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Tag: HUGE STOCK

  • FSD Pharma Inc. (HUGE) Stock Strides Up After Hours While There is No Official Announcement

    On February 04, FSD Pharma Inc. (HUGE) gained a further 7.10% after hours while there was no official announcement from the company.

    Friday’s regular session witnessed a below-average volume of 120.14K shares. The HUGE stock closed the regular session at $0.8310, just above its 52-week low of $0.8100. The stock while barely kept in the green with a gain of 0.48% in regular trading, added a good value after hours. Hence, HUGE was trading at $0.8900 per share after hours on Friday.

    The specialty biotech pharmaceutical R&D company, FSD Pharma Inc. has a market capitalization of $32.91 million. Currently, the company has 49.42 million shares outstanding in the market.

    HUGE stock Movement

    During Friday’s regular session, HUGE stock brushed down to its 52-week low of $0.8100 and closed the session just above it. Since there is no official news or SEC filing, the stock seems to have gained because of the new low. It seems like the new low provided a good buying opportunity to investors. Therefore, the stock made a big stride up in the after-hours while it barely kept in the green during regular trading.

    In the past five days, the stock has decreased by 5.57% while losing 18.53% year to date. Moreover, HUGE stock subtracted a value of 64.03% last year.

    Launch of New Corporate Website

    On January 20, the company announced the launch of its newly designed corporate website. The new website elaborately specifies HUGE’s emerging position along with its brain and inflammatory disorders’ novel treatment commitment. Furthermore, the website’s new look is very user-friendly for not only investors but also patients, researchers, and clinicians. It educates all users about the company’s unique approach for total brain health.

    According to the Interim CEO, Anthony Durkacz, the company has strategically assembled a team of scientists for developing its next-gen therapeutics pipeline. Currently, the company’s lead drug candidates are Lucid-MS, Lucid-PSYCH, and FSD-PEA.

    HUGE’s Other Developments

    In 2022, Elanor N. Fish, Ph.D., member of HUGE’s Research & Clinical Advisory Board was appointed to the Order of Canada. The background for this appointment was her contributions to immunology along with groundbreaking studies.

    The Order of Canada, the country’s highest civilian honors, was created in 1967. The Governor-General on the recommendation of the Advisory Council for the Order of Canada makes the appointments.

    On January 10, the company participated in the H.C. Wainwright BioConnect Conference which was held virtually.

  • Share Repurchase Program: FSD Pharma Inc. (HUGE) stock Hikes Premarket

    Share Repurchase Program: FSD Pharma Inc. (HUGE) stock Hikes Premarket

    On December 30, FSD Pharma Inc. (HUGE) announced a share repurchase program in order to return value to its shareholders. Consequently, the stock was trading at $1.02 apiece with a 3.78% gain premarket, at the last check.

    In the previous trading session, the HUGE stock barely remained in the green with a slight gain of 0.05% at $0.9828. Following the announcement, the stock made a huge jump in the premarket session.

    HUGE stock and its Movements

    The specialty biotech pharmaceutical research and development company, FSD Pharma Inc. was founded in1994. Based in Canada, the company has a market capitalization of $39.71 million. Currently, the company has 40.42 million shares outstanding in the market.

    In the past five days, HUGE stock has witnessed a loss of 7.28%, while losing 16.00% last month. Moreover, the stock has subtracted a value of 36.18% in the past three months and 37.00% year to date.

    Share Repurchase Program

    On Thursday, the company announced to strategically return value to shareholders with its excess cash reserves. HUGE’s board of directors authorized the repurchase of up to 2,000,000 of its Subordinate Class B Voting Shares. Moreover, the company will repurchase the shares at the market price over the next twelve months. Furthermore, these shares represent 5% of the company’s issued and outstanding Subordinate Voting Shares.

    According to the Interim CEO of HUGE, Anthony Durkacz, the company had cash and cash equivalents of over 39.3 million on September 30, 2021. Given the huge sum, the company is taking the strategic opportunity of returning value to its shareholders.

