FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) 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. The company today announced that in a cost award decision dated May 6, 2023, the Honorable J. Douglas Cunningham, K.C. (“Justice Cunningham”) ruled in favor of FSD Pharma, awarding the company approximately $2.81 million all in Canadian dollars costs of arbitration in the arbitration between FSD Pharma and its former CEO Dr. Raza Bokhari. In July 2021, the board of directors for FSD Pharma unanimously voted to terminate the employment of Dr. Bokhari as chief executive officer for cause. Dr. Bokhari subsequently brought a wrongful dismissal claim against FSD Pharma by way of arbitration, which was dismissed in its entirety by Justice Cunningham in a merits award dated Nov. 9, 2022. In the merits award, Justice Cunningham also held Dr. Bokhari responsible for FSD Pharma’s costs of the arbitration.
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About FSD Pharma Inc.
FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences Inc., a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, FSD201, a proprietary ultra-micronized PEA formulation, for the treatment of inflammatory diseases. Lucid Psychss Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-Psych and Lucid-MS. Lucid-Psych is a molecular compound identified for the potential treatment of mental health disorders, and expanding this category, the company is investigating other products addressing acute medical needs due to the abuse of drugs such as alcohol. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. For more information, visit the company’s website at www.FSDPharma.com.
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