Science Corp., Annual General Meeting, Dec 29, 2023 Nova Mentis Life Science Corp., Annual General Meeting, Dec 29, 2023. Announcement • Feb 16
Nova Mentis Granted Health Canada Section 56 Exemption to Begin Psilocybin Clinical Trial Nova Mentis Life Science Corp. announced it has received an exemption under Section 56 of the Controlled Drugs and Substances Act allowing the Company to proceed with the first- ever Phase IIA clinical trial assessing repetitive, oral microdose psilocybin therapy for fragile X syndrome (FXS), the leading genetic cause of autism spectrum disorder (ASD). A Section 56 exemption enables an approved medical professional to prescribe select controlledsubstances without legal consequence, in order to better treat people with otherwise treatment-resistant conditions. KGK Science and NOVA have partnered to conduct a pioneering first clinical trial to investigate the effects of microdose psilocybin on the cognitive and behavioural symptoms associated with FXS. The results of the 10-person, open-label study will be used to support NOVA's drug development program under FDA Orphan Drug designation, which was received in late 2021. The trial will be led by KGK Science and recruiting efforts are expected to begin in late First Quarter 2023. The clinical trial received a No Objection Letter from Health Canada in December of 2022 and is one of the first approved studies that will permit participants to take home the drug for dosing every other day. Nova Mentis has completed production of pharmaceutical grade cGMP synthetic psilocybin 1.5 mg microdose capsules that will be used to advance the necessary research and development steps needed for successful drug regulatory approval and future commercialization. Announcement • Jan 19
Nova Mentis Life Science Corp. Announces Board Changes Nova Mentis Life Science Corp. announced the appointment of Derek Ivany to the position of Executive Chairman. In this new role, Mr. Ivany's mandate will include specific focus on corporate development outreach, mergers and acquisitions, capital markets support and other strategic value enhancement initiatives. Mr. Ivany has been a long-term shareholder and supporter of NOVA by virtue of his previous position as founder, President and Director of Pilz Bioscience Corp., a company that he started with NOVA's Dr. Marvin S. Hausman that was subsequently acquired by NOVA in November 2020. His initial interest in autism spectrum disorder (ASD) research was sparked by a personal connection to the disorder. Derek's brother, who was diagnosed with ASD at a young age, registers at the upper end of the ASD scale and is largely non-verbal. Derek has witnessed first-hand the devastating effects that severe autism can have on a family and is passionate about doing his part to advance research in this area. Mr. Ivany has a rich history of successfully working with publicly traded companies and helping generate significant shareholder value in a variety of diverse industry segments. Having worked with many international groups, Mr. Ivany has established a network of high-profile contacts across such sectors as medicinal products, health and wellness, mining, oil and gas, coffee, technology, horse racing and real estate. In order to accommodate the new director appointment, Steve Feldman has resigned from the NOVA's Board of Directors. Announcement • Dec 24
Nova Mentis Receives Health Canada Approval for First-Of-its-Kind Psilocybin Clinical Trial Nova Mentis Life Science Corp. announced that the company has received a No Objection Letter from Health Canada, allowing NOVA to proceed with the first-ever Phase II A clinical trial assessing repetitive, oral microdose psilocybin therapy for fragile X syndrome (FXS), the leading genetic cause of autism spectrum disorder (ASD). The results of the 10-person, open-label study will be used to support NOVA's drug development program under FDA Orphan Drug designation, which was received in late 2021. The trial will be led by KGK Science, NOVA's clinical research organization (CRO) partner, and recruiting efforts are expected to begin first quarter 2023. In September, NOVA completed production of pharmaceutical grade, cGMP synthetic psilocybin 1.5 mg microdose capsules that will be used in the study as the Company advances the necessary research and development steps required for successful drug regulatory approval and future commercialization. NOVA's preclinical research results, which were recently published in an international science journal, showed that a low microdose formulation of the Company's psilocybin drug significantly modulated behavioural and cognitive defects in a genetic model of FXS. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 1 experienced director. 2 highly experienced directors. 1 independent director (3 non-independent directors). President, CEO & Director Will Rascan is the most experienced director on the board, commencing their role in 2012. Independent Director Steven Feldman was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 26
