HUGE - FSD Pharma launches mid-stage study of FSD201 in COVID-19; shares up 7%

Nano cap FSD Pharma (HUGE) perks up 7% premarket on average volume in response to the initiation of a 352-subject Phase 2 clinical trial evaluating orally available FSD201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA), along with standard-of-care ((SOC)) treatment, in hospitalized COVID-19 patients. Dosing could commence this month.The primary objective is to determine if FSD201 improves clinical status compared to SOC alone.Palmitoylethanolamide is a chemical made from fat. It is found naturally in foods like egg yolks and peanuts. It is used to treat pain, fibromyalgia, multiple sclerosis, carpal tunnel syndrome, infections of the airway and other disorders but scientific data demonstrating efficacy is lacking.

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FSD Pharma launches mid-stage study of FSD201 in COVID-19; shares up 7%