cannabis

Posts, updates and videos about cannabis – updated automatically.

HUGE rings the bell at NASDAQ

This is a huge step for FSD Pharma:

 

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Seasoned Healthcare Executive and Academic Luminary Larry Kaiser, MD, Joins FSD Pharma Board of Directors

FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced that it has appointed Larry Kaiser, MD, FACS to its Board of Directors, effective immediately. Dr. Kaiser will also continue to serve as the Chairman of FSD Pharma’s Scientific Advisory Board (SAB).

Dr. Kaiser is currently the Managing Director with the Healthcare Industry Group at Alvarez and Marsal, a leading global professional services firm. Most recently, Dr. Kaiser was the President and CEO of the $2.2 billion Temple University Health System (“Temple”), Dean of Temple University’s Lewis Katz School of Medicine, and Senior Executive Vice President for Health Sciences at Temple University. Among his many accomplishments at Temple was the acquisition of the Fox Chase NCI-designated Comprehensive Cancer Center, the development of a number of programs, including the number one lung transplant program in the country, a nationally recognized program in pulmonary hypertension, in addition to growing programs in cardiovascular surgery, thoracic surgery, neurosurgery, and orthopedic surgery. Before joining Temple University in 2011, Dr. Kaiser served as the President of the University of Texas Health Science Center at Houston, the largest of six health-related campuses at the University of Texas.

“With decades of academic and senior executive experience in medicine and the delivery of healthcare in the United States, Dr. Kaiser brings substantial depth and strength to our Board of Directors,” said Raza Bokhari, MD, Executive Co-Chairman and CEO of FSD Pharma. “Dr. Kaiser has already contributed immensely as Chairman of our world-class Scientific Advisory Board, where his input has been very meaningful in shaping our Biosciences strategy to focus on assembling synthetic compounds that target the CB2 receptors of the endocannabinoid system of the human body. As a Director, we are relying on his leadership and sage counsel as we continue to double down on our Biosciences effort to eventually bring to market prescription-based drugs by conducting rigorous FDA-approved clinical trials.”

Dr. Kaiser stated, “I am truly honored to join the outstanding leadership group that Dr. Bokhari has assembled at FSD Pharma. I am impressed with the entrepreneurial spirit that this company brings and look forward to a number of exciting developments in the months to come. It is a privilege to work with a group so committed to building a successful and innovative company based on the foundation created by its founders.”

Dr. Kaiser graduated AOA (Alpha Omega Alpha Honor Medical Fraternity) from the Tulane University School of Medicine in 1977 and completed his residency in general surgery as well as a fellowship in surgical oncology at the University of California, Los Angeles. He then completed a residency in cardiovascular and thoracic surgery at the University of Toronto. Following that, he held positions as attending thoracic surgeon at Memorial Sloan-Kettering Cancer Center and Assistant Professor of Surgery at Cornell University Medical College (both New York City) and subsequently as Associate Professor (with tenure) at the Washington University School of Medicine (St. Louis). At the University of Pennsylvania, Dr. Kaiser held a variety of positions, including chief of general thoracic surgery, founder and director of the university’s lung transplantation program, director of its Center for Lung Cancers and Related Disorders, and co-director of the Thoracic Oncology Laboratory. In 2001, following a national search, he was named the John Rhea Barton Professor and Chair of the Department of Surgery as well as Surgeon in Chief for the University of Pennsylvania Health System. In 1997, Dr. Kaiser was named as the first recipient of the Eldridge Eliason Professorship of Surgery endowment at the Perelman School of Medicine at the University of Pennsylvania.

Dr. Kaiser is author or co-author of 17 books and more than 300 original papers, and he serves on multiple editorial boards, including the Annals of Surgery, the world’s leading surgical journal, the American Journal of Surgery, and the European Journal of Cardiothoracic Surgery. Dr. Kaiser has served in a number of leadership capacities for professional societies and associations and has been a director of both the American Board of Surgery and the American Board of Thoracic Surgery. In 2005, he was elected to the National Academy of Medicine.

