Massive Stock Price, News & Analysis

FSD Pharma Inc. (NASDAQ: HUGE) has appointed Gerry David to its Advisory Board. David, known for his transformative leadership at Celsius Holdings (NASDAQ: CELH), drove a 35-fold increase in shareholder value during his tenure. He is expected to leverage his extensive experience to enhance FSD Pharma's strategies, particularly in developing innovative solutions for alcohol misuse. The company is focused on advancing its pharmaceutical pipeline, including FSD201 for inflammatory diseases and other compounds targeted at mental health and neurodegenerative disorders. Investors may view this appointment as a positive step towards growth and commercialization of new products.

FSD Pharma Inc. (NASDAQ: HUGE) announced that its Australian subsidiary has received approval from The Alfred Ethics Committee for a Phase 1 clinical trial of Lucid-201, also known as Lucid-Psych, aimed at treating Major Depressive Disorder (MDD). This novel psychoactive compound may offer a new therapeutic option for MDD, which affects millions globally. The clinical team expresses optimism about its safety and tolerability. With a global antidepressant market projected to reach $21 billion by 2030, successful trial results could position FSD Pharma favorably within the growing mental health therapeutics sector.

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.