See Why FSD Pharma Terminated COVID-19 Trial

FSD Pharma Inc (NASDAQ:HUGE) will terminate the Phase 2 trial of ultra-micronized palmitoylethanolamide (PEA), or FSD-201, for COVID-19.
FSD-201 works by stabilizing mast cells and down-regulates the pro-inflammatory cytokines to effectuate an anti-inflammatory response.
It is also known to target the CB2 receptors of the human body’s endocannabinoid system.
FSD Pharma has previously completed a Phase 1 safety and tolerability study for FSD-201 and the compound to be safe with no serious adverse side effects.
As previously disclosed, FSD Pharma retained Bloom Burton Securities Inc to undertake viability & commercial viability review of its Phase 2 program of FSD-201.
In particular, the Company was concerned with the pace of advancement of the study when COVID-19 treatments evolved significantly and competitive products were being successfully advanced.
Bloom Burton and the Company concluded that FSD-201 is unlikely to be commercially viable.
Price Action: HUGE stock is down 11.10% at $1.53 during the premarket session on the last check Wednesday.