About FSD Pharma

FSD Pharma is a specialty biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA-approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract, and the musculoskeletal system.

Through its acquisition of Prismic Pharmaceuticals in Q2 2019, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid-sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (PEA). The Company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during 1Q20.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017, and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Cautionary Note Regarding Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this 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 FSD Pharma’s strategy, plans or future financial or operating performance, receipt of any U.S. Food and Drug Administration (“FDA”) approvals, development of any FDA approved synthetic compounds, the successful treatment of diseases by such compounds, the ability to address the opioid crisis, the development of opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (“PEA”), the intention and timing of the initiation of Phase 1 first-in-human safety and tolerability trials for PP 101 micro-PEA, maintenance of FSD Pharma’s Cannabis Act License, the ability to cultivate and sell cannabis produced in FSD Pharma’s facility. The use of words such as “budget”, “intend”, “anticipate”, “believe”, “expect”, “plan”, “forecast”, “future”, “target”, “project”, “capacity”, “could”, “should”, “focus”, “proposed”, “scheduled”, “outlook”, “potential”, “estimate” and other similar words, and similar expressions and statements relating to matters that are not historical facts, or statements that certain events or conditions “may” or “will” occur, are intended to identify Forward-Looking Information and are based on FSD Pharma’s current beliefs or assumptions as to the outcome and timing of such future events. Such beliefs or assumptions necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such ForwardLooking Information. ForwardLooking Information is not a guarantee of performance. The Forward-Looking Information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any Forward-Looking Information, whether as a result of new information, future events or otherwise, except as required by law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on Forward Looking-Information. The foregoing statements expressly qualify any Forward-Looking Information contained herein.

SOURCE FSD Pharma Inc.

For further information: Sandy Huard, Head of Communications, FSD Pharma, Inc., sandy@fsdpharma.com, (647) 864-7969; Investor Relations: IR@fsdpharma.com, www.fsdpharma.com; Or LHA Investor Relations, Sanjay M. Hurry, shurry@lhai.com, (212) 838-3777

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FSD Pharma to Ring Nasdaq Opening Bell on Wednesday, January 22, 2020

FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”) is pleased to announce that Executive Co-Chairman and CEO Dr. Raza Bokhari, along with the founders, members of the Company’s Board of Directors, members of the leadership team, early investors, advisors, and other stakeholders, will ring the Nasdaq Stock Market opening bell on Wednesday, January 22, 2020, at 9:30 am ET.

The Opening Bell Ringing Ceremony will be held at Nasdaq’s MarketSite in New York City and will be webcast live beginning at 9:20 am ET via the following link: https://www.nasdaq.com/marketsite/bell-ringing-ceremony and live streaming will be available on Facebook at the following link: http://Facebook.com/Nasdaq.

“It will indeed be a unique privilege for me to ring the opening bell at Nasdaq to commence trading in the presence of FSD Pharma’s extended family and friends,” said Raza Bokhari, MD, Executive Co-Chairman and CEO. “The recent listing of our Class B Subordinate Voting Shares on Nasdaq has included us in a select group of 12 Canadian-domiciled cannabis companies that trade on a major U.S. exchange. I am, however, very hopeful that sooner rather than later we will  be placed in a league of our own as we continue to demonstrate that the primary thrust of our business is to focus on conducting clinical trials on synthetic compounds with anti-inflammatory properties that target the CB2 receptor of the endocannabinoid system of the human body.”

About FSD Pharma

FSD Pharma is a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.

Through its acquisition of Prismic Pharmaceuticals in Q2 2019, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (PEA). The Company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during 1Q20.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release, including statements relating to the Company’s expectations regarding the Shares being listed on Nasdaq and the timing of commencement of the Shares trading on Nasdaq, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE FSD Pharma Inc.

