FSD Pharma Inc C.HUGE

FSD doing all the right steps now

[JensLens]

In a bear market even if there is good news needle wont move

• Acquired Lucid Psycheceuticals Inc. (“Lucid”), a specialty pharmaceutical company focused on the development of therapies to treat critical neurodegenerative diseases led by Dr. Lakshmi P. Kotra, B.Pharm.(Hons), Ph.D., recipient of the Julia Levy Award, a Senior scientist at Krembil Brain Institute, University Health Network (“UHN”), and Professor of Medicinal Chemistry at the University of Toronto. Dr. Kotra remains as CEO of Lucid.
• Sold non-core assets, including the Company’s former cannabis processing facility located in Cobourg, Ontario, Canada, for CAD$16.4 million. FSD bought the facility and land for CAD$5.5 million in 2017.
• Amassed a cash position of which is enough to fund the company through 2025, inclusive of the three planned clinical trials this year, without raising new cash.
• Initiated a share repurchase plan, for which 1.52 million shares have been bought and returned to the treasury so far in 2022.
• Insiders of the company frequently buy shares in the open market. Since the beginning of 2022 both founders and executive co-chairmen, Zeeshan Saeed and Anthony Durkacz have bought additional 331,192 and 150,003 shares respectively
• Assembled world-class development and advisory teams. These teams include highly qualified scientists, regulatory and medical professionals with expertise spanning the entire drug development spectrum.
• Advanced each of the Company’s leading drug candidates: LUCID-MS, LUCID-PSYCH, and FSD-PEA (FSD-201).
  • FSD-201 is expected to be in Phase-2 clinical trials in the third quarter for an inflammatory disorder. Requisite documentations have been filed with the U.S. Food and Drug Administration and Health Canada.
  • LUCID-MS, a patented NCE (New Chemical Entity), has shown to slow and reverse demyelination, a hallmark of MS, in mouse models. The company feels LUCID-MS is de-risked to a certain extent with exponential upside since it has been extensively studied in the lab for decades and is designed based upon human brain scans. IND application for a phase 1 trial is expected to be filed by the end of 2022
  • LUCID-PSYCH is undergoing IND-enabling studies and has shown indications of efficacy for Major Depressive Disorders. IND application for Phase 1 trials is expected to be filed by the end of 2022

[Mil_Man54]

Hey Rosenberg....if those steps are to line their own pockets with investor money through scams like giving themselves performance bonuses for zero performance....then I agree...they are doing the right steps....if that isn't what you're talking about then you're just lying to investors as usual.