FSD expects the shares to commence trading on the NASDAQ Capital Market in the near future.
FSD is a specialty, biotech pharmaceutical R&D firm that is focused on developing a 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 the second quarter of 2019, FSD is also trying to 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 the first quarter of 2020.
FSD subsidiary FV Pharma is a licensed producer under Canada’s Cannabis Act and Regulations. The company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility in Cobourg, Ontario.