TORONTO - FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(FRA:0K9A) subsidiary Celly Nutrition Corp. ("Celly Nu") has announced a strategic partnership with branding agency Six+One to enhance the market presence of its dietary supplement, unbuzzd™. The beverage, designed to support alcohol metabolism and promote alertness, is set to launch in the United States.
The partnership, revealed on Thursday, tasks Six+One with developing a comprehensive brand strategy for unbuzzd™, including personality, visual identity, packaging, and website creation. Six+One is known for its work with brands like vitaminwater and Body Armor, which were later acquired by The Coca-Cola Company (NYSE:KO).
John Duffy, CEO of Celly Nutrition, praised the collaboration, citing Six+One's track record and innovative branding approach as key to potentially amplifying unbuzzd™'s market impact. Eric Rojas, Founder of Six+One, expressed eagerness about the partnership, aiming to establish unbuzzd™ as a household name.
unbuzzd™ is formulated to expedite alcohol metabolism, facilitate recovery from alcohol consumption, and enhance mental alertness. The product's launch is guided by beverage industry veterans including Gerry David, former CEO at Celsius Holdings (NASDAQ:CELH), and Kevin Harrington, a pioneer in infomercials and original Shark on Shark Tank.
FSD Pharma focuses on developing treatments for neurodegenerative and metabolic disorders, along with alcohol misuse disorders. It has licensed unbuzzd™ to Celly Nu and will receive royalties from product sales.
The information in this article is based on a press release statement.
InvestingPro Insights
In the midst of launching their new dietary supplement, unbuzzd™, FSD Pharma Inc. (NASDAQ:HUGE) presents a mixed financial landscape according to recent InvestingPro data. As of the last twelve months ending in Q4 2023, the company holds a market capitalization of 18.41 million USD.
This figure represents the company's adjusted market value, taking into account its outstanding share count. Despite the challenges, FSD Pharma's management strategy includes an aggressive share buyback program, as noted by one of the InvestingPro Tips, which could be a signal of confidence from the company's leadership in its future prospects.
The company's financial health shows some areas of concern, with a negative P/E ratio of -1.02, reflecting that the company is currently not profitable. The P/E ratio adjusted for the last twelve months further corroborates this, standing at -1.03.
Still, another notable InvestingPro Tip highlights that FSD Pharma holds more cash than debt on its balance sheet, which is a positive indicator of financial stability and could provide the company with a cushion to navigate through periods of market volatility or investment in growth opportunities.
Investors may also take note of the stock's recent performance. The price has seen a significant drop over the past year, with a 1 Year Price Total Return of -69.79%. Such a decline might attract investors looking for potential turnaround candidates, especially considering that analysts predict the company will be profitable this year, according to another InvestingPro Tip.
For those considering an investment in FSD Pharma, additional insights are available on InvestingPro, where there are more InvestingPro Tips that could further inform investment decisions. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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