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FSD Pharma Inc. (symbol: HUGE) is a leading biopharmaceutical company headquartered in Toronto, Canada. Originally founded in 1998, FSD Pharma is committed to developing innovative treatments for complex neuropsychiatric, neurodegenerative, and inflammatory disorders. The company operates through two main segments: Biopharmaceutical and Strategic Investments.
FSD Pharma, through its subsidiary FV Pharma Inc., focuses on producing medical-grade cannabis in Canada. The company is heavily involved in the research and development of cannabinoid-based therapies targeting central nervous system disorders, autoimmune diseases affecting the skin, gastrointestinal tract, and musculoskeletal system, such as chronic pain.
The company's core development pipeline includes FSD201, an ultra-micronized formulation of PEA, designed to treat inflammatory diseases, along with Lucid-Psych for mental health disorders and Lucid-MS for neurodegenerative conditions. FSD Pharma has formed strategic alliances with companies like SciCann Therapeutics Inc., Canntab Therapeutics, and Solarvest BioEnergy Inc. to bolster its research capabilities and expand its product portfolio.
One of the company's notable breakthroughs is the development of unbuzzd™, a proprietary blend of vitamins, minerals, and botanical extracts that aids in alcohol metabolism and mental alertness. This formulation has been licensed to Celly Nutrition Corp., which is responsible for its market launch in the United States.
FSD Pharma has been actively engaging in clinical trials to validate the efficacy and safety of its products. Recently, the company announced a Phase 1 trial for Lucid-MS aimed at evaluating its potential to prevent and reverse myelin degradation in multiple sclerosis. Another significant milestone is the METAL-2 trial, conducted in collaboration with the Applied Science and Performance Institute (ASPI), which aims to test the safety and efficacy of unbuzzd™.
FSD Pharma is also making strides in strategic investments through its wholly-owned subsidiary, FSD Strategic Investments Inc., which involves loans secured by residential or commercial properties. This diversified approach ensures a steady stream of funding for its core research and development activities.
In terms of financial health, FSD Pharma maintains a robust portfolio and is well-positioned to capitalize on future growth opportunities. The company has demonstrated a consistent commitment to advancing science and improving patient outcomes through its innovative biopharmaceutical solutions.
FSD Pharma Inc. (NASDAQ: HUGE) has established a Regulatory Advisory Board to oversee its clinical drug development. The board includes experts Dr. Joga Gobburu and Dr. Mary Melnyk, who bring extensive experience from the FDA and various pharmaceutical companies. Dr. Gobburu has a notable background in pharmacometrics, contributing to numerous FDA drug approvals, while Dr. Melnyk has expertise in regulatory compliance for drug and device development. This strategic move aims to enhance FSD Pharma's capacity to advance its drug candidates in neurology and inflammation.
FSD Pharma Inc. (NASDAQ: HUGE) announced that Interim CEO Anthony Durkacz will present at the H.C. Wainwright 2nd Annual Virtual Psychedelics Conference on December 6, 2021. The presentation will be available on-demand starting at 7:00 a.m. ET via the investor relations section of FSD's website. Additionally, FSD Pharma's management team will hold one-on-one investor meetings during the conference. The company focuses on developing innovative drug candidates, including ultra-micronized palmitoyl ethylamine (FSD-PEA) and other compounds for mental and neurodegenerative disorders.
FSD Pharma Inc. (NASDAQ: HUGE) announced pre-clinical data supporting Lucid-MS, its lead drug candidate for multiple sclerosis treatment. The study showed that mice treated with Lucid-MS improved significantly in clinical scores compared to the placebo. The results suggest that Lucid-MS may prevent myelin degradation and encourage functional recovery. CEO Dr. Lakshmi P. Kotra emphasized the drug's unique therapeutic potential and expressed eagerness to advance it to clinical trials. FSD Pharma is also developing other candidates like Lucid-PSYCH for mental health disorders.
FSD Pharma has appointed Dr. Eleanor N. Fish, an expert in immunology and inflammatory disorders, to its Research and Clinical Advisory Board. Dr. Fish joins the firm to enhance the development of FSD-PEA, an anti-inflammatory agent, and Lucid-MS, aimed at treating multiple sclerosis. Her extensive experience, including her role on the Government of Canada’s Expert Scientific Panel, is expected to drive the company’s research and clinical initiatives forward.
FSD Pharma Inc. (NASDAQ: HUGE) has partnered with Covar Pharmaceuticals Inc. to produce research quantities of its drug candidate, Lucid-PSYCH, for clinical evaluation. This psychoactive compound aims to treat major depressive disorders and is supported by machine learning analysis of its properties. Under the agreement, Covar will manufacture both Non-GMP and GMP versions of Lucid-PSYCH for preclinical and Phase 1 clinical trials. The initiative is part of FSD's strategy to move Lucid-PSYCH from research to clinical application, with expectations of IND approval.
FSD Pharma, a life sciences holding company, announced participation in the KCSA Psychedelics Investor Conference on October 13-14, 2021. Interim CEO Anthony Durkacz and Lucid Psycheceuticals CEO Dr. Lakshmi P. Kotra will present live on October 13 at 2:30 p.m. ET. Investors can register for the event here. FSD Pharma focuses on innovative healthcare solutions and is actively pursuing acquisitions in the biotech space, particularly targeting mental health disorders and neurodegenerative diseases.
FSD Pharma Inc. (NASDAQ: HUGE) has engaged several firms including Hybrid Financial Ltd., North Equities Corp., and Looking Glass Capital Consultants to enhance market awareness and shareholder communication. The contracts involve monthly fees and the issuance of common shares as compensation, totaling approximately US$22,500 to US$50,000 per month. Integral Wealth Securities Limited has also been retained for market-making services to improve liquidity. These efforts signify a strategic allocation of resources toward investor relations following a review of capital on hand.
FSD Pharma Inc. has successfully acquired Lucid Psycheceuticals Inc. for approximately
FSD Pharma (HUGE) announced a definitive agreement to acquire Lucid Psycheceuticals for approximately US$9 million in FSD stock. The acquisition aims to bolster FSD's pipeline in psychedelics and medical cannabis, specifically targeting neurodegenerative diseases and mental health disorders. Lucid brings a strong pipeline of therapeutic compounds and is partnered with the University Health Network for exclusive rights to new chemical entities. The transaction involves the issuance of approximately 4.5 million FSD Shares and requires shareholder approval.
FSD Pharma Inc. (NASDAQ:HUGE) has announced the termination of its Phase 2 clinical trial for FSD-201, designed to treat COVID-19, after an independent review indicated its commercial viability was unlikely. Following the FDA's approval of the IND in June 2020 and the Phase 2 study in September 2020, the company has opted to refocus resources on more viable opportunities. Despite the disappointment over discontinuing the trial, FSD Pharma remains committed to exploring other commercial avenues for FSD-201, as stated by President Zeeshan Saeed.
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