Celly Nu will be bankrupt before they ever get started once the IP that HUGE stole from Sure Shot is yanked. What kind of moron starts a company for a "revolutionary" product after the company they have the licensing rights from gets sued for $53 million for stealing the IP? I thought Kevin Harrington was suppose to be a smart guy?
Did you receive your Celly Nu Shares?
Let me clarify.... a $53 million judgement against HUGE for violating a NCNDA and stealing proprietary information?
I wonder how a $53 million judgement would affect the share price of HUGE?
Good luck with that! They are being sued for $53 million for stealing the IP while under an NDA.
Scumbags think because they're in Canada they can get away with it, but they won't. They've already attracted the wrong kind of attention to them from the SEC.
What new product? The one they stole and are being sued for over $50 million?
Now, their former Chair and CEO is suing for $30million.
That's over $80 million in lawsuits in the last 90 days!
Ride the wave!!!!
I heard they got caught soliciting an ingredient supplier for GBB's hangover drink. Again, a direct violation of the NDNC Agreement the two companies had between them. I'm looking for FSD Pharma to have some type of temporary injuction filed against them.
Paying the price for trying to steal someone's IP. They thought because they live in Canada they could get away with this. They will never prove their formula is different from the one they tried to steal. I wonder what a $54 million judgement does to this company?
How can this company possibly file a 6-K disclosure statement and not mention they were recently hit with a $53 million lawsuit? I'm sure the SEC would consider that a material event. Certainly more material than presenting at a conference.
HUGE $53 Million lawsuit filed against FSD Biosciences.
No pun intended!
based in what? are you pulling court filings? What else?
I don't know but I'm looking for a BIG lawsuit to hit these frauds really soon!
This is consolidating, showing low volume on both markets,and just waiting to see what will be done moving forward. Still believe things will be great really soon. Why would the CEO be buying a significant number of shares if things were going to be on the rocks?
Patience will be the winner strategy for FSD, IMO.
This is about as one-sided a situation as you can get. FDS Pharma has zero defense for their actions.
I'm only gleeful that I gave people the opportunity to think about their investment in this situation before the hammer dropped.
Some are thankful while others remain in denial.
I will wait and see what happens as there could be many ways a lawsuit can go. My point is because you see someone slap a suit on a company you disapprove of that its a slam dunk. By all the posting and posturing about this , you sound very close to GBB. On the other hand I am just a shareholder of FSD.You seem gleeful that this has been brought forth so I assume you don’t hold any shares. On the other hand I am a shareholder of FSD and am hoping this gets resolved in the best possible interest of the company I hold shares in. I think its odd that you think its a great thing to bring it here like you’re going to find support from people who will sell off, because they believe everything you’re saying. Like I said “have atter”.
When you pretend to invent something you don't actually own, sign an NDA then violate it in order to pump the stock and induce legitimate business people to endorse that product it's FRAUD!
Anyone who doesn't know what's going on should crawl out from under their rock and take a look at the press release. Details of the events can be found in the press release so no one needs to guess at what happened.
Look for a major lawsuit over this to follow!
Nobody on this board knows what went on for the months before making an agreement. My theory is there was an agreement both parties were fine with, until GBB saw how fast FSD was taking it to market and with high profile people involved. I didn’t even know what GBB was until the news of a cease and desist against FSD came out. I am waiting this out regardless, because unlike some here, I was originally here for the Lucid MS and other things that I believe in. It is not easy to get approval for a trial on any pharmaceutical. I don’t believe that FSD would have a green light without the appropriate scrutiny from the powers who make that decision. I believe there are three sets of researchers doing the same study. I think its rich to acuse FSD as guilty before they have addressed the matter, but you one can “have atter” you have that right. Calling down FSD as fraudulent in everything they are doing as a company over an alleged infringement of one aspect that isn’t even connected to the another.
That’s a big STRETCH at the very least.
I remember everyone was spewing crap about FSD when the lawsuit was in court with the last CEO. FSD won that. Hardly anyone even mentioned how that was a good thing. I have yet to see a “Cease and Desist” action yet. When I see it on a builtin board it doesn’t convince me .
I always notice there are many available to talk crap and spread rumours without proof. I have not seen it announced anywhere else except here. It may scare some away temporarily but the truth always comes out in the end. If there is a cease and desist order I am sure we will hear the FSD side of it soon enough.
After getting hit with a ceast and desist along with a potential lawsuit for fraud I'm not sure I would believe anything this company has to say.
YES FER KEVIN FSD Pharma Inc
FSD Pharma Achieves Milestone in Completion of Dosing of Sentinel Subjects in First-in-Human Clinical Trial of Lucid-MS (Lucid-21-302) for Multiple Sclerosis
April 17 2023 - 09:00AM
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FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, today announced completion of the first-in-human (“FIH”) sentinel dosing of Lucid-21-302 (“Lucid-MS”) in the Company’s Phase I clinical trial evaluating its novel drug candidate as an orally-administered treatment for Multiple Sclerosis (“MS”). The sentinel dose was completed on Sunday, April 16, 2023.
