FSD Pharma Reports Second Quarter 2020 Financial Results

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

[{"type":"text","content":"FSD Pharma Reports Second Quarter 2020 Financial Results- Provides Business Update -TORONTO / ACCESSWIRE / August 7, 2020 / FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(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 June 30, 2020 have been filed and can be viewed on the Company's SEDAR profile at www.sedar.com.FSD Pharma also provided a business update:The Phase 1 first-in-human safety and tolerability study with ultramicronized-palmitoylethanolamide (\"FSD201\") was completed with no serious adverse effects reported.The Company filed a pre-IND meeting request package with the U.S. Food and Drug Administration (\"FDA\") for the treatment of COVID-19 patients and received FDA approval to design a Phase 2a clinical trial to treat COVID-19 patients. The study is expected to commence by year end 2020.In Q220, the Company continued to strengthen available cash on hand through the monetization and sale of its partial equity stake in Pharmadrug Inc. and the raise of C $10.125M through a private placement to institutional investors.The Company recently announced a US $20M at-the-market offering, the closing of a US $10M registered direct offering to institutional investors, and the voluntary surrender to Health Canada of its medicinal cannabis grow license and the shutdown of subsidiary FV Pharma, Inc.About FSD PharmaFSD Pharma Inc. is a publicly-traded holding company, since May 2018.FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its lead compound, ultramicronized-palmitoylethanolamide (\"FSD201\"), by down-regulating the cytokines to effectuate an anti-inflammatory response.Forward-Looking StatementsNeither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this press release.Certain statements contained in this press release constitute \"forward-looking information\" and \"forward-looking statements\" within the meaning of applicable Canadian and U.S. securities laws (collectively, \"Forward-Looking Information\"). Forward-Looking Information includes, but is not limited to, information with respect to FS...

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