Nova Mentis Life Science Corp., Annual General Meeting, Dec 15, 2022 Nova Mentis Life Science Corp., Annual General Meeting, Dec 15, 2022. Announcement • Sep 30
Nova Mentis Life Science Corp. Produces 1.5 mg Psilocybin Microdose Capsules Nova Mentis Life Science Corp. announce that the company has produced 1.5 mg psilocybin microdose capsules. These capsules were produced according to defined manufacturing processes and product specifications as outlined in chemistry, manufacturing and controls (CMC) published guidelines. NOVA has in hand a complete CMC package to be used in support of a phase 2A microdose psilocybin fragile X syndrome (FXS) clinical trial application. The package to be submitted to Health Canada for review includes: Phase 2 manufacturing process file for psilocybin active pharmaceutical ingredient (API). Finished product batch manufacturing records that confirms final capsule batch has beenproduced. Psilocybin capsule dissolution parameters that meet regulatory requirements. NOVA and KGK, its clinical research organization (CRO) partner, are currently finalizing the clinical trial application that will be submitted to Health Canada for approval of a Phase 2A study evaluating psilocybin microdose therapy for FXS, the leading genetic cause of ASD. Announcement • Sep 16
Nova Mentis Life Science Corp. Completes Production of Psilocybin Microdose Capsules Nova Mentis Life Science Corp. announced that it has completed production of psilocybin microdose capsules in collaboration with the Toronto Institute of Pharmaceutical Technology (TIPT®). TIPT and NOVA have recently completed the manufacturing of an engineering quantity of the psilocybin microdose capsules that was used to confirm product specifications for the capsule. Production of the first stability lot followed and capsules are currently undergoing release testing this week to generate data required for a clinical trial application. NOVA is currently preparing to submit a clinical trial application to Health Canada for a Phase 2A study evaluating psilocybin microdose therapy for fragile X syndrome (FXS), the leading genetic cause of autism spectrum disorder (ASD). NOVA's recent research results showed that a very low microdose formulation of the Company's psilocybin drug (NM-1001) significantly modulated behavioural and cognitive defects in a genetic model of FXS. NOVA is the first biotech company to achieve orphan drug designation in both the United States and European Union for the use of psilocybin in the treatment of FXS. Furthermore, NOVA has manufactured a large supply of >98% pure psilocybin for clinical studies and commercialization following drug approval. Announcement • Jun 10
Nova Mentis Life Science Corp. Receives Controlled Substances Export Approval From The U.S. DEA for the Proprietary Psilocybin Drug NM 1001 Nova Mentis Life Science Corp. announced that it received the required controlled substances export approval from the U.S. Drug Enforcement Administration. The company's proprietary psilocybin drug (NM-1001), has been received at the Toronto Institute of Pharmaceutical Technology (TIPT®) labs in Toronto, Canada to be used to formulate and manufacture psilocybin microdose capsules for a planned Phase 2A fragile X syndrome clinical study. Earlier this year, NOVA announced that a very low microdose formulation of the Company's proprietary psilocybin drug (NM-1001) significantly modulated behavioural and cognitive defects, such as recognition memory, in a genetic model of FXS. Announcement • May 14
Nova Mentis Life Science Corp. Appoints John Molinaro to its Scientific Advisory Board Nova Mentis Life Science Corp. welcomed John Molinaro, a Board Certified Behaviour Analyst specializing in autism spectrum disorder therapy, to its Scientific Advisory Board. Announcement • May 05
