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FSD Pharma Reports First Quarter 2020 Financial Results
FSD Pharma Reports First Quarter 2020 Financial Results Canada NewsWire TORONTO,...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"\n\n\n\nFSD Pharma Reports First Quarter 2020 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 14, 2020\n\n\n\nProvides Business Update\n TORONTO, May 14, 2020 /CNW/ - FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (\"FSD Pharma\" or the \"Company\") today reported that management's discussion and analysis of financial condition and results of operations (\"MD&A\") for the three months ended March 31, 2020 have been filed and can be viewed on the Company's SEDAR profile at www.sedar.com. \n\n \n \n \n \n \n \n\n \nFSD also provided an update on its primary business efforts:\nThe Phase 1 first-in-human safety and tolerability study with ultra micro-palmitoylethanolamide (\"FSD201\") in Australia is progressing. To date, three single ascending dose cohorts have been completed. FSD201 has been well tolerated with no serious adverse events reported. The Company anticipates that the clinical portion of the study will be completed before the beginning of Q320.FV Pharma, a licensed producer under Canada's Cannabis Act and Regulations and a wholly-owned subsidiary of the Company, continues to operate at a scaled back level due to the COVID-19 pandemic. The facility's medical cannabis license remains in good standing. It is fulfilling weekly shipments to its existing customers and continues to maintain its genetics library.In Q120 the Company initiated efforts to strengthen available cash on hand. It realized more than C$7.7 million by liquidating its equity interest in Cannara Biotech (CSE: LOVE). It has also listed its real estate asset in Cobourg, Ontario for sale and has filed for a mixed shelf registration for up to C$100 million.About FSD Pharma\nFSD Pharma Inc. (Nasdaq: HUGE; CSE: HUGE.CN; FRA: 0K9A) is a publicly traded holding company, since May 2018.\nFSD BioSciences Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA-approved synthetic compounds targeting the endocannabinoid sys...