FSD Pharma Announces Phase 2 Clinical Trial IND Filing with the FDA to Treat Patients with COVID-19

About this update from Quantum Biopharma Ltd. Subordinate Voting Shares Class B

[{"type":"text","content":"FSD Pharma Announces Phase 2 Clinical Trial IND Filing with the FDA to Treat Patients with COVID-19- The study is expected to be conducted at 25-30 hospitals in North America -TORONTO, ON / ACCESSWIRE / August 31, 2020 / FSD Pharma Inc. (CSE:HUGE)(NASDAQ:HUGE)(FRA:0K9A) (\"FSD Pharma\" or the \"Company\") today announced that it has submitted to the U.S. Food and Drug Administration (\"FDA\") an Investigational New Drug Application (IND) for the use of FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus (the \"FSD201 COVID-19 Trial\"). Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. As previously announced, FSD Pharma is focused on developing FSD201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.COVID-19 Trial DesignThe FSD201 COVID-19 Trial will be a randomized, controlled, double-blind, multicenter study, conducted at 25-30 sites in North America to assess the efficacy and safety of FSD201 dosed at 600mg or 1200mg twice-daily, together with standard of care (\"SOC\") compared to SOC alone in hospitalized patients with documented COVID-19 disease.Issuance of Share-Based Compensation and Early Warning Disclosure for Dr. Raza Bokhari, Executive Co-Chairman & CEO Further to our news release dated July 31, 2020, the Board of Directors has authorized the issuance of an additional 369,255 class B subordinate voting shares (\"Class B Shares\") to certain of the Company's directors, officers, employees and consultants as share-based compensation.As will be more particularly described in an early warning report to be filed under the Company's SEDAR profile, on August [26], 2020, Dr. Raza Bokhari acquired 805,802 Class B Shares in lieu of cash compensation for his services as Chief Executive Officer and Executive Co-Chairman of the Company. As a result, Dr. Bokhari now beneficially owns, or has control or direction over, in aggregate, approximately 8.5% of the issued and outstanding Class B Shares (on a non-diluted basis). Dr. Bokhari also continues to hold 33.3% of the Company's outstanding class A multiple voting shares (together with the Class B Shares, the \"FSD Shares\"). In aggrega...

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