Nova Mentis Life Science Corp Receives Approved Health Canada Importation Permit Nova Mentis Life Science Corp. announced the company continues to advance its psilocybin-based drug development program following the receipt of a Health Canada approved psilocybin import permit. The approval allows NOVA to ship its proprietary psilocybin drug from its manufacturing partner to the labs at Toronto Institute of Pharmaceutical Technology (TIPT®) to be used to formulate and manufacture psilocybin microdose capsules for its' planned clinical study. Earlier this month, NOVA signed a contract with TIPT, who holds a valid Controlled Drugs and Substances Dealer's Licence from Health Canada, which allowed the organization to apply for an import permit. NOVA will be submitting a clinical trial application in the coming weeks to Health Canada for a Phase 2A clinical study evaluating psilocybin microdose therapy for FXS. Reported Earnings • May 04
Full year 2021 earnings released: CA$0.024 loss per share (vs CA$0.45 loss in FY 2020) Full year 2021 results: CA$0.024 loss per share (up from CA$0.45 loss in FY 2020). Net loss: CA$2.68m (loss narrowed 89% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. No experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). President, CEO & Director Will Rascan is the most experienced director on the board, commencing their role in 2012. Independent Director Steven Feldman was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
Nova Mentis to Produce Psilocybin Capsules for Phase 2A Clinical Study Nova Mentis Life Science Corp. announced that it has consummated a contract with the Toronto Institute of Pharmaceutical Technology (TIPT®) to formulate and manufacture psilocybin microdose capsules for its upcoming Canadian Phase 2A fragile X syndrome ("FXS") clinical study. NOVA plans to submit a clinical trial application to Health Canada in the coming weeks for a Phase 2A study evaluating psilocybin microdose therapy for FXS. NOVA is the first biotech company to achieve orphan drug designation in both the United States and European Union for the use of psilocybin in the treatment of FXS. Furthermore, NOVA has manufactured a large supply of >98% pure psilocybin for clinical studies and commercialization following drug approval. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: CA$0.013 loss per share (down from CA$0.009 loss in 3Q 2020). Net loss: CA$1.40m (loss widened 153% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 45% per year whereas the company’s share price has fallen by 43% per year. Announcement • Sep 15
Nova Mentis Life Science Corp. Applies to US FDA for Psilocybin Orphan Drug Designation Fragile X Syndrome Treatment Nova Mentis Life Science Corp. announced it has filed an application with the U.S. Food and Drug Administration (FDA) to receive orphan drug designation for its proprietary psilocybin drug to treat patients with fragile X syndrome (FXS), the most common inherited cause of autism spectrum disorder (ASD). The U.S. Orphan Drug Act (ODA) grants special status to a drug for the treatment, diagnosis or prevention of a rare disease or condition. In the United States, a rare disease is defined as a condition that affects fewer than 200,000 people. Developmental delays affect ~13% of all American children ages 3-10 and FXS is the most common inherited cause of intellectual disability. The Centers for Disease Control and Prevention estimates FXS prevalence as 1 in 4,000 for males and 1 in 8,000 for females. Reported Earnings • Sep 01
First half 2021 earnings released: CA$0.009 loss per share (vs CA$0.20 loss in 1H 2020) First half 2021 results: Net loss: CA$1.04m (loss narrowed 84% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year whereas the company’s share price has fallen by 52% per year. Announcement • Jun 24
Nova Mentis Life Science Corp. Receives Canadian Approval for its North American Autism Clinical Study Nova Mentis Life Science Corp. (‘NOVA’ or the ‘Company’) announced that it has received Canadian approval for its North American autism clinical study. The Company has obtained Institutional Review Board (IRB) approval in Canada of its protocol for the Observational Study, NM101: Establishing a Diagnostic and Therapeutic Index in Autism Spectrum Disorder (ASD) and Fragile X Syndrome (FXS) (NCT04869930). The study received IRB approval in the United States earlier this year. IRBs are ethics committees designed to help regulatory agencies ensure that companies employ rigorous protocol standards and adhere to strict regulations surrounding the ethical treatment of human subjects. The study's data collection and storage protocols are also compliant under the Health Insurance Portability and Accountability Act (HIPAA), which sets the standard for protection of sensitive patient data. NOVA