FSD Pharma Inc C.HUGE

Highlights

[Axell1818]

Completion of financings for gross proceeds of $19.5 million USD through two registered direct offerings. As of September 30, 2020, cash & non-cash assets are $56.2 million CAD and short & long term liabilities are $13.6 million CAD.

[Axell1818]

Entry into a definitive settlement agreement with respect to the class action litigation commenced by a plaintiff shareholder in the Ontario Superior Court of Justice in February 2019 relating to the build out of the Company’s facility in Cobourg, Ontario. The Company is obligated to pay $5.5 million CAD in settlement; of which, approximately $4.6 million CAD will be funded from insurance proceeds

[Axell1818]

Recent acquisition of Prismic Pharmaceuticals

[Axell1818]

Ongoing cannabinoid-based studies with SciCann.

[Axell1818]

the latest cultivation technologies are to be employed at the facility.

[Axell1818]

100 percent ownership of former Kraft Foods facility measuring 70 acres, with 40 acres primed for development.

[Akia1818]

Experienced executives and Advisory Board of leading researchers.  

[Akia1818]

ACMPR licensed producer, operating under the recently enacted Cannabis Act.

[Akia1818]

Strategic alliances in place with SciCann, High Tide, Canntab, Cannara, World Class Extractions , Solarvest BioEnergy, Huge Shops and Aura Health.

[Msabundance]

They also announced that it has entered into a definitive settlement agreement with respect to the class action litigation commence by a plaintiff shareholder in the ontario superior court of justice.

[Msabundance]

FSD BioSciences holds the exclusive worldwide licensing rights (except Italy and Spain) to ultra- micronized-PEA for all conditions in all regulatory categories. It has a strong IP portfolio covering ultra-micronized composition of matter and use (2029-34 U.S. expiration)

[Msabundance]

Wow! They successfully completed Phase 1 first-in-human safety and tolerability trial with no serious adverse effects discovered. That was a great news.

[Slasher94]

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[Msabundance]

Filing an Investigational New Drug Application (“IND”) application with the U.S. Food and Drug Administration (“FDA”) and receiving approval to initiate a Phase 2 clinical trial for the use of our lead compound, ultramicronized-palmitoylethanolamide (or ultramicronized PEA) (“FSD201”), to treat 352 hospitalized COVID-19 patients in a double-blind study.

[Msabundance]

We believe FSD201 to be a safe drug with anti-inflammatory properties which may have the potential to address the over-exuberant inflammatory response characterized by COVID-19 infection that may lead to a cytokine storm and ultimately death.

[Msabundance]

The Company believes it has sufficient cash on hand to complete the study.That`s a great news, isn`t it?

[Msabundance]

Yeah! You know that more information on the clinical trial is available on the U.S. National Library of Medicine Website at: https://clinicaltrials.gov/ct2/show/NCT04619706?term=palmitoylethanolamide&cond=Covid19&draw=2&rank=2.