“Dosing the sentinel subject is a major achievement for our team and culmination of more than a decade of very promising research by a seasoned development team passionate about changing the future treatment paradigm for patients dealing with the debilitating effects of MS,” said Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, a wholly owned subsidiary of FSD Pharma. “Current MS treatments are immunomodulatory and include repeated subcutaneous or intramuscular injections for treating the symptoms of MS. We envision a day where an oral medication will protect or even help repair myelin in the central nervous system, a hallmark feature of the disease. We are optimistic Lucid-MS has this type of paradigm-shifting potential and the sentinel dosing is a critical step in advancing this pipeline forward.”
The FIH clinical trial is evaluating the safety and tolerability of Lucid-MS, a patented first-in-class New Chemical Entity (“NCE”) and neuroprotective compound with a novel mechanism of action for the treatment of MS. Lucid-MS. In preclinical models, Lucid-MS has been shown to prevent myelin degradation (demyelination), a hall mark pathology feature of MS and other neurogenerative diseases characterized by damage to the myelin sheath surrounding nerve fibers in the central nervous system. Preclinical evidence has demonstrated Lucid-MS to promote functional recovery in experimental animal models of MS (https://fsdpharma.com/our-science/). Based upon current evidence, Lucid-MS is non-immunomodulatory, an important distinction in the potential for developing new, safe options for treating MS.
The Seriousness of MS
MS is a chronic inflammatory and degenerative disorder of the central nervous system (brain and spinal cord). Presentation of symptoms can be diverse, including fatigue, numbness and tingling, muscle spasms, blurred vision, dizziness, pain, mobility problems, cognitive impairment and decline, depression, anxiety, and more. Although current treatments reduce the relapse rate, there remains a significant unmet need to slow disease progression and address the progressive stages of MS, which LUCID-MS may address.
The MS Society (https://mssociety.ca/resources/news/article/atlas-of-ms-report-shows-28-million-people-worldwide-live-with-multiple-sclerosis) shows that someone in the world is diagnosed with MS every five minutes. According to MS International Foundation (Atlas of MS 2020 – Epidemiology report found at www.msif.org/resource/atlas-of-ms-2020/), the number of people diagnosed worldwide with Multiple Sclerosis in 2020 is estimated at 2.8 million, up significantly from 2.3 million in 2013. The U.S. and Canada rank amongst the highest in the world in prevalence per capita, with 288 cases per 100,000 people and 250 cases per 100,000 people, respectively. MS can occur at any age, but the average age for diagnosis globally is 32 years. MS is also diagnosed in youths, with at least 30,000 children under the age of 18 (or ~1.5% of the total number of cases) living with the disease. MS is far more frequent in females (69% of cases) than in males (31% of cases). There currently is no cure for MS. Deaths attributed to MS are commonly caused by infection (e.g., respiratory, urinary tract-related); conditions associated with advanced disability and immobility (e.g., aspiration pneumonia, chronic respiratory disease). According to Allied Market Research, the global MS therapies market was valued at $22.99 billion in 2018 and will grow at a 2.5% compound annual growth rate to reach $28.0 billion by 2026 (www.alliedmarketresearch.com/multiple-sclerosis-market).
About FSD Pharma
FSD Pharma Inc. 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 ultra-micronized PEA formulation, for the treatment of inflammatory diseases. Lucid Psychss Inc., a wholly owned subsidiary, is 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, and expanding this category, the Company is investigating other products addressing acute medical needs due to the abuse of drugs such as alcohol. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.
Forward Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “hopes”, “planned” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might”, “potentially” or “will” be taken, occur or be achieved. More particularly, and without limitation, this press release contains forward-looking statements contained in this press release include statements concerning the future of FSD Pharma Inc. and are based on certain assumptions that FSD Pharma has made in respect thereof as of the date of this press release. FSD Pharma cannot give any assurance that such forward-looking statements will prove to have been correct.
Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct and these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the fact that the drug development efforts of both Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain, and the drug product candidates of Lucid and FSD BioSciences may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of Lucid and FSD BioSciences; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of Lucid and FSD BioSciences; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected, or impacted by COVID-19 related issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of Lucid and FSD BioSciences; and other risks. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release, which speak only as of the date of this press release.
Further information regarding factors that may cause actual results to differ materially are included in the Company’s annual and other reports filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR (www.sec.gov), including the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021, under the heading “Risk Factors.” This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. The forward-looking statements contained in this document speak only as of the date of this document. FSD Pharma does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005534/en/
Zeeshan Saeed, Founder, President and Executive Co-Chairman of the Board, FSD Pharma Inc.
Telephone: (416) 854-8884
Email: firstname.lastname@example.org, email@example.com
If they would defraud people regarding this hangover drink what won't they defraud people over?
I'm sure Kevin Harrington is pissed!!!!