aims to recruit at least 300 participants across the U.S and Canada for its large-scale observational study to assess the gut microbiome, immune response, and serotonin activity, as all these systems are likely involved in producing the variety of gut and behavioural symptoms observed in ASD and FXS. The Company will recruit 200+ participants with diagnosed ASD or FXS and 100+ neurotypical controls, including pre-symptomatic/undiagnosed children under age five. Participants will be asked to provide samples of cheek cells, urine, finger/toe-prick blood, and feces, which will be used to quantify serotonin levels and related cell signaling pathways, as well as evaluate commensal bacterial species and their function in the gut. Samples will be compared with those from age-matched neurotypical controls. Announcement • May 07
Nova Mentis Life Science Corp. Launches Autism Clinical Study Nova Mentis Life Science Corp. announced that its North American autism clinical study has been listed on ClinicalTrials.gov, a database of privately and publicly funded clinical studies conducted around the world. The US-based Observational Study, NM101: Establishing a Diagnostic and Therapeutic Index in Autism Spectrum Disorder (ASD) and Fragile X Syndrome (FXS) is a large-scale effort to examine the dynamic roles of microbiota, serotonin signaling and the immune system in gut and brain development of ASD and FXS, particularly as these forces work together to manifest classic behavioral symptoms. AI-driven computational analysis of collected datasets will be used to establish a "Diagnostic and Therapeutic Index (ASD-DTI)" – an objective set of tools that can help differentiate subtypes of ASD and develop more accurate methods of diagnosis and response to drug treatment. NOVA aims to recruit at least 300 participants across the U.S and Canada: 200+ with diagnosed ASD or FXS and 100+ neurotypical controls, including pre-symptomatic/undiagnosed children under age 5. Participants will be asked to provide samples of cheek cells, urine, finger/toe-prick blood and feces, which will be used to quantify serotonin levels and related cell signaling pathways, as well as evaluate commensal bacterial species and their function in the gut. Samples will be compared with those from age-matched neurotypical controls. The study has been approved by an Institutional Review Board in the United States, with planned expansion of the approval into Canada in the near future. IRBs are ethics committees designed to help regulatory agencies ensure that companies employ rigorous protocol standards and adhere to strict regulations surrounding the ethical treatment of human subjects. The study's data collection and storage protocols are also compliant under the Health Insurance Portability and Accountability Act, which sets the standard for protection of sensitive patient data. Announcement • Mar 05
Nova Mentis Life Science Corp. Announces the Launch of Its Us-Based Observational Study Nm- 101 Nova Mentis Life Science Corp. announce the launch of its US-based Observational Study NM- 101: "Microbiotic Diversity in Autism Spectrum Disorder (ASD): Improving Diagnostics by Differentiating Subtypes. NOVA's mission is to discover more precise ways to diagnose and treat autism spectrum disorder (ASD), an unmet medical need. This study will assess the gut microbiome across various subtypes of ASD (including fragile X syndrome) via genetic analysis of fecal samples, comparing bacterial profiles with those from age- matched neurotypical controls. This research is significant because shifts in gut bacteria contribute to the pathophysiology of GI disorders1, which are four times more common among children with ASD2 and are associated with worsening of behavioural symptoms, including anxiety, hypersensitivity and rigid-compulsive behaviours3. Announcement • Feb 26
Nova Mentis Life Science Corp. Receives Approval for Its First Clinical Program in Autism Spectrum Disorder Nova Mentis Life Science Corp. has received approval for its first clinical program in Autism Spectrum Disorder (ASD). The Company has obtained Institutional Review Board (IRB) approval of its protocol for a US-based Observational Study (NM-101): "Microbiotic Diversity in Autism Spectrum Disorder (ASD): Improving Diagnostics by Differentiating Subtypes." The Institutional Review Boards (IRBs) are ethics committees designed to help the FDA and other regulatory agencies ensure that companies employ rigorous protocol standards and adhere to strict regulations surrounding the ethical treatment of