For further information: Sandy Huard, Head of Communications, FSD Pharma, Inc., sandy@fsdpharma.com, (647) 864-7969; Investor Relations, IR@fsdpharma.com, www.fsdpharma.com; Or LHA Investor Relations: Sanjay M. Hurry, shurry@lhai.com, (212) 838-3777

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HUGE on NASDAQ

FSD Pharma began trading today on the NASDAQ exchange in the United States. It is one of only about a dozen Canadian cannabis companies to have been allowed to list on the NASDAQ.

I have a piece up at Seeking Alpha on the company, its pursuit of the pharmaceutical end of cannabis and a surprising fact about its founders. You can read it here.

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FSD Pharma to Commence Trading on Nasdaq Capital Market Under Symbol ‘HUGE’

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FSD Pharma to Begin Trading on the NASDAQ Capital Market Under Symbol ‘HUGE’ on January 9, 2020

 FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) today announced that its Class B Subordinate Voting Shares (the “Shares”) have been approved for listing on the NASDAQ Capital Market (“NASDAQ”) under the symbol ‘HUGE’. Trading on the NASDAQ is expected to commence at market open on Thursday, January 9, 2020.

The Company’s Shares will continue to be listed on the Canadian Securities Exchange under the symbol ‘HUGE’.

“As we announce this much anticipated and coveted milestone, I want to congratulate the FSD Pharma team, our stakeholders, and, most importantly, our shareholders. I also want to extend my gratitude to the members of the Board of Directors of FSD Pharma, and especially to the founders of the Company, for their vision and for giving me an opportunity to lead the FSD Pharma team to achieve this strategic advantage. It is exciting to realize that once we begin trading on NASDAQ, we will be included in a select group of 12 Canadian-domiciled cannabis companies trading on either the NYSE or NASDAQ, and the first company in the history of the Canadian Securities Exchange (CSE) to be dual-listed on a major U.S. exchange,” stated Raza Bokhari, MD, Executive Co-Chairman and CEO.

About FSD Pharma

FSD Pharma is a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.

Through its acquisition of Prismic Pharmaceuticals in Q2 2019, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (PEA). The Company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during 1Q20.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release, including statements relating to the Company’s expectations regarding the Shares being listed on Nasdaq and the timing of commencement of the Shares trading on Nasdaq, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE FSD Pharma Inc.

For further information: Sandy Huard, Head of Communications, FSD Pharma, Inc., sandy@fsdpharma.com, (647) 864-7969; Investor Relations: IR@fsdpharma.com, www.fsdpharma.com, Or LHA Investor Relations, Sanjay M. Hurry, shurry@lhai.com, (212) 838-3777

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FSD Pharma Strengthens Management Team

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) today announced the appointments of three key executives: Donal Carroll, Chief Financial Officer. Mr. Carroll previously served as interim CFO; Sandra Lottes, Pharm D, Vice President & Head of Clinical Research of FSD Pharma’s BioSciences Division; and Shahzad Shah, Chief Operating Officer of FV Pharma.

“We are very excited to have Mr. Donal Carroll transition into a permanent leadership role and are thrilled to welcome Dr. Sandra Lottes and Mr. Shahzad Shah to the FSD Pharma executive team, as we begin to write the next chapter of FSD Pharma in the new year,” said Raza Bokhari, MD, Executive Co-Chairman and CEO. “Mr. Carroll has been the interim CFO since July 2018 and has a deep understanding of our core business and strategic outlook to transform FSD Pharma into a specialty pharmaceutical R&D company. We couldn’t be more fortunate for Donal to accept the role of the full-time CFO, as we prepare to begin trading on the Nasdaq Capital Market soon.

“Dr. Lottes brings to FSD Pharma almost three decades of pharmaceutical, contract research organization, and healthcare industry experience. Her expertise spans the drug development, commercialization and product lifecycle continuum that makes her an important and timely addition to the FSD Pharma Biosciences team as we prepare to launch Phase 1 human safety trials for our lead candidate, PP 101 micro-PEA.

“Mr. Shah has a proven track record of bringing discipline and operational efficiency to organizations. I have worked with Shahzad in the past and I expect his experience to strike the right balance between market realities and investor expectations from FV Pharma, our wholly owned subsidiary focused on cultivating, processing and selling medicinal grade cannabis.”

