What is going on with MCURF?
Mind Cure Health Inc. (MCURF) stock is lower after the company announced the release of the minimum viable product version of iSTRYM, its digital therapeutics platform for psychedelics, into partner clinics across North America.
iSTRYM is a software application that offers treatment protocols, in-session psychedelic-informed tools, customizable dashboards, integration plans, and real-time assessments for patients.
Mind Cure is a leader in advanced proprietary technology and research for psychedelics. Shares of the company declined 1.76% to $0.3 as of Thursday at 11:46am.
What does this mean for Mind Cure Health Inc?
Mind Cure's foray into digital therapeutics marks a milestone for the company and has been termed "a key part" of their value creation strategy. It will afford the company near term revenue opportunities, as well as the capacity to globalize its footprint across various psychedelic drugs in locations where they are being administered legally.
"Mindcure created iSTRYM with the goal of unlocking value for researchers, therapists, and ultimately patients in need," said Dr. John Brownstein, CIO at Boston Children's Hospital and company advisor. "I believe there's a real opportunity to improve mental health treatments through a better understanding of patient and research data, and that this platform can be a valuable resource for the entire psychedelics industry."
Mindcure will begin full commercial deployment to all clinics in Q1 of 2022, with a plan to initially target psychedelic clinics. It currently forecasts 150 clinics in Canada, the US, and Europe utilizing iSTRYM by Q4 2022.
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Mind Cure Health Inc is a mental health and wellness company. The company is focused on the development, manufacture, and distribution of a branded line of organic, functional mushroom extracts. Its products are marketed under the Moonbeam Brand.