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FSD Pharma Inc. (NASDAQ: HUGE) has successfully completed the first-in-human sentinel dosing of Lucid-MS, a novel oral treatment for Multiple Sclerosis (MS), as part of its Phase I clinical trial. The milestone, achieved on April 16, 2023, marks a significant advancement in the company’s decade-long research journey. Lucid-MS is designed to be a non-immunomodulatory neuroprotective compound, with preclinical studies indicating its potential to prevent myelin degradation, a critical issue in MS. The global MS therapies market, valued at $22.99 billion in 2018, is projected to grow to $28.0 billion by 2026, highlighting the importance of innovative treatments like Lucid-MS. This trial aims to address the pressing need for effective MS therapies that go beyond current immunomodulatory options.

FSD Pharma Inc. (NASDAQ: HUGE) has announced its plan to complete a spin-out transaction through a Plan of Arrangement under the Business Corporations Act in Ontario. This transaction aims to establish a new independent public company, Pubco, dedicated to enhancing shareholder value by allowing FSD Pharma to focus on its core assets. Shareholders eligible as of the Distribution Date will receive shares in both FSD Pharma and Pubco proportionately. The spin-out is expected to finalize in July 2023, pending shareholder and court approvals. An annual meeting is scheduled for June 29, 2023, for voting on the plan. Additionally, FSD Pharma has engaged ClearThink Capital and RagingBull for marketing services as part of its strategy to enhance corporate positioning.

FSD Pharma Inc. (NASDAQ: HUGE) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022. The report includes audited financial results for Q4 and the entire year, alongside management discussions. The company, committed to developing innovative biotech solutions for neurodegenerative, inflammatory, and metabolic disorders, has three drug candidates at various stages of development. Key subsidiaries include FSD BioSciences and Lucid Psychss, focusing on inflammatory diseases and mental health disorders, respectively. The filings are accessible on SEDAR and EDGAR.

FSD Pharma Inc. (NASDAQ: HUGE) has appointed Gerry David to its Advisory Board. David, known for his transformative leadership at Celsius Holdings (NASDAQ: CELH), drove a 35-fold increase in shareholder value during his tenure. He is expected to leverage his extensive experience to enhance FSD Pharma's strategies, particularly in developing innovative solutions for alcohol misuse. The company is focused on advancing its pharmaceutical pipeline, including FSD201 for inflammatory diseases and other compounds targeted at mental health and neurodegenerative disorders. Investors may view this appointment as a positive step towards growth and commercialization of new products.