RE:RE:FSD Pharma Growth Strategy $HUGE #Nasdaq #Pharma #Biotech
Walter333 wrote: Shareholders simply want true value derived from hard work and results, enough promotion of what is intend to be done, do it. How can you expect to get anything accomplished when continually starting something then halfway through pulling the plug to chase the next great thing?
As previously disclosed, following the May 14, 2021 annual general and special meeting of shareholders, the Company retained Bloom Burton Securities Inc. (“Bloom Burton”) to undertake a review of its Phase 2 clinical program to assist the Company in determining its viability and, more broadly, evaluating the general current commercial viability of FSD-201. In particular, the Company was concerned with the pace of progress in advancing the Phase 2 clinical study during a period in which COVID-19 treatments evolved significantly and competitive products were being successfully advanced. Bloom Burton recently reported its findings and the Company concluded that, while there are potential commercial opportunities for FSD-201, specifically the treatment of COVID-19 by FSD-201 is unlikely to be commercially viable. Based on this information, the Company has elected to terminate the current Phase 2 clinical study in order to concentrate its resources on more commercially viable opportunities.