human subjects. NOVA's IRB approval represents significant progress along the drug approval pathway, gathering data to support conversations with regulatory agencies and to help design upcoming ASD clinical trials for NOVA's lead drug candidates. The objective of NM-101 is to identify subtle biological patterns in ASD that may underlie known behavioral phenotypes. Positive results will help improve: (1) accuracy of diagnosis, (2) design of next-generation therapeutic molecules, and (3) monitoring of treatment response. Leveraging proprietary machine learning algorithms, NOVA will incorporate diverse biomarker datasets into a Diagnostic Index, which will include gut microflora, epigenetics, and cognitive/behavioral evaluations. Announcement • Feb 19
Nova Mentis Life Science Corp. Expands Pre-Clinical Development Pipeline and Begins Fragile X Syndrome Treatment with its Proprietary Psilocybin Drug Nova Mentis Life Science Corp. announced that the Company is expanding its pre-clinical program to develop a novel diagnostic and treatment approach to fragile X syndrome (FXS), a persistent unmet medical need. FXS is a rare genetic disorder characterized by mild-moderate intellectual disability along with behavioral and learning challenges and various physical characteristics. FXS is considered the most common cause of inherited mental disability and the most known genetic cause of autism spectrum disorder (ASD). There is currently no cure for FXS and early intervention is recommended, including special education, behavioral therapy, speech therapy, etc., as it provides the best opportunity for developing a range of skills. Medications are recommended for associated seizures, mood problems and aggressive behavior. NOVA plans to conduct the FXS study alongside its currently ongoing prenatal valproic acid (VPA) rodent model of ASD with Dr. Trezza. During the treatment phase of the study, NOVA will administer its proprietary psilocybin drug, PLZ-1013 to test its potential efficacy in FXS and to determine therapeutic dosage parameters for planned human studies. NOVA intends to collect fecal bacterial data from the FXS study to continue proving out its proprietary ASD Microbiome Diagnostic Index. It is the intent of NOVA to identify potential genetic subsets within the syndrome called fragile X that may specifically respond, with positive statistical results, to treatment with psilocybin and related tryptamine derivatives. As there are no currently approved therapeutic treatments for FXS, novel investigational techniques may hold promise in managing and treating common symptoms. For example, Zynerba Pharmaceuticals Inc. has received U.S. FDA Orphan Drug designation for the use of cannabidiol (CBD) as a treatment of FXS via their pharmaceutically produced CBD formulation as a patent-protected permeation-enhanced transdermal gel. Announcement • Feb 13
Nova Mentis Life Science Corp. Appoints Gary R. Harlem to its Scientific Advisory Board Nova Mentis Life Science Corp. announced that it has appointed Gary R. Harlem to its Scientific Advisory Board, effective immediately. Mr. Harlem is the founder and CEO of Altucell Biotech, a cellular engineering and biotech company focused on fulfilling a large "unmet need" in cell, molecular and regenerative therapy for treatment of diabetes and other autoimmune and neurodegenerative diseases. Announcement • Feb 09
Nova Mentis Life Science Corp. Approves for Shipment to Italy Nova Mentis Life Science Corp. announced that its proprietary drug psilocybin has been shipped to the laboratory of Dr. Viviana Trezza, Roma Tre University, Rome, Italy. NOVA was notified by its U.S. drug manufacturer that the required controlled substances export application had been approved by the U. S. Department of Justice Drug Enforcement Division (DEA). The psilocybin will be evaluated in the ongoing prenatal valproic acid (VPA) model of autism spectrum disorder (ASD). In this model, which is well accepted by neuroscientists, pregnant rats are exposed to VPA and the resultant offspring have ASD behavioral symptoms (Tartaglione, 2019). This animal model mimics the behavioral and social deficits seen in human ASD. The shipped psilocybin, greater than 95% purity, will be used to treat ASD offspring that have severe behavioral symptoms. This preclinical ASD diagnostic and treatment study began in January 2021 and fecal specimens are being collected to measure changes that occur in the microbial environment within the intestines of pregnant mothers and offspring after VPA exposure of the pregnant mothers.
