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FSD Pharma gets nod to uplist on Nasdaq

The move will enhance the Canadian company’s visibility and increase the liquidity of the stock

FSD Pharma -
PP 101 is the firm's pre-clinical drug candidate for the treatment of symptoms related to fibromyalgia, a disorder characterized by widespread musculoskeletal pain

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF), a specialty pharmaceutical research company focused on cannabinoids, scored a major milestone Monday by receiving approval to uplist on the tech-laden Nasdaq. 

In a statement, the Canadian company said that it received approval to have its Class B subordinate voting shares listed on Nasdaq and expects to start trading in the “near future.”

FSD Pharma is focused on the research and development of cannabinoid-based treatments for several central nervous system disorders including fibromyalgia, and irritable bowel syndrome.

READ: FSD Pharma to initiate Phase 1 safety trials for its lead drug candidate PP 101 micro-PEA in 1Q 2020

Headquartered at the former Kraft plant in Cobourg, Ontario, with large expansion potential, FSD also grows medical-grade cannabis at its 25,000 square foot facility in Ontario.

Through its wholly-owned subsidiary FV Pharma Inc, the group is a licensed producer under Canada's Cannabis Act, having received its cultivation license in October 2017 and its sale for medical purposes license in April 2019. 

FSD Pharma not only focuses on the development of high-quality, indoor-grown, pharmaceutical-grade cannabis. But it intends to target all legal aspects of the cannabis industry: cultivation, processing, manufacturing, extracts and research and development.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Quick facts: FSD Pharma

Price: 2.38 CAD

CSE:HUGE
Market: CSE
Market Cap: $45.6 m
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