BioMedNewsBreaks – FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A) Featured in InvestmentPitch Media Video

Company: FSD Pharma Inc. (HUGE)
Category: News

FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, has closed the sale of non-core assets for $16.4 million. This news and additional information about the company was featured in an InvestmentPitch Media video, available for viewing on InvestmentPitch and YouTube or by visiting www.InvestmentPitch.com and entering “FSD Pharma” in the search box. Anthony Durkacz, interim CEO and co-executive chairman of FSD Pharma, said of the move: “This is a major accomplishment and puts us in a good position going forward especially considering the current state of the capital markets. While most companies have taken huge write-downs on dispositions of cannabis-related assets, we were able to net significant profit from selling the facility. Combined with our existing cash on hand, we are sufficiently capitalized for operations through 2025, inclusive of budget allocations for planned clinical trials and without having to look to the capital markets for any additional funds. Our cash position now exceeds our market capitalization, as we continue to work toward building value for our shareholders.”

To view the full press release, visit https://ibn.fm/c9utc

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, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc., 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. For more information, visit the company’s website at www.FSDPharma.com.

About BioMedWire

BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.

To receive SMS text alerts from BioMedWire, text “Biotech” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.BioMedWire.com

Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer

BioMedWire (BMW)
San Francisco, California
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com

BioMedWire is part of the InvestorBrandNetwork

BioMedWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 415.949.5050