FSD Pharma Inc. (HUGE) shares have tumbled to a 52-week low, touching down at just $0.07, marking a significant downturn for the pharmaceutical company. This latest price level reflects a stark contrast from its performance over the past year, with the stock experiencing a precipitous decline of -94.81%. Investors have watched the value erode steadily, culminating in this year's low point, as the company grapples with market challenges and investor sentiment. The 52-week low serves as a critical indicator for shareholders and potential investors, who are now closely monitoring FSD Pharma's strategies for recovery and growth in an increasingly competitive sector.
In other recent news, FSD Pharma has been involved in several notable developments. The biopharmaceutical company recently won a court judgment against its former CEO, Dr. Raza Bokhari, with the United States District Court for the Eastern District of Pennsylvania ordering Bokhari to pay various sums totaling over CAD $2.9 million plus interest. This decision comes after a drawn-out legal battle following Bokhari's termination by FSD Pharma's board in 2021.
FSD Pharma has also secured approval from an Australian ethics committee to commence a Phase 1 clinical trial for its drug candidate, Lucid-21-302, aimed at treating multiple sclerosis. Additionally, the company has entered into an exclusive agreement with the University of Southern California to evaluate a novel dietary supplement technology for potential commercialization.
In other developments, FSD Pharma has received the go-ahead to start its METAL-2 trial in the United States, exploring treatments for acute alcohol intoxication. These are recent developments in FSD Pharma's ongoing endeavors in the biopharmaceutical sector.
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