Is #AI Paving the way for #MentalHealth #Stocks? (CSE: $NARA.CN)
(NASDAQ: $WAVD) (NYSE: $AMWL) (NASDAQ: $TALK) @pangenomic @Amwell @talkspace
November 23, 2023 - Investorideas.com (www.investorideas.com), a global investor news source covering health and wellness stocks
releases a special report on breakthrough technologies for mental health,
featuring PanGenomic Health Inc. (CSE: NARA) (AQSE: NARA). PanGenomic describes itself as ‘’Your
smart tech partner in natural health’ and is using the power of AI to help
revolutionize healing.
Read this article, featuring NARA in full at https://www.investorideas.com/news/2023/technology/11231AI-Mental-Health.asp
The global mental wellness market is anticipated
to grow from USD 145.83 billion to USD 280.52 billion in 10 years. The market
will experience rapid growth due to the rising awareness about mental wellness,
Major market players are investing extensive capital in developing therapies,
drugs, medical devices, equipment, systems, and treatments based on research
findings to cater to the growing mental wellness market.
Most medical experts agree we are in a global
mental health crisis and it is only worsening. While some companies turn to
traditional methods including pharmaceuticals to solve the growing problem,
others are looking to revolutionize the way we treat mental health using
technology, and AI is aiming to take the driver’s seat.
PanGenomic Health Inc. (CSE: NARA) (AQSE: NARA), a precision health company that has developed a self-care digital
platform using AI recently announced that its subsidiary, MUJN
Diagnostics Inc. has launched its BDNF (brain-derived neurotrophic factor)
mental health biomarker health assessment service.
More significantly, it has completed its first sale
of the point-of-care test marketed to health clinics in Canada.
From the news: MUJN Diagnostics Inc. is a wholly-owned subsidiary
of PanGenomic Health Inc. and is focused on developing a decision support
system for alternative healthcare providers. MUJN's Decision Support System is
intended to include biomarker diagnostics, symptom and treatment tracking, and
personalized health analytics, with the goal of empowering healthcare providers
and their patients towards better outcomes.
"Our strategy is to continue to expand MUJN
Diagnostic's health services beyond our initial Vitamin D assessments to
include rapid in-clinic access to a panel of mental health patient
point-of-care biomarker assessments", said Vincent Lum, CEO of MUJN
Diagnostics and Co-Founder of PanGenomic Health. "Our newest product is
the MUJN BDNF Biomarker assessment for mental health and wellness. Changes in
BDNF levels provide important information for health practitioners when
considering treatment options for patients with brain health concerns such as
major depressive disorder."
From the news: Current clinical research on BDNF has found that:
BDNF plays a significant role in the survival and
development as well as creation of new neurons. BDNF has been shown to be a
critical regulator of neurocognitive functions and impairment of BDNF levels
have been connected to a variety of mental health diseases.
Decrease in the expression of BDNF is seen in many
neurological problems such as Depression, Alzheimer's, Parkinson's,
Huntington's and bipolar disease.
BDNF serum levels are lower in patients with major
depressive disorder compared with those in healthy controls. Pharmacological
treatments often lead to an increase in BDNF levels, which correlates with an
improvement in a patient's mental health condition.
PanGenomic’s current ‘product line includes its
Nustasis AI Platform, MUJN Diagnostics, and the NARA and MindLeap
consumer apps, all designed to complement conventional medicine, and simplify
the path to better health.
According to a June press release; “The Company is planning
to launch Conversational AI on the web based NARA platform by Q3, followed by a
roll out on the NARA app by Q4 of this year.”
A new entry to the public market with an AI
approach to mental health, WaveDancer, Inc. (NASDAQ: WAVD) announced last week that it has entered into a
definitive merger agreement with privately held, commercial-stage, medical
technology company, Firefly Neuroscience, Inc. (“Firefly”), to combine the
companies in an all-stock transaction. The combined company will focus on
continuing to develop and commercialize Firefly’s Artificial Intelligence
driven Brain Network Analytics (BNA™) platform, which was previously cleared by
the U.S. Food and Drug Administration (“FDA”). Upon closing, which is currently
expected in Q1-2024, the combined company is expected to operate under the name
Firefly Neuroscience, Inc., and trade on the Nasdaq Capital Market.
Describing
Firefly’s Brain Network Analytics (BNA™) platform the news says, “BNA™ is
an FDA-cleared, cloud-based, AI-powered platform used to objectively assess
brain function by comparing patient electroencephalograms (EEGs) with a
proprietary database of standardized, high-definition EEGs and behavioral data.
BNA™ is used by psychiatrists and neurologists in the United States to support
the diagnosis of mental illnesses and cognitive disorders; optimize treatment
care pathways; and improve patient compliance to therapy. Real-world clinical
use has shown that when BNA™ is used as part of patient management, patients
showed improved response rates; enhanced therapy compliance; and reduced
non-responder rates and need for medication switching.”