Donal Carroll
An experienced business executive, Donal Carroll has 20 years of corporate finance leadership and public company experience, as well as deep expertise in syndicate investing both in equity and debt securities. With a balance of prudent financing practices and business insights, Mr. Carroll has successfully guided companies through expansion and growth.

Carroll was previously with Danaher, Alberto Culver (now Unilever (NYSE:UL) and Cardinal Meats, where he was instrumental in major restructuring activities, mergers and acquisitions and the implementations of new internal controls and ERP systems resulting in significant efficiencies through periods of substantial change and strong company growth. Carroll has been a Director of Bird River Resources Inc., since September 15, 2017. He also serves on the Board of Directors of World-Class Extractions (CSE: PUMP), where he is the Chairman of the Audit Committee.

He holds a CPA-CMA designation as well as a Bachelor of Commerce degree from University College Dublin.

Dr. Sandra Lottes
Dr. Lottes possesses nearly 30 years of leadership experience in the pharmaceutical, CRO and healthcare industries with extensive multi-disciplinary drug development experience at the program, compound and portfolio levels, expanding across R&D, clinical operations, regulatory affairs, business development and medical affairs. She has held a number of senior executive positions within the pharmaceutical and CRO industries, most recently as Vice President of Global Clinical Development and Operations at United Biosource Corporation, a subsidiary of Express Scripts Inc. (inclusive of legacy Medco Health Solutions), and served as a key member of ESI Pharma Services leadership team, responsible for the largest business unit across multiple global offices.

Dr. Lottes earned an undergraduate degree in biology from the University of Delaware and her doctorate from the Philadelphia College of Pharmacy & Science; she completed her post-doctorate fellowship in cardiovascular pharmacology at Hahnemann University Medical College. Dr. Lottes’ clinical expertise spans the drug development, commercialization and product lifecycle continuum, from early phase registrational research to post-marketing development, including several cardiovascular and GI blockbuster drugs, with a focus on real-world, practical solutions. Sandra has authored many journal articles, abstracts and blogs, and has served on advisory boards in cardiology, gastroenterology, nephrology and biosimilars.

Shahzad Shah
Mr. Shah is a seasoned executive with nearly three decades of executive leadership experience working for public and private corporations in North America. He brings a wealth of experience, with particular strengths in areas such as building results-oriented teams that have turned around existing companies, assembled teams that have launched successful companies in North America, planned both financial and operational strategies and was part of the leadership team that crafted and executed strategy for a $2 billion organization.

In his various executive roles, he has managed and driven continuous improvement initiatives for multifacility divisions across North America introducing Lean Methodologies and sharing best practices. In his last role he was responsible for overseeing continuous improvement initiatives and managed a P&L of $500 million in revenue.

Shah holds an MBA from Queen’s University, Kingston Ontario, Engineering and Human Resources diplomas from Humber CollegeToronto, Ontario, and Master Lean Six Sigma Black Belt from York University. He also holds designation of Certified Management Consultant from the Canadian Association of Management Consultants.

About FSD Pharma

FSD Pharma  is a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.

Through its acquisition of Prismic Pharmaceuticals in Q2 2019, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (PEA). The Company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during 1Q20.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release, including statements relating to the Company’s expectations regarding the Shares being listed on Nasdaq and the timing of commencement of the Shares trading on Nasdaq, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE FSD Pharma Inc.

For further information: Sandy Huard, Head of Communications, FSD Pharma, Inc., sandy@fsdpharma.com, (647) 864-7969; Investor Relations, IR@fsdpharma.com, www.fsdpharma.com, Or LHA Investor Relations, Sanjay M. Hurry, shurry@lhai.com, (212) 838-3777

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FSD Pharma Approved To List On Nasdaq

FSD Pharma (OTCQB:FSDDFreleased news this morning that its shares had been approved for listing on the Nasdaq exchange. Big news for a company which, to date, was seen primarily as a Canadian venture. The Nasdaq listing reflects the company’s ongoing commitment to the American pharmaceutical market.

