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HUGE - FSD Pharma stock gains on share repurchase authorization
FSD Pharma Inc.
FSD Pharma ( NASDAQ: HUGE ) shares gained ~13% premarket on Friday after the biopharmaceutical company announced a normal course issuer bid to repurchase up to 1,925,210 of its Subordinate Class B Voting Shares over the next 12 months.
That represents ~5% of the company’s issued and outstanding subordinate voting shares as of the date hereof.
Under its previous bid, the company repurchased for cancellation 1,999,800 subordinate voting shares at an average price of approximately C$1.20/share.