Tag: $0K9

FSD Pharma Announces Dismissal of Derivative Complaint

Toronto, May 6, 2022 – FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today that the Company was successful in its motion to dismiss the derivative claim that was filed by Mr. Maheep Goyal, a shareholder (the “Plaintiff”) on July 20, 2021 in Delaware against the Company and its directors and officers (the “Claim”). In a decision dated May 5, 2022, the Delaware court dismissed the Claim without prejudice on the grounds that Mr. Maheep Goyal, the Plaintiff, lacked standing to bring his claims.

“We have always believed that the lawsuits against the Company are frivolous in nature. We are pleased to hear that the courts of Delaware have dealt with this particular claim appropriately and are looking forward to the resolution of the Company’s remaining litigation,” said Anthony Durkacz, Interim CEO and Co-Executive Chairman of the Company.

The dismissal of the Claim marks another claim against the Company that has been successfully dismissed, following the dismissal of the joint claim filed by Mr. Edward Brennan Jr. and Huma Qamar two former FSD BioSciences employees in Pennsylvania on December 13, 2021.

About FSD Pharma

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences”), a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc. (“Lucid”), a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.

Forward Looking Information

Certain statements contained herein are “forward-looking statements.” Often, but not always, forward-looking statement can be identified by the use of words such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “hopes”, “planned” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might”, “potentially” or “will” be taken, occur or be achieved. Forward-looking statements contained in this press release include the comments made with respect to the resolution of the Company’s remaining litigation. FSD cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Factors that may cause such material differences include without limitation: the fact that the drug development efforts of both Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain, and the drug product candidates of Lucid and FSD BioSciences may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of Lucid and FSD BioSciences; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of Lucid and FSD BioSciences; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected, or impacted by COVID-19 related issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of Lucid and FSD BioSciences; and other risks. Further information regarding factors that may cause actual results to differ materially are included in the Company’s annual and other reports filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov) under the heading “Risk Factors.” Any forward-looking statement contained in this release speaks only as of its date. The Company does not undertake to update any forward-looking statements, except to the extent required by applicable securities laws.

Contacts

Zeeshan Saeed, Founder, President and Executive Co-Chairman of the Board, FSD Pharma Inc.

Email: Zsaeed@fsdpharma.com

Telephone: (416) 854-8884

Investor Relations:

Email: ir@fsdpharma.com , info@fsdpharma.com

Website: www.fsdpharma.com

InvestmentPitch Media Video Discusses FSD Pharma’s, a Life Sciences Holding Company, Agreement to Sell Former Cannabis Processing Facility in Cobourg, Ontario for $16,500,000 – Video Available on Investmentpitch.com

VANCOUVER, British Columbia, Feb. 28, 2022 (GLOBE NEWSWIRE) — FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FSE:0K9), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, has entered into a firm agreement in connection with the sale of its 64.43-acre, former cannabis processing facility located in Cobourg, Ontario.

The purchaser has agreed to pay a cash sum of CAD$16,500,000, including a deposit of CAD$660,000, which was received by FSD Pharma on February 24, 2022.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “FSD Pharma” in the search box.

The transaction, which is non-dilutive to the shareholders, is expected to close on May 31, 2022, subject to a number of conditions. Management believes this infusion of cash should increase the value of each share by about $0.40, at current prices.

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development.

FSD Pharma, through FSD BioSciences, a wholly owned subsidiary, is currently assessing next steps for FSD-PEA, an ultra micro-PEA compound with anti-inflammatory properties shown to be safe following positive Phase 1 clinical results. FSD-PEA has the potential to address a range of inflammatory conditions. FSD Pharma is currently analyzing what is the best indication to go for a Phase 2 trial

Lucid Psycheceuticals, also a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH and Lucid-MS. Lucid-MS is Neuroprotective compound which, in pre-clinical models, has shown to prevent and reverse Myelin degradation, which is a cause for Multiple Sclerosis as well as other Neuro-degenerative disorders. It has shown excellent results in several animal models. The current treatment market is valued at US$23 billion globally. Lucid-PSYCH is a psycho-active molecule which has shown excellent results for depression in pre-clinical models. According to the World Health Organization, it is estimated that 300 million people worldwide are living with depression.

The shares are trading at $1.30 on the Canadian Securities Exchange. For more information, please visit the company’s website, www.FSDpharma.com, or contact Zeeshan Saeed, President and Founder, at 416-854-8884 or by email at zsaeed@FSDpharma.com. For investor relations in Canada email IR@FSDPharma.com and in the United States, contact Stephen Kilmer at SKilmer@FSDpharma.com.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. FSD Pharma has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com

Source: InvestmentPitch Media and FSD Pharma

Released February 28, 2022

FSD Pharma to Present at the H.C. Wainwright 2nd Annual Psychedelics Virtual Conference on December 6th

TORONTO–(BUSINESS WIRE)– FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today that Anthony Durkacz, Interim CEO of FSD Pharma, will present at the H.C. Wainwright 2^nd Annual Virtual Psychedelics Conference to be held on December 6, 2021. Mr. Durkacz’s presentation will be available on-demand for conference attendees starting at 7:00 a.m. ET and accessible to view on the investor relations section of FSD’s website at https://ir.fsdpharma.com/news-events/events-presentations.