A little over a year ago I interviewed Anthony Durkacz, co-chair of FSD Pharma (C.HUGE). It was just before “peak pot” in the Canadian stock market with the legalization of recreational marijuana only a few weeks away.

When we spoke the business plan of most of the players in the Canadian cannabis market was, “Build the biggest grow operation you can, sell to the giant recreational market which will emerge with legalization.” It turned out that this was not actually a formula for a profitable enterprise. In fact, the profits lay in business plans which added real value.

Durkacz told me, “The pharmaceutical market is much bigger than the recreational marijuana market. A single medicine can have a value over 7 billion dollars (the estimated size of the Canadian recreational market) but there are many different medicines for many different health ailments so compared to the recreational market it is huge.”

While big name cannabis companies announced ever-larger grow facilities for the recreational market and saw ever-higher share prices as investors jumped on the bandwagon, FSD took a strikingly different approach. While the company built a grow facility in its Cobourg, Ontario plant, that facility is a modest 25,000 square feet (with plenty of room for expansion).

Where the big-name Canadian cannabis companies rushed to grow product in bulk for the recreational market, FSD was actively exploring the value add opportunities in the pharmaceutical space. Along the way, FSD brought on pharma entrepreneur Dr Raza Bokhari as co-Chairman and CEO. It hired a number of Ph.D.s and Medical doctors to actively evaluate and research pharmaceutical uses for cannabinoids.

In July of 2019, FSD acquired Prismic Pharmaceuticals Inc. a US-based speciality pharmaceutical company dedicated to developing novel non-addictive prescription drugs for the treatment of pain and inflammation. Commenting on this acquisition, Dr. Bokhari said, “the Prismic acquisition represents strategic depth in the vision and mission of FSD Pharma and signals a paradigm shift in the overall outlook of the company. We are relying heavily on the expertise of Dr. Brennan (President, FSD Pharma BioSciences Division), who is a seasoned pharmaceutical industry veteran with substantial experience from working at Glaxo Smith Kline and Johnson & Johnson to navigate us through the various stages of the FDA approval process for drug development, with the goal of eventually making synthetic cannabinoid prescription medications available for commercial use to help alleviate the pain and suffering of patients.”

That paradigm shift included a focus on the emerging American cannabis market with research operations being undertaken in Philadelphia and a number of new American directors with business and political expertise appointed to the Board.

FSD Pharma founding director Durkacz said in our motherlodetv.net interview, “Looking ahead we see the greenhouse, outdoor recreational market as a race to zero. Pharma is going to be bigger than recreational, a lot bigger.”

The FSD Pharma pivot away from recreational cannabis toward pharmaceuticals and its focus on the US as the largest pharma market in the world was, and is, all about having an actual business strategy from the very outset. While the company certainly benefited from the cannabis legalization stock market euphoria, it avoided the mal-investment in grow ops for grow op’s sake which is now such a burden on the Canadian cannabis patch.

Avoiding over-investing in grow ops was a very shrewd strategy. How shrewd? Well, as predicted, the bottom fell out of the Canadian recreational market due to a combination of inept government regulation, wildly dysfunctional marketing and retail rules and, frankly, a huge oversupply of the product. How huge? In July of 2019 just 4% of the marijuana produced in Canada was sold. The rest, 96%, went into “inventory”.

The Canadian cannabis stock market sold off massively and without regard to the quality of the companies involved. Capital has become difficult, if not impossible, to raise for the majority of the Canadian cannabis companies. Even the introduction of edibles has largely failed to make much impact on the Canadian cannabis stocks.

Like many other Canadian cannabis companies, FSD took a huge hit to its share price. It consolidated its shares but it has fallen from a high of $84 a share at the peak of the bubble to $5.80 prior to today’s announcement. But, unlike many Canadian cannabis companies it has been able to access capital raising $4.5 million in a private “premium” placement, the second tranche of which closed November 4, 2019, led by its own management and directors.

