FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, is spotlighted in a recent report released by Goldman Small Cap Research, a stock market research firm specializing in the small cap and microcap sectors. The new report notes that through its wholly owned subsidiary, Lucid Psycheceuticals Inc., FSD is working to develop its lead compound, Lucid-MS, a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis. The report also mentions that FSD is working to research and develop UNBUZZD(TM), a proprietary formulation of natural ingredients, vitamins and minerals designed to support liver and brain function and help individuals recover more quickly from the effects of alcohol consumption.
Written by analyst Rob Goldman, the report called HUGE its “2024 NASDAQ stock pick of the year,” noting that the company’s two lead product candidates are “poised to achieve substantial growth and market penetration.” The report stated that the company is scheduled to begin commercialization in early 2024 in one business line and launch a 2H24 phase II clinical trial in the other. “Its lead biopharmaceutical candidate to treat MS, Lucid-MS, has generated encouraging interim data results in its phase I clinical trial,” the Goldman Small Cap Research report stated. “Given unique characteristics such as mechanism of action, and the ability to potentially reduce myelin degradation, the orally administered Lucid-MS could ultimately receive FDA approval in 2027. . . UNBUZZD is a new functional beverage that seeks, for the first time, to provide relief from inebriation and truly accelerate alcohol metabolism. This leads to reduced breath alcohol concentration (‘BrAC’) and a faster path to sobriety.”
In addition, FSD Pharma announced today that it has obtained a final order from the Ontario Superior Court of Justice approving its previously announced statutory plan of arrangement. The plan outlines a transaction whereby common shares in the capital of Celly Nutrition Corp. will be distributed to the holders of class A multiple voting shares, class B subordinate voting shares and warrants of company shares. This arrangement was approved by FSD Pharma Securityholders earlier this month. According to the announcement, the arrangement is anticipated to close on or about Nov. 29, 2023, subject to the satisfaction and/or waiver of all customary conditions. Upon closing, FSD Pharma securityholders will receive one Celly Nu share for each class A Share, class B Share and/or FSD Pharma distribution warrant held.
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About FSD Pharma Inc.
FSD is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (“Lucid”), FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) (“Lucid-MS”). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD is also focused on the research and development of UNBUZZD(TM), a proprietary formulation of natural ingredients, vitamins and minerals to help with liver and brain function for the purposes of quickly relieving individuals from the effects of alcohol consumption. FSD maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represent loans secured by residential or commercial property. For more information about the company, please visit www.FSDPharma.com.
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