HUGE - FSD Pharma gets ethics panel nod in Australia for phase 1 trial of depression drug

2023-03-22 11:39:43 ET

• FSD Pharma ( NASDAQ: HUGE ) said it received a certificate of approval from The Alfred Ethics Committee in Australia to proceed with a phase 1 trial of Lucid-201 (Lucid-Psych)  to treat Major Depressive Disorder (MDD).
• Lucid-Psych is being developed outside of Australia by Lucid Psycheceuticals, a unit of FSD Pharma, and in Australia by FSD Pharma Australia.
• "As we initiate the clinical stage for Lucid-Psych, our clinical team is optimistic that our novel drug candidate in a unique dosage form will be safe and tolerated," said FSD CEO Lakshmi Kotra.
• FSD noted that Lucid-Psych is a psychoactive molecule selected as a potential therapy for MDD based upon the drug's pharmaceutical and metabolic properties including using machine learning algorithms, and for its potential proprietary position.

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