In addition, members of FSD Pharma’s management team will be available for one-on-one investor meetings during the conference.

For more information about the conference, or to schedule a one-on-one meeting with FSD’s management team, please contact KCSA Strategic Communications at FSDPharma@kcsa.com or an H.C. Wainwright representative directly.

About FSD Pharma

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences”) is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Through the Company’s wholly owned subsidiary, Lucid, the Company is also focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211203005309/en/

Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc.
Email: Zsaeed@fsdpharma.com
Telephone: (416) 854-8888
Investor Relations: Email: skilmer@fsdpharma.com, Website: www.fsdpharma.com

Source: FSD Pharma Inc.

Released December 3, 2021

FSD Pharma Unveils Videos Demonstrating Positive Effects of Lucid-MS in Treating Multiple Sclerosis in Pre-clinical Models (Mouse Models)

TORONTO–(BUSINESS WIRE)– FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today that it is sharing pre-clinical data, supported by an explanatory video, demonstrating the potentially disease-modifying effects of Lucid-MS, the Company’s lead drug candidate for the potential treatment of multiple sclerosis (“MS”), in the animal models of MS.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005259/en/

Based on more than a decade of research, Lucid-MS is a patented neuroprotective new chemical entity (“NCE”) that affects protein citrullination and myelin structure, which are associated with the severity of MS lesions. In order to demonstrate the unique potential therapeutic value of this Lucid-MS, the Company has released a video explaining its pre-clinical results, including visual evidence of functional recovery on pre-clinical subjects, which can be accessed here. You can also access the video at www.fsdpharma.com.

The featured study uses an Experimental Autoimmune Encephalitis (“EAE”) mouse model, a commonly used immune-mediated mouse model of MS. MS is typically characterized as an autoimmune disease. Ten days following immunization with the antigen, mice received 1 milligram of Lucid-MS or saline (placebo). Test subjects were monitored for 50 days and were continually assessed for clinical symptoms; those that received Lucid-MS demonstrated an improvement in clinical score, compared with subjects that received placebo. For example, on Day 42, one of the Lucid-MS-treated subjects demonstrated functional recovery with a score of 0.5, compared with a score of 3 on Day 3 (lower clinical score indicates better condition of the subject), and by the end of the study, the subject showed clinical signs similar to those in a healthy mouse (as seen in the video).

“Lucid-MS has demonstrated the potential to prevent the degradation and help re-establish myelin which is evidenced by the functional recovery of mice as well as immunohistochemistry in this study, and several other studies in preclinical animal models,” said Dr. Lakshmi P. Kotra, Ph.D., Chief Executive Officer of Lucid Psycheceuticals Inc. (“Lucid”), FSD Pharma’s wholly-owned subsidiary. “This effect holds good promise for further development as a potential treatment for MS, and the biochemical mechanism of Lucid-MS represents a potential industry first in treating MS. We are eager to advance Lucid-MS to the clinic as quickly as we can.”

FSD Pharma is also advancing the development of its other drug candidates, including Lucid-PSYCH, a psycho-active molecule targeted to treat Major Depressive Disorder, and FSD-PEA, an anti-inflammatory compound.

About FSD Pharma

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences”) is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Through the Company’s wholly owned subsidiary, Lucid, the Company is also focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.

Forward Looking Information

Certain statements contained herein are “forward-looking statements.” Often, but not always, forward-looking statement can be identified by the use of words such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “hopes”, “planned” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might”, “potentially” or “will” be taken, occur or be achieved. Forward-looking statements contained in this press release include the comments made with respect to the effects, value and advancement of the Company’s drug candidates, including the further development of drug candidates as a potential treatment for neurodegenerative and mental health disorders such as MS and Major Depressive Disorder, the significance of the Company’s drug candidates to the development of MS treatment in the industry and the Company’s expectations towards the advancement of its drug candidates to clinic. FSD cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Factors that may cause such material differences include without limitation: the fact that the drug development efforts of both Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain, and the drug product candidates of Lucid and FSD BioSciences may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of Lucid and FSD BioSciences; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of Lucid and FSD BioSciences; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected, or impacted by COVID-19 related issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of Lucid and FSD BioSciences; and other risks. Further information regarding factors that may cause actual results to differ materially are included in the Company’s annual and other reports filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov) under the heading “Risk Factors.” Any forward-looking statement contained in this release speaks only as of its date. The Company does not undertake to update any forward-looking statements, except to the extent required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211202005259/en/

Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc.
Email: Zsaeed@fsdpharma.com
Telephone: (416) 854-8888
Investor Relations: Email: FSDPharma@KCSA.com, skilmer@fsdpharma.com,
Website: www.fsdpharma.com

Source: FSD Pharma Inc.

