Massive Stock Price, News & Analysis

FSD Pharma Inc. (NASDAQ: HUGE) has renewed its service agreement with ShareIntel to investigate suspected naked short selling of its stock. This illegal practice creates artificial shares and has raised concerns among shareholders due to discrepancies seen in buying and selling data. Despite numerous requests for clarification from broker-dealers, responses have been unsatisfactory, prompting the company to explore legal avenues. FSD Pharma is committed to ensuring shareholder transparency and has called for regulatory action against these manipulative practices. The company aims to leverage ShareIntel's analytics for uncovering bad actors.

FSD Pharma Inc. (NASDAQ:HUGE) has appointed Kevin Harrington, a prominent entrepreneur and former 'Shark Tank' investor, to its Advisory Board. Harrington, known for creating the modern infomercial, has launched over 20 businesses each exceeding $100 million in sales. His experience includes opening distribution in over 100 countries, providing FSD Pharma with valuable branding and marketing insights. Harrington aims to leverage his extensive network to expand the company's reach and enhance its product development, particularly in therapeutics addressing alcohol misuse. FSD Pharma's stock is currently trading at $1.80.

FSD Pharma (NASDAQ: HUGE) announces the addition of Kevin Harrington to its Advisory Board, aimed at enhancing strategic guidance for the company's R&D initiatives, particularly in addressing alcohol misuse. Harrington, notable as a pioneer in the marketing space and co-founder of the Entrepreneurs’ Organization, brings extensive business acumen, having launched over 20 companies generating sales above $100 million. FSD Pharma is advancing its pipeline of therapeutics targeting neurodegenerative and inflammatory disorders. The company also issued 500,000 stock options at C$2.45, with warrants for 1,000,000 shares priced between $1.75 and $8.00.

FSD Pharma (NASDAQ: HUGE) has released a new corporate video aimed at providing insights into its innovative efforts to assist those suffering from Multiple Sclerosis (MS). The company will present at the ACTRIMS 2023 Forum from February 23-25 in San Diego, showcasing its candidate drug Lucid-21-302, which has received Health Canada's approval for a Phase 1 clinical trial. A recent Morningstar report indicates that HUGE has outperformed its peers and is rated 4 stars, with a fair value of CDN$4.58. The report also shows strong bullish sentiment across various timeframes. FSD has also engaged Independent Trading Group for market-making services.

FSD Pharma Inc. (NASDAQ: HUGE) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, following a notification from Nasdaq. The compliance issue arose on September 27, 2022, due to the stock's failure to meet the price criteria for 30 consecutive business days. On February 14, 2023, it was confirmed that the stock maintained the required bid price for the last 10 business days, thus resolving the compliance matter. FSD Pharma focuses on developing innovative biotech solutions for neurodegenerative, inflammatory, and metabolic disorders.

FSD Pharma Inc. (NASDAQ: HUGE) has launched a new research and development program targeting unmet medical needs for alcohol misuse. This initiative aims to enhance treatment options for patients, particularly those presenting with alcohol intoxication in emergency rooms, which often strains healthcare resources. The company has expanded its Scientific and Clinical Expert Committee by inviting renowned experts in the field. Additionally, FSD Pharma plans to issue common share purchase warrants amounting to 800,000 shares at an exercise price between $1.50 and $4.50. This program builds on FSD Pharma’s existing pipelines focused on brain and inflammatory disorders.

FSD Pharma announced the receipt of a No Objection Letter from Health Canada for its proposed Phase 1 clinical trial of LUCID-21-302 (Lucid-MS), aimed at treating Multiple Sclerosis. This approval allows the company to advance its clinical investigations in Canada. Lucid-MS has undergone over 11 years of R&D and is noted for its neuroprotective properties without immunomodulatory effects. The global Multiple Sclerosis market is expected to grow from $22.99 billion in 2018 to $28.0 billion by 2026. Currently, FSD Pharma shares trade at US $1.38.

FSD Pharma Inc. has received a No Objection Letter from Health Canada, enabling the commencement of its Phase 1 clinical trial for LUCID-21-302 (Lucid-MS), a novel treatment for Multiple Sclerosis (MS). This trial aims to assess the safety and tolerability of Lucid-MS, a patented compound developed over 11 years, which has shown potential to prevent myelin degradation in preclinical studies. According to the MS International Foundation, the global MS therapies market is projected to grow from $22.99 billion in 2018 to $28.0 billion by 2026, highlighting the significant demand for innovative MS treatments.

FSD Pharma Inc. (NASDAQ: HUGE) is recruiting for its Phase 2 clinical trial of FSD201, aimed at treating chronic pain associated with idiopathic MCAS. The trial will enroll 60 patients at US sites, with a Canadian site to join soon. FSD201, a proprietary anti-inflammatory compound, successfully completed Phase 1 trials. The study's primary goal is a 30% reduction in pain intensity from baseline to day 28. FSD201 has also received new molecular entity (NME) designation for potential regulatory advantages. The company is focusing on providing innovative treatments for underrepresented conditions.