Wellbeing Digital Sciences ($KONEF) To Participate in the Cantor Fitzgerald Symposium on Mental Health Clinics

The U.S. healthcare sector is growing faster than the rest of the economy. Growth in the sector is being propelled by technological advances, an aging population and improving treatments for chronic diseases and conditions. Health spending accounted for almost 18% of U.S. gross domestic product (GDP) at the end of 2019, and it’s expected to top $6 trillion annually by 2028. (1)

The healthcare sector is so broad that there are several different kinds of healthcare stocks. Four of the most important types include drug stocks, medical device stocks, payer stocks and health care provider stocks. Strong companies can be found within each type of healthcare stock including Vertex Pharmaceuticals (NASDAQ:VRTX), Intuitive Surgical (NASDAQ:ISRG), Novocure (NASDAQ:NVCR), UnitedHealth Group (NYSE:UNH), and Teladoc Health (NYSE:TDOC), UnitedHealth Group Inc (UNH), Johnson & Johnson (JNJ), Pfizer Inc (PFE), Roche Holding AG (RHHBY), Merck & Co Inc (MRK), Abbott Laboratories (ABT)

One small cap company that we would like to draw your attention towards is Wellbeing Digital Sciences Inc (KONEF). According to the company’s profile on yahoo finance, Wellbeing Digital Sciences Inc (KONEF) is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development.

Earlier, on September 29, Wellbeing Digital Sciences Inc (NEO: MEDI) (OTC: KONEF) (FRA: SQ2) announced that Najla Guthrie, CEO of Wellbeing, will participate in the Cantor Fitzgerald Mental Health Clinics Symposium to be held virtually on October 11, 2022 at 9:00 a.m. ET. Najla Guthrie will take part in a 45 minute fireside chat discussing the mental health clinics industry in North America and their significant growth, transformation, and consolidation. In addition to psychotherapy, neurological services, and Ketamine-assisted therapies, some of these clinics may also be able to provide additional psychedelic derived assisted therapies when federal and or local regulations change, creating a global mental health market estimated at $380Bn in 2020 alone and projected to grow to $538Bn by 2030 (2).

KONEF had also reported Financial Results for the Fourth Fiscal Quarter. Revenue Exceeded $1.1 Million for the Period Ended July 31, 2022 (3). Net loss for the quarter ended July 31, 2022 was $4,056,632, as compared to a much higher loss of $27,008,896 for the same period of the prior year, largely due to a $12,324,999 provision for consideration paid in excess of net liabilities acquired from acquisitions and impairment of goodwill of $8,905,830. Total assets at July 31, 2022 decreased by 21.5% to $17,217,108 from $21,921,195 at July 31, 2021, which was mainly attributable to a decreased in cash and cash equivalents.

 “Our three key pillars of our Clinical Network, our Contract Research Organization and our Digital Therapeutics platform have demonstrated the scalability and versatility of the Wellbeing ecosystem. We have projected to complete several research and consulting contracts with significant revenues expected within the next twelve to eighteen months,” stated Najla Guthrie, CEO.

Trading at mere $0.0159, KONEF seems to be an interesting candidate for value investors in the Healthcare sector and Medical Care Facilities industry. As always conduct your own Due Diligence.

Source 1. https://www.forbes.com/advisor/investing/best-healthcare-stocks/

Source 2: https://www.benzinga.com/pressreleases/22/09/b29070792/wellbeing-digital-to-participate-in-the-cantor-fitzgerald-symposium-on-mental-health-clinics

Source 3. https://finance.yahoo.com/news/wellbeing-digital-reports-financial-results-114900745.html

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