    Further, the commencement date of the share repurchase program is January 4, 2022. Moreover, the program is expected to terminate on December 30, 2022. In addition, the company may decide to terminate the share repurchase program at any time upon its discretion. The purchase of Subordinate Voting Shares would be canceled by the company.

    Other Recent Developments

    On December 09, HUGE announced the formation of a Regulatory Advisory Board (RAB). Furthermore, the company has appointed Joga Gobburu and Mary Melnyk as members of the board.

    Dr. Gobburu is a renowned scientific leader in pharmacometrics. Moreover, he is a Professor at the School of Pharmacy and the School of Medicine, University of Maryland, Baltimore, MD. Over the years, he has also served in various positions at the U.S. FDA.

    Expert in manufacturing and regulatory requirements, Dr. Melnyk is currently the Senior Regulatory Consultant at Innovalinks. Moreover, she has also served at the Academy of Applied Pharmaceutical Science, Biovail Corporation, EMD Merck Biomira, Novartis Canada/CIBA Division, and many others.

  • Let’s find out what is making F.S.D. Pharma Inc. (HUGE) stock standout today?

    Let’s find out what is making F.S.D. Pharma Inc. (HUGE) stock standout today?

    Even experienced traders find the stock market to be quite bewildering at times. There are times when, even when the results are as expected, the market just seems to turn in the opposite direction, leading to doubts and speculation. A good strategy might include keeping track of a stock’s price performance in the past, as well as keeping an eye on its trends in the short-term and long-term. Over the past week, F.S.D. Pharma Inc. (Nasdaq: HUGE) stock prices have decreased by 7.25%, but they have increased 19.65% over the last quarter. Throughout the previous six months, the stock’s value fell over -2633% but is currently up over 32.69% for the year.

    What is hot at the moment?

    March 17, 2021, it is disclosed that F.S.D. Pharma Inc. (Nasdaq: HUGE) has agreed to license ultra micronized-palmitoylethanolamide with Innovet Italia S.R.L. to manufacture FDA-approved veterinary drugs for treating gastrointestinal diseases in dogs and cats. Additionally, the Company today released its year-end finance and corporate results.

    The deal with Innovet Italia S.R.I., is an opportunity for the Company to enter a new and untapped market. Our balance sheet’s strength allows us to explore other M&A and license options to expand our drug development pipeline, said led by Dr. Raza Bokhari, executive chairman and C.E.O.

    Key points of the License Agreement

    • This agreement gives the Company the exclusive worldwide rights to develop, manufacture, and market products utilizing specific unique formulations of ultra-micro P.E.A. to treat gastro-intestinal problems in canines and felines.
    • A provision of the License Agreement requires the Company to develop the Licensed Products in order to submit an Investigational Animal Drug Application within 36 months from the date of the agreement and a New Animal Drug Application within 60 months after the effective date of the agreement.
    • Under the License Agreement terms, Innovet will receive payments from the Company upon achievement of certain milestones.
    • There is also a certain royalty payment specified in the License Agreement.
    • Additionally, the Company is obliged to pay 5% of net sales on products licensed from the Company.

    Major Business Updates

    • A special shareholders’ meeting is scheduled for May 14, 2021, at the Company’s annual meeting.
    • At the 2021 A.G.M., April 15 is the record date for voting.
    • Shareholders will receive the Company’s management information circular and proxy materials before April 23, 2021.
    • The 2021 Annual General Meeting replaces the shareholder meeting of June 29, 2021, announced earlier.

    What Analysts make of HUGE stock?

    The HUGE stock price may go up by 79.3%, according to Market Gurus. The shares were to achieve a high price target of $10.00 in the next 12 months. Analysts also predict that traders would keep stock prices between $10.00 and $15.00. Overall, HUGE’s price is up 32.69% this year.