Through the turmoil, FSD has remained focussed on its pharmaceutical game plan. So focused that CEO Bokhari was able to announce “During the third quarter, we continued to advance our efforts to transform into a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.”

“The company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during first quarter 2020.”

The company has also reported in November that so far in its fourth quarter it had sold over $260,000 worth of medical-grade cannabis produced at its Cobourg facility.

With cash on hand, a 60 million dollar portfolio of investments in closely related, equally focused, Canadian cannabis companies and direct ownership of an American pharma subsidiary, FSD is poised to benefit from the opportunities in the American cannabinoid pharmaceutical market.

With the announcement of its NASDAQ listing, FSD has moved into an entirely different tier of cannabis companies.

(note: a version of this story appears at Seeking Alpha here.)

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FSD Pharma Receives Approval to List its Shares on Nasdaq

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) announces that Nasdaq has approved its application to have its Class B Subordinate Voting Shares (the “Shares”) listed on the Nasdaq Capital Market (“Nasdaq”). FSD Pharma expects the Shares to commence trading on Nasdaq in the near future.

About FSD Pharma

FSD Pharma is a specialty, biotech pharmaceutical R&D company focused on developing over time a robust pipeline of FDA approved synthetic compounds targeting the endocannabinoid system of the human body to treat certain diseases of the central nervous system and autoimmune disorders of the skin, GI tract and the musculoskeletal system.

Through its acquisition of Prismic Pharmaceuticals in Q2 2019, FSD Pharma is also making an effort to help address the opioid crisis by developing opioid sparing prescription drugs utilizing the micronized formulations of palmitolylethonalamide (PEA). The Company intends to initiate Phase 1 first-in-human safety and tolerability trials for its lead candidate, PP 101 micro-PEA during 1Q20.

FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.

Forward-Looking Statements

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release, including statements relating to the Company’s expectations regarding the Shares being listed on Nasdaq and the timing of commencement of the Shares trading on Nasdaq, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President and Founder, FSD Pharma Inc., zeeshan@fsdpharma.com, (416) 854-8884; Investor Relations, IR@fsdpharma.com, www.fsdpharma.com Or LHA Investor Relations, Sanjay M. Hurry, shurry@lhai.com, (212) 838-3777

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Adding Value to Cannabis: World Class Extractions

Cannabis investors have had a series of rude shocks in the past few months. Right now, people still believe in the cannabis opportunity are much more selective in their investment choices. They want companies with real assets, cash on hand, a real business plan, proprietary intellectual property and a well-defined market.

That in mind, I was delighted to be able to visit the World-Class Extractions (CSE:PUMP) manufacturing facility in an industrial park in Langley, British Columbia.

There is nothing more real than a metal fabrication shop with three large extraction machines in various stages of completion and then two finished machines undergoing testing. (See photo above.)

The cannabis market is much more than just the smokable dried flower. Edibles, oils, concentrated waxes and many other products can deliver the various cannabinoids people want. Whether the objective is medicinal or recreational, products extracted from cannabis are a huge business. In fact, in Oregon, where marijuana has been legal for several years, the non-dried flower sector represents 50% of the market.

All of those non-smokable products require extraction and given the size of the market, extraction on a large scale.

“A lot of the extraction devices out there are really “garage band” level,” said Tamas Jozsa, President of Soma Labs, the WCE subsidiary which is actually designing and building the WCE machines, “We’re professional engineers with over 30 years experience in high-pressure industrial equipment.”

Which is important because the WCE technology is based on using supercritical CO2 as the agent to extract the crude cannabis extract. Supercritical CO2 is very efficient at targeting desired cannabinoids while maintaining high-quality terpene integrity, with the ability to partially recycle the solvent which consequently leaves. In order to handle these high-pressure operations, it needs well-engineered and certified pressure vessels, properly specified tubing and fittings, a number of sensors throughout the system and operating software to control and monitor the process and allow both on-site and remote troubleshooting.

