Really interesting article over an equity guru, that summarizes nicely the horrible failure, missed opportunities, executive miss management
Here are a few choice quotes: Is FSD Pharma (HUGE.N) getting into psychedelics to avoid being kicked off the Nasdaq?
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The company filed an Investigational IND with the FDA in August 2020 and was given the green light just a month later to initiate a phase 2 clinical trial for the use of FSD201 to treat COVID-19. But last month announced they were terminating the study. Another L for FSD Pharma. Can we please change this company’s name to SMDH Pharma. They were cannabis, then they were Covid, now they are psychedelics. They can’t seem to make up their mind, it all feels pretty random and fly by night.”
“They also seem to burn their bridges after each phase instead of integrating a series of different verticals under one rooftop kind of like Revive (RVV.C) did. It’s been a bizarre strategy and the company’s share price has been nothing more than a flatline with the occasional blip for years now. Whatever trend comes after psychedelics I wouldn’t surprised to see another pivot, CEO, rollback, etc”
“FSD Pharma announced back in August it was acquiring 100% of the issued and outstanding shares Lucid Psycheceuticals Inc. (“Lucid”), a Canadian-based specialty psychedelic pharmaceutical company focused on the development of therapies to treat critical neurodegenerative diseases, for roughly $11.3 million CAD in FSD Pharma stock. Prof. Lakshmi Kotra, co-founder and CEO of Lucid, commented, “We started with a vision to accelerate therapies for Total Brain Health.” My counter to that would be, you just took $11.3 million CAD in FSD shares “
https://equity.guru/2021/09/20/no-one-is-excited-about-fsd-pharma-huge-n-getting-into-psychedelics/