From the news: Jamie Benoit, Chief
Executive Officer and Chairman of WaveDancer, commented, “Following a strategic
review and analysis of our long-term prospects as a publicly-traded company,
the Board determined that this merger is in the best interests of WaveDancer’s
stockholders and an attractive opportunity to realize significant value as Firefly
pursues multiple market opportunities for its BNA™ platform. Firefly has
emerged from the rigorous FDA approval process and its BNA™ platform has been
subjected to comprehensive academic peer-review. We believe these factors
contribute to a competitive advantage for Firefly and position it as a unique
public company.”
Harnessing the power of AI for mental health
improvement, Virtual care provider Amwell (NYSE: AMWL) as reported by Behavioral Health ”has its sights set on using artificial
intelligence to bolster its behavioral health capabilities.”
“The telehealth giant recently launched a system
within its platform that immediately connects patients to a therapist in real
time.”
“After Amwell providers or its AI-backed automated
systems determine the patient needs mental health services, the patient is
queued to see a clinician on the same platform. The move is meant to bridge a
systemic gap in health care: patient activation.”
“Amwell rolled out the system near the beginning of
the quarter. It’s part of the company’s rolling implementation of Converge, a
unified tech platform.”
“Survey data show that about 42% of Americans
who sought mental health care couldn’t get it because of costs or other
barriers, such as lack of proximity to care. This is a dire roadblock that
keeps patients from getting the care they seek, or that is prescribed to them
by primary care providers, who already have access to the patient.”
Also using technology for mental health, Talkspace
(Nasdaq: TALK) a leading virtual behavioral healthcare company
recently reported third quarter 2023 financial
results.
Third Quarter 2023 Key Performance Metrics:
Revenue increased 32% over the prior-year period to $38.6 million,
driven by a 79% year-over-year increase in the B2B revenue categories,
partially offset by a 32% year-over-year consumer revenue decline.
Gross profit increased 29% over the prior-year period to $18.8 million,
and gross margin declined to 48.8% from 49.8% year-over-year, driven by a shift
in revenue mix towards payor.
Operating expenses were $24.0 million, down 30% year-over-year, driven
by a reduction across all of our operating cost categories.
Net loss was $(4.4) million, an improvement from $(18.0) million net
loss in the third quarter of 2022, primarily driven by lower operating expenses
and an increase in revenues.
Talkspace pioneered the ability to text with a
licensed therapist from anywhere and now offers a comprehensive suite of mental
health services from self-guided products to individual and couples therapy, in
addition to psychiatric treatment and medication management. With Talkspace’s
core psychotherapy offering, members are matched with one of thousands of
licensed providers across all 50 states and can choose from a variety of
subscription plans including live video, text or audio chat sessions and/or
asynchronous text messaging.
As technology
evolves, the applications for health and wellness are endless. As PanGenomic Health says – AI and other
technology may become natural health’s ‘smart tech partner’ of the future.
About Investorideas.com - Big Investing Ideas
Investorideas.com
is a platform for investing ideas. We publish
breaking stock news, stock research, guest posts and create original top rated
investing podcasts, plus sector tag articles featuring up and coming companies
and industry leaders. Investor Idea’s
original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast , Cleantech and Climate Change Podcast, Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast. We also create
free investor stock directories for AI and tech, biotech, cannabis, cleantech,
crypto, defense, gaming, health and wellness, mining, oil and gas, sports and
water.
Public companies
within the sectors we cover can use our news publishing and content creation services to help tell
their story to interested investors.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced
news, articles and equity research as well as creates original content,
including video, interviews and articles. Original content created by
investorideas is protected by copyright laws other than syndication rights. Our
site does not make recommendations for purchases or sale of stocks, services or
products. Nothing on our sites should be construed as an offer or solicitation
to buy or sell products or securities. All investing involves risk and possible
losses. This site is currently compensated for news publication and
distribution, social media and marketing, content creation and more. Disclosure
is posted for each compensated news release, content published /created if
required but otherwise the news was not compensated for and was published for
the sole interest of our readers and followers. Contact management and IR of
each company directly regarding specific questions. Disclosure: This tag
article featuring NARA is paid for
content ( third party) Learn more about the cost of ticker tag articles and our
other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp
Global
investors must adhere to regulations of each country. Please read
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow
us on Twitter https://twitter.com/Investorideas
Follow
us on Facebook https://www.facebook.com/Investorideas
Follow
us on YouTube https://www.youtube.com/c/Investorideas
Contact Investorideas.com
800-665-0411
Get more tech stocks investor ideas- news, articles, podcasts and stock directories
Get the Health,
Wellness and Sustainability Stocks Directory at
Investorideas.com - includes vegan and plant-based food stocks
No comments:
Post a Comment