A NOVA ASD Microbiome Diagnostic Index is being generated that will be potentially applicable to establish subsets of disorders to be treated with psychedelic compounds within the human spectrum called ASD. Animals with severe ASD behavioral symptoms are scheduled in the current study to undergo treatment with NOVA's proprietary psilocybin. Comparisons will be made to control animals. The treatment phase will begin once ASD symptomatic pups have been weened away from the mother. Announcement • Jan 28
Nova Launches Preclinical Autism Spectrum Disorder Therapeutic Study Nova Mentis Life Science Corp. announced that it has commenced the diagnostic and treatment phase of its ongoing preclinical model study of autism spectrum disorder (ASD). In this model, which is well accepted by neuroscientists, pregnant rats are exposed to valproic acid (VPA) and the resultant offspring have ASD behavioral symptoms. NOVA had previously identified statistically significant changes in levels of inflammatory molecules, called cytokines, and in certain bacterial species within the intestinal microbiome of the ASD animals. In the current study, the Company will continue its measurement of the microbiome and cytokines in the animals with severe ASD behavioral symptoms and comparisons will be made to control animals. A treatment phase with its proprietary psilocybin compound is scheduled to begin in February 2021. NOVA is also pleased to inform the medical community that the Company is actively designing human clinical observational study protocols to further confirm its Microbiome Diagnostic Index in ASD. Clinical protocols will be submitted for Institutional Review Board (IRB) approval in the U.S. and Europe as well as appropriate regulatory authorities. The utilization of the VPA ASD behavioral rat model was based on several facts. ASD is a developmental disorder whose main features are impairments in social interaction and verbal/non-verbal communication, together with stereotyped patterns of behavior. Despite scientific and clinical studies to date, the causes of ASD are still unknown. What is known is that human prenatal exposure to the drug valproate (VPA) is associated with increased risk of neurodevelopmental problems, cognitive deficits, and autism in children. Dr. Trezza has shown that "a single prenatal injection of VPA in rodents results in behavioral impairments resembling the core signs of ASD, supporting the high face validity for prenatal VPA as an animal model of autism." – Tartaglione, 2019(1). Several other research groups confirm these findings. NOVA's scientific premise is that the autism pathway induced by VPA may involve similar factors causing other chronic human diseases, including genetic, environmental chemicals, infections, neuroinflammation (oxidative stress), immune system dysfunction and alterations in the microbiome. The Microbiome Diagnostic Index is being developed with the assistance of Dr. Kyle H. Ambert, a member of the NOVA Scientific Advisory Board. Dr. Ambert is currently Director of Data Science at Nike Inc., and has extensive experience in data analytics, machine learning, artificial intelligence, and applied analytics. It is the goal of the Company to utilize machine learning to create a statistically objective biomarker program to measure psychedelic treatment response. As drug design and discovery becomes more personalized, machine learning methods are poised to become a central component of the pharmaceutical development workflow. Announcement • Jan 14
Nova Mentis Life Science Corp. Appoints Julia V. Perederiy, Phd to Its Scientific Advisory Board Nova Mentis Life Science Corp. announced that it has appointed Dr. Julia V. Perederiy, PhD to its Scientific Advisory Board, effective immediately. Dr. Perederiy is an author of multiple peer-reviewed publications, including high-impact studies on brain plasticity in neurodegeneration and on the neurogenetics of autism. In addition to her academic positions, Julia is an experienced entrepreneur and management consultant, helping biotechnology companies with business planning, market research, and fundraising. Announcement • Jan 05
