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FSD Pharma starts trading on Nasdaq

The move will expand awareness of its lead asset, micro-PEA, a micronized formulation of palmitolylethonalamide

FSD Pharma - FSD Pharma to start trading on Nasdaq
CEO Raza Bokhari said a Nasdaq listing 'elevates' the company’s corporate profile and makes it more attractive to institutional investors

FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE), a specialty pharmaceutical research company focused on cannabinoids, started trading Thursday on the tech-laden Nasdaq. 

The Canadian company is trading under the ticker symbol “HUGE.” The company’s Class B subordinate voting shares continue to trade on the Canadian Securities Exchange under the same symbol. 

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

“The listing of our shares on the Nasdaq capital market is a momentous moment and represents a paradigm shift in the outlook of FSD Pharma,” said FSD Pharma CEO Raza Bokhari.

“Doing so offers us an opportunity to expand awareness of the company's specialty pharmaceutical lead asset, a micronized formulation of palmitolylethonalamide (micro-PEA), which by targeting the CB2 receptor of the endocannabinoid system of the human body, may help address the opioid crisis by developing opioid-sparing, FDA-approved prescription drugs,” he added.

Dr Bokhari added that a Nasdaq listing “elevates” the company’s corporate profile and makes it more attractive to institutional investors.

The FSD Pharma boss is slated to make a presentation at the Biotech Showcase 2020 in San Francisco on January 13 at 3.30 pm PT. He will highlight recent strides made to transform FSD Pharma into a specialty pharmaceutical R&D company.

Dr Bokhari and FSD Pharma executives will also meet with global investors during the three-day 38th Annual JP Morgan Healthcare Conference in San Francisco starting on January 13.

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 as it plans 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: 5.01 CAD

CSE:HUGE
Market: CSE
Market Cap: $51.09 m
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