Released December 2, 2021

FSD Pharma Expands Research And Clinical Advisory Board With Appointment Of World-renowned Immunologist And Cytokine Expert Dr. Eleanor N. Fish

TORONTO–(BUSINESS WIRE)– FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, today announced the appointment of Eleanor N. Fish, Ph.D., to its Research and Clinical Advisory Board.

Dr. Fish, an accomplished researcher in the areas of immunology and inflammatory disorders, and member of the Government of Canada’s Expert Scientific Panel to the Chief Scientific Advisor, brings key expertise to FSD Pharma that will support the continued development of FSD-PEA, the Company’s proprietary anti-inflammatory agent, and Lucid-MS, its drug candidate for the treatment of multiple sclerosis.

“I am delighted to welcome Dr. Eleanor Fish to our team,” said Dr. Lakshmi P. Kotra, B.Pharm. (Hons), Ph.D., Chief Executive Officer of Lucid Psycheceuticals Inc., FSD Pharma’s wholly-owned subsidiary. “A key aspect of Eleanor’s research is to better understand the onset and treatment of autoimmune diseases, such as multiple sclerosis and rheumatoid arthritis. Her expertise and insights will be extremely valuable as we continue to advance our FSD-PEA and Lucid-MS programs, and her decades of experience in translational research will greatly benefit FSD’s current and future pipelines.”

Dr. Fish serves as a Professor in the Department of Immunology at the University of Toronto; Associate Chair of International Initiatives and Collaborations at the University of Toronto; and Emerita Scientist at the Toronto General Hospital Research Institute of the University Health Network. She received a B.Sc. from the U.K.’s University of Manchester, an M.Phil. from King’s College at the University of London, and a Ph.D. from the Institute of Medical Sciences at the University of Toronto. Dr. Fish has received numerous international awards recognizing her scientific achievements and has authored more than 170 peer-reviewed scientific papers published in international journals.

“I am energized by this opportunity to assist FSD Pharma in advancing the development of its next- generation therapeutics in pursuit of a healthier world,” said Dr. Fish.

About FSD Pharma

FSD Pharma is a life sciences holding company with two wholly-owned subsidiaries dedicated to building a portfolio of diversified therapeutic assets and innovative healthcare and biotech services.

FSD BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing applications of its lead compound, ultramicronized PEA, by down-regulating the cytokines to effectuate an anti-inflammatory response.

Lucid Psycheceuticals Inc., a wholly-owned subsidiary, has exclusive worldwide rights to novel compounds shown to prevent and potentially reverse the biochemical mechanisms of progressive multiple sclerosis in multiple preclinical animal models. Additionally, FSD is seeking to develop a unique psychoactive (psychedelic-based) therapeutic aimed at addressing neurodegenerative disorders, a multibillion-dollar mental health market. The Company hopes to quickly advance its lead drug candidates through clinical trials.

Forward Looking Information

Certain statements contained herein are “forward-looking statements.” Often, but not always, forward-looking statement can be identified by the use of words such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “hopes”, “planned” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might”, “potentially” or “will” be taken, occur or be achieved. Forward-looking statements contained in this press release include the comments made with respect to advancing the Company’s research into Lucid-MS and LUCID-PSYCH toward the clinic, including the anticipated launch a Phase 1 clinical trial of Lucid-MS by the end of 2022, and the efforts to advance ultramicronized Palmitoylethanolamide and develop of applications therefor evaluation of the commercial viability of its principal drug compound. FSD cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Factors that may cause such material differences include without limitation: the fact that the drug development efforts of both Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain, and the drug product candidates of Lucid and FSD BioSciences may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of Lucid and FSD BioSciences; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of Lucid and FSD BioSciences; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected, or impacted by COVID-19 related issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of Lucid and FSD BioSciences; and other risks. Further information regarding factors that may cause actual results to differ materially are included in the Company’s annual and other reports filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov) under the heading “Risk Factors.” Any forward-looking statement contained in this release speaks only as of its date. The Company does not undertake to update any forward-looking statements, except to the extent required by applicable securities laws.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116005845/en/

Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc.
Email: Zsaeed@fsdpharma.com
Telephone: (416) 854-8888
Investor Relations: Email: ir@fsdpharma.com, Website: www.fsdpharma.com

Source: FSD Pharma Inc.

Released November 16, 2021