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FSD Pharma Inc. (HUGE) is a biopharmaceutical innovator advancing cannabinoid-based therapies and pharmaceutical-grade cannabis production. This news hub provides investors and industry professionals with essential updates on clinical developments, strategic partnerships, and regulatory milestones.
Access timely press releases covering clinical trial progress for neurodegenerative treatments, product commercialization efforts including alcohol misuse solutions, and research collaborations shaping the future of medical cannabis. Our curated updates ensure you stay informed about developments impacting FSD Pharma's position in biotech innovation.
Key coverage areas: Phase trial results for Lucid-MS multiple sclerosis treatment, unbuzzd™ market expansion, intellectual property updates, and manufacturing capacity enhancements. All content is verified through primary sources to maintain accuracy.
Bookmark this page for centralized access to FSD Pharma's latest announcements, analyst commentary, and progress reports on therapies targeting autoimmune disorders and neurological conditions.
FSD Pharma Inc. has received a No Objection Letter from Health Canada, enabling the commencement of its Phase 1 clinical trial for LUCID-21-302 (Lucid-MS), a novel treatment for Multiple Sclerosis (MS). This trial aims to assess the safety and tolerability of Lucid-MS, a patented compound developed over 11 years, which has shown potential to prevent myelin degradation in preclinical studies. According to the MS International Foundation, the global MS therapies market is projected to grow from $22.99 billion in 2018 to $28.0 billion by 2026, highlighting the significant demand for innovative MS treatments.
FSD Pharma Inc. (NASDAQ: HUGE) is recruiting for its Phase 2 clinical trial of FSD201, aimed at treating chronic pain associated with idiopathic MCAS. The trial will enroll 60 patients at US sites, with a Canadian site to join soon. FSD201, a proprietary anti-inflammatory compound, successfully completed Phase 1 trials. The study's primary goal is a 30% reduction in pain intensity from baseline to day 28. FSD201 has also received new molecular entity (NME) designation for potential regulatory advantages. The company is focusing on providing innovative treatments for underrepresented conditions.
FSD Pharma Inc. (NASDAQ:HUGE) has submitted a Clinical Trial Application for a Phase-1 trial for LUCID-MS, a novel treatment candidate for Multiple Sclerosis (MS). LUCID-MS, a first-in-class neuroprotective compound, has demonstrated significant potential in preclinical studies by preventing myelin degradation, a key factor in MS. This compound also promotes functional recovery in experimental models. With approximately 2.2 million MS cases globally, there is a pressing need for effective treatments. FSD Pharma has two other drug candidates, enhancing its position in the biopharmaceutical sector.
FSD Pharma Inc. (NASDAQ: HUGE) has submitted a Clinical Trial Application (CTA) to initiate a Phase 1 clinical trial for Lucid-MS, an innovative drug candidate aimed at treating Multiple Sclerosis. This first-in-class neuroprotective compound has shown promising preclinical results by preventing myelin degradation and promoting recovery in experimental models. The CEO expressed optimism about Lucid-MS's potential to address unmet needs in treating progressive MS. FSD Pharma is focused on advancing its pipeline of drug candidates, including Lucid-Psych for mental health disorders and FSD201 for inflammatory diseases.
FSD Pharma Inc. (NASDAQ: HUGE) has announced a normal course issuer bid (NCIB) authorized by its Board of Directors to repurchase up to 1,925,210 Subordinate Class B Voting Shares over the next 12 months. This represents approximately 5% of the company’s outstanding shares as of January 12, 2023. The NCIB aims to utilize excess cash reserves to enhance shareholder value without disrupting ongoing ambitious growth plans. The company's Interim CEO stated that the shares are undervalued, indicating confidence in future prospects. Previous repurchases included 1,999,800 shares at approximately $1.20 CDN each.
FSD Pharma Inc. (NASDAQ: HUGE) has announced significant developments including the establishment of a new subsidiary in Australia to leverage drug development incentives. The company is enhancing its Scientific and Clinical Expert Committee with the appointments of Dr. Jeremy Chataway, Dr. Ashwin Dhanda, and Dr. Anh Lê. Furthermore, FSD Pharma is exploring new products targeting acute medical needs related to substance abuse, specifically alcohol. These initiatives aim to strengthen its pipeline and advance innovative solutions to critical health issues.
FSD Pharma Inc. (NASDAQ: HUGE) has announced its participation in the 41st Annual J.P. Morgan Healthcare Conference from January 9-12, 2023, in San Francisco, California. Key executives, including Dr. Lakshmi P. Kotra and Zeeshan Saeed, will be available for meetings. FSD Pharma is focused on developing innovative pharmacological solutions, with three drug candidates in various development stages. Their subsidiaries are engaged in researching treatments for inflammatory diseases and mental health disorders, demonstrating FSD Pharma's commitment to addressing global health challenges.
FSD Pharma Inc. (NASDAQ: HUGE) announced the appointment of Dr. Lakshmi P. Kotra and Mr. Joseph L. Romano to its Board of Directors, effective November 25, 2022. This follows the resignation of Fernando Cugliari. Dr. Kotra, an expert in medicinal chemistry with extensive research and drug development experience, has been serving as CEO of Lucid Psycheceuticals, a FSD subsidiary. Mr. Romano, a founding member of Romano Law Firm, brings a strong legal background. The company believes their expertise will significantly enhance its strategic direction.
FSD Pharma (NASDAQ: HUGE) announced the dismissal of a US$30.2 million claim by former CEO Dr. Raza Bokhari regarding wrongful dismissal. The arbitrator ruled in favor of FSD Pharma, mandating Dr. Bokhari to repay specific amounts and cover the company's arbitration costs. The current management expressed satisfaction with this outcome, viewing it as a vindication of their actions during a past proxy battle. FSD Pharma maintains a robust financial position to support its ongoing drug development initiatives, with shares trading at $1.37 on the CSE.
FSD Pharma Inc. (NASDAQ: HUGE) announced the dismissal of a $30.2 million claim by former CEO Dr. Raza Bokhari, which was ruled in favor of the company on November 9, 2022. The arbitrator not only dismissed the claim but also mandated Dr. Bokhari to repay certain amounts to FSD Pharma and cover its arbitration costs. Current leadership views this outcome as a complete vindication of their actions during the prior proxy battle, allowing them to refocus on advancing drug candidates and enhancing shareholder value.