Nova Mentis Life Science Corp Appoints Kyle H. Ambert as Scientific Advisory Board Nova Mentis Life Science Corp. announced that it has appointed Dr. Kyle H. Ambert, PhD to its Scientific Advisory Board, effective immediately. Dr. Ambert has also agreed to become a consultant to NOVA and will assist the Company in designing preclinical and clinical autism spectrum disorder (ASD) studies and analyzing their results. Dr. Ambert is currently Director of Data Science at Nike Inc., and has extensive experience in data analytics, machine learning, artificial intelligence and applied analytics. His previous experience includes postings with the National Library of Medicine and Intel Corp. Dr. Ambert holds a PhD in Biomedical Informatics from Oregon Health & Science University. Announcement • Dec 30
Nova Mentis Life Science Corp. Announces That It Has Added Two Additional Psychedelic Compounds to Its Drug Portfolio Nova Mentis Life Science Corp. announce that it has added two additional psychedelic compounds to its drug portfolio. NOVA has contracted with its U.S. partner to begin manufacturing the active pharmaceutical ingredients (API), baeocystin and aeruginascin. NOVA is currently developing C-GMP API psilocybin at its U.S. partner's facility which has highly trained quality control staff on site and certifies all release testing prior to human studies. Per contractual agreements, NOVA has ownership of the API Drug Master Files ("DMF's"), which will be used for regulatory submission prior to commencing human clinical trials. Announcement • Dec 04
Nova Mentis Life Science Corp. Appoints Marvin S. Hausman as Chairman of Scientific Advisory Board Nova Mentis Life Science Corp. announced that it has appointed Dr. Marvin S. Hausman, MD as Chairman of its Scientific Advisory Board, effective immediately. Dr. Hausman is the Chief Medical Officer of Pilz Bioscience Corp., a wholly-owned subsidiary of NOVA and is leading their research and development efforts in medicinal psychedelics. Dr. Hausman is an immunologist and board-certified urological surgeon with more than 30 years of drug research and development experience with various pharmaceutical companies, including Bristol-Myers International, Mead-Johnson Pharmaceutical Co., E.R. Squibb, Medco Research and Axonyx. Dr. Hausman's plan is to assemble an Advisory Board composed of scientific thought leaders who can help advance the newly emerging field of psilocybin therapeutics. Is New 90 Day High Low • Nov 14
New 90-day high: CA$0.27 The company is up 54% from its price of CA$0.17 on 14 August 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 14% over the same period. Announcement • Nov 03
Nova Mentis Life Science Corp. Appoints Marvin S. Hausman MD as Chairman of Nova’S Scientific Advisory Board and Amalco’s Chief Medical Officer Nova Mentis Life Science Corp. announced that, it has entered into a definitive amalgamation agreement with Pilz Bioscience Corp. Nova Subco will amalgamate with Pilz to form an amalgamated company, Amalco. In connection with the Transaction, Dr. Marvin S. Hausman MD shall be appointed Chairman of Nova’s Scientific Advisory Board and Amalco’s Chief Medical Officer. Is New 90 Day High Low • Oct 19
New 90-day high: CA$0.22 The company is up 10.0% from its price of CA$0.20 on 21 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: CA$0.21 The company is up 27% from its price of CA$0.17 on 16 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 5.0% over the same period. Announcement • Sep 18
Nova Mentis Life Science Corp. Announces Executive Changes Nova Mentis Life Science Corp. announced the appointment of Ms. Jacqueline McConnell to its Board of Directors and as Chief Operating Officer ("COO"). Jacqueline McConnell has over twenty years of experience working for Apotex Inc. She provides critical business strategy input at a senior leadership level to support an organization's ability to achieve local and global growth and corporate sustainability. Ms. McConnell has proven experience developing and implementing programs and systems. Her key contributions include building and leading numerous successful teams to support efficient management of capital and operating activity across budget management, scheduling, quality, safety, and regulatory compliance. Effective immediately in her new role as COO, Ms. McConnell will assume responsibility for, among other things, managing the integration and acting as a liaison to NOVA's business segments, such as psilocybin-focused Nova Mentis Biotech Corp. and the cannabis business investments of NOVA. Concurrent with the appointment of Ms. McConnell to the Board of Directors, Dr. Aylia Mohammadi has stepped down from the Board in order to focus her ongoing efforts as Chief Scientific Officer in charge of the pre-clinical and planned clinical trials of Nova Mentis Biotech Corp. 