Wednesday, July 2, 2025

FSD Pharma To Forfeit Cannabis License, Liquidate FV Pharma To Focus On Coronavirus

FSD Pharma (CSE: HUGE) (NASDAQ: HUGE) this morning announced that it is going all in on the ongoing coronavirus pandemic, and as a result, is closing down its FV Pharma subsidiary. FV Pharma currently holds a Health Cannabis license to cultivate cannabis, which it intends to forfeit.

FSD Pharma Logo

Specifically, the company has notified Health Canada that it will forfeit the license and suspend all cannabis related activity within 30 days. All related cannabis assets are in the process of being liquidated, which includes the sale of the firms production facility in Cobourg, Ontario.

In making the decision, CEO Raza Bokhari commented that shareholder value is, “best servied in closing down our medicinal grade cannabis operation .. and reinforcing steps to advance pharmaceutical R&D efforts on our lead compound FSD201.” The company currently intends to submit an investigational new drug application to the FDA for the use of this compound in the treatment of COVID-19.

The announcement marks the end of what was considered a highly controversial operation when it comes to the cannabis space. The Deep Dive covered the story extensively, from the questionable size and scale of the facility, to the share consolidation that effectively wiped many shareholders out. It appears that the controversy was not without merit, given that the company has now walked away from its cannabis aspirations entirely.

FSD Pharma last traded at $5.03 on the CSE.


Information for this briefing was found via Sedar, and FSD Pharma. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Coronavirus Hospitalizations in Texas Continue to Soar Despite Third Phase of State Reopening

It appears that the Trump administration will soon be facing scrutiny over its push for...

Thursday, June 11, 2020, 08:27:00 PM

Gilead’s Antiviral Drug Fails to Treat Coronavirus, Preliminary Study Shows

Gilead Sciences Inc (NASDAQ: GILD) has been running a randomized clinical trial on the experimental...

Thursday, April 23, 2020, 04:16:38 PM

UN Suggests at Least $1 Trillion in Debt Forgiveness Needed for Developing Countries Amid Pandemic

The United Nations recently issued a statement regarding the fight against COVID-19 in developing countries....

Monday, April 27, 2020, 11:05:18 PM

Datametrex To Sell Health Canada Approved COVID-19 Test Kits

Datametrex AI (TSXV: DM) announced this morning that it has obtained non-exclusive rights to a...

Monday, May 11, 2020, 10:56:16 AM

Revive Therapeutics Granted FDA Approval For Phase 3 Clinical Trial For Bucillamine In COVID-19 Treatment

It’s a big day for Revive Therapeutics (CSE: RVV) (OTC: RVVTF). The company announced this...

Friday, July 31, 2020, 09:16:29 AM