FSD Pharma Announces Definitive Agreement to Acquire Lucid Psycheceuticals
This pharmaceutical company is ditching its Covid-19 treatment to focus on psychedelic medicine.
A Toronto pharmaceutical company, FSD Pharma (HUGE), announced a definite agreement to acquire the psychedelic company Lucid Psycheceuticals Inc. for CAD$11.3M. The agreement was announced just one day after the company terminated the Phase 2 clinical trial for its Covid-19 treatment because it was unlikely to be commercially viable.
FSD Pharma went public in May of 2018 and currently trades on the CSE and NASDAQ.