FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, has announced a share repurchase program. The company’s board of directors approved the repurchase under a normal course issuer bid; the bid is comprised of up to 1,925,210 of HUGE subordinate class B voting shares over the next 12 months at prevailing market prices. The program will enable the company to use excess cash reserves in strategic ways designed to return value to shareholders. “FSD Pharma is focused on the advancement of its drug candidates toward the clinic, and we recognize there may be a strategic opportunity to enhance shareholder value without compromising our ambitious growth plans,” said FSD Pharma interim CEO Anthony Durkacz in the press release. “We believe that our stock is significantly undervalued. This will allow us to continue investing in our future, while, at the same time, also investing in the exceptional value that our own shares represent.”
To view the full press release, visit https://ibn.fm/ql6Fp
About FSD Pharma Inc.
FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences Inc., a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound FSD201, a proprietary ultramicronized palmitoyl ethylamine (“PEA”) for the treatment of inflammatory diseases. Lucid Psycheceuticals Inc. is a wholly owned subsidiary focused on the research and development of its lead compounds: Lucid-PSYCH and Lucid-MS. Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders; expanding this category, the company is investigating other products addressing acute medical needs due to drugs of abuse such as alcohol. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. For more information about the company, please visit www.FSDPharma.com.
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