The Boss, WCE’s top of the line extraction system can process over 100 kilograms of biomass a day. To do that it has to be designed and tested to industrial standards. It also has a unique “Clean in Place” system to reduce downtime, unwanted impurities and ensures consistent performance which allows for seamless GMP (Good Manufacturing Practices) compliance. This did not happen overnight. Soma Labs has been working on its extraction technology for over four years.

Having a well-engineered, high capacity machine is the beginning, not the end of the WCE story. Speaking with PUMP CEO Rosy Mondin you begin to get a sense of the scope of World Class’s ambitions.

“We intend to utilize our technology in our joint venture extraction and processing facilities and providing toll processing and contract manufacturing services for third party license holders and independent brands.  This provides World-Class with recurring revenue streams.  “In addition, we will also continue selling our BOSS CO2 Extraction System and other extraction components, subject to availability.” said Mondin”

It is an engaging strategy and PUMP has already signed two Letters of Intent for Joint Ventures. The first, with FSD Pharma will create an extraction facility at FSD’s Cobourg Ontario location. “The initial phase, which is scheduled to commence production in December 2019, is comprised of several BOSS CO2 Extraction Systems as well as WCE’s BEAST Ethanol Extraction System, along with all the ancillary equipment required for the preparation of the biomass, as well as refining and distillation processes. With ample room to expand, the Facility will initially have an extraction and processing capacity of up to 5,000 pounds of biomass per day.” (September 25, 2019 Press Release) The second is a Joint Venture with Canntab Therapeutics Limited (C.PILL) announced on October 8, 2019 for a facility at Markham, Ontario. This is a more modest operation with an extraction and processing capacity of up to 220 kilos of biomass per day.

Both deals leave ownership of World-Class’ equipment with the company until the cost of the equipment and installation has been paid through the operations of the extraction machines. After that, revenue will be split which will give PUMP a significant revenue stream going forward.

Having industrial scale, working, cannabis extraction machinery puts World-Class’ in an ideal position to benefit from the growing cannabis market.

“The edibles cannabis market in Canada has yet to begin – representing the largest segment of value-added cannabis derivative products. Oil is the base ingredient for all these products. Current extraction companies are already reaching capacity as it is. The market is huge for Canada, US and internationally as cannabis extracts (including CBD) gain acceptance and traction worldwide,” said Mondin. “According to new data from the US Department of Agriculture (USDA), US farmers more than quadrupled the land planted with hemp in the past year, from 27,424 acres in August 2018 to 128,320 acres today. Which means there is a large need for extraction equipment to process this hemp into CBD products.”

The edibles regulations in Canada were issued at the beginning of October and Mondin knows that sector will be good for World-Class’ saying, “It will increase demand substantially. Current extraction companies are already reaching capacity servicing current needs. Demand for extracts, edibles and topicals is on the rise, outpacing demand for flower.” If the US experience is any guide, edibles and other extraction driven products could soon account for 50% of the Canadian cannabis market.

World-Class has the great advantage that its technology is ready to go. “BOSS machines have been sold since late 2017 and equipment is currently being shipped to our two-announced joint venture partners to setup the extraction and processing facility – one with FSD Pharma and one with Canntab.

“We not only build & manufacture our technology but use our technology and work with licensees to ensure that our equipment, tech and processes provides them with the best & most efficient methodologies to get them to ROI as quickly as possible,” said Mondin. “By working with our technology we have figured out the extraction bottlenecks ensuring the best end-to-end solution for making the best cannabis oils.”

With real extraction technology already built, cash in the bank and a revenue-generating business plan which is designed to create ongoing future revenue streams, World-Class Extractions is very, very real.

For investors looking for a low downside window into the cannabis world, PUMP offers a very attractive entry point. Like many companies in the marijuana space, PUMP has been pummelled in the stock market with its shares currently trading near all-time lows. Unlike many cannabis stocks, World-Class Extractions has a clear path to profitable participation in the marijuana marketplace.

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