FSD Pharma sheds cannabis facility as company moves away from weed

The sale is part of a new direction for the company that doesn’t include cannabis. “The facility was non-essential to the company’s business model upon the decision in early 2020 to exit the crowded cannabis production market,” it reports.Article content

Instead, FSD Pharma has renewed its focus as a biotech company, with the goal being to advance “novel drug candidates targeting lucrative areas of unmet medical needs” such as Muscular Sclerosis, depression disorders and inflammatory disorders. Anthony Durkacz, interim CEO and co-executive chairman of FSD Pharma, suggests the sale puts the company in a good position moving forward. “Combined with our existing cash on hand, we are sufficiently capitalized for operations through 2025, inclusive of budget allocations for planned clinical trials and without having to look to the capital markets for any additional funds,” Durkacz reports.

Noting the company’s vision is to “improve the quality of life of patients,” the website reports FSD Pharma has

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