FSD Pharma Announces Appointment of Interim Chief Financial Officer
May 05 2021 - 8:30AM
Business Wire
FSD Pharma Inc. (Nasdaq:HUGE) (CSE:HUGE) (the "Company"
or "FSD Pharma") is pleased to announce the
appointment of Nathan Coyle, the Company's Corporate Controller as
its Interim Chief Financial Officer, following the departure of
Donal Carroll, effective immediately.
Mr. Coyle joined FSD Pharma Inc in 2020 as Corporate Controller
and has 15 years of executive business experience as a finance
leader in both public and private roles. Mr. Coyle was previously
with Illinois Tool Works (NYSE:ITW) where he was a key player in
restructuring the organization, shaping the growth and streamlining
businesses within his industrial packaging segment. Mr. Coyle's
involvement in multiple mergers and acquisitions and integrating
those organizations was key to company growth. After ITW, Mr. Coyle
worked with a private organization implementing the same corporate
strategies to maximize growth. Mr. Coyle holds a Bachelor of
Business Administration with honours from Brock University and is a
Chartered Professional Accountant.
About FSD Pharma
FSD Pharma Inc. (www.fsdpharma.com) is a publicly-traded holding
company.
FSD BioSciences, Inc., a wholly-owned subsidiary, is a specialty
biotech pharmaceutical R&D company focused on developing over
time multiple applications of its lead compound, ultra-micro PEA by
down-regulating the cytokines to effectuate an anti-inflammatory
response.
The Company filed an IND with the FDA on August 28, 2020 and was
approved on September 25, 2020 to initiate a phase 2 clinical trial
for the use of FSD201 to treat COVID-19, the disease caused by the
SARS-CoV-2 virus. The trial is currently underway and is expected
to randomize 352 patients in a controlled, double-blind multicenter
study.
Severe COVID-19 is characterized by an over-exuberant
inflammatory response that may lead to a cytokine storm and
ultimately death. The Company is focused on developing ultra-micro
PEA for its anti-inflammatory properties to avoid the cytokine
storm associated with acute lung injury in hospitalized COVID-19
patients.
The Company is not making any express or implied claim that its
product has the ability to eliminate, cure or contain the COVID-19
(or SARS-2 Coronavirus) infection at this time.
Forward-Looking Statements
Neither the Canadian Securities Exchange nor its regulation
services provider accept responsibility for the adequacy or
accuracy of this press release.
Certain statements contained in this press release constitute
“forward-looking information” and “forward-looking statements”
within the meaning of applicable Canadian and U.S. securities laws
(collectively, “Forward-Looking Information”). Forward-Looking
Information includes, but is not limited to, information with
respect to FSD Pharma's strategy, plans or future financial or
operating performance, receipt of any FDA approvals, the completion
of any trials regarding the use of FSD201 to treat COVID-19, the
safety of FSD201 or whether FSD201 may be effective in treating
COVID-19, the costs associated with such planned trials and our
belief that we have sufficient cash to complete the Phase 2 study,
our ability to obtain required funding and the terms and timing
thereof, the ultimate development of any FDA approved synthetic
compounds, the expected insurance recovery related to the
settlement agreement, the completion of the settlement contemplated
in the settlement agreement and the timing and closing of the sale
of certain non-core real estate assets. The use of words such as
“budget”, “intend”, “anticipate”, “believe”, “expect”, “plan”,
“forecast”, “future”, “target”, “project”, “capacity”, “could”,
“should”, “focus”, “proposed”, “scheduled”, “outlook”, “potential”,
“estimate” and other similar words, and similar expressions and
statements relating to matters that are not historical facts, or
statements that certain events or conditions “may” or “will” occur,
are intended to identify Forward-Looking Information and are based
on FSD Pharma’s current beliefs or assumptions as to the outcome
and timing of such future events. Such beliefs or assumptions
necessarily involve known and unknown risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied in such Forward-Looking Information. Certain
of these risks and uncertainties are described in the Company’s
continuous disclosure filings available under the Company’s SEDAR
profile at www.sedar.com and under the Company’s EDGAR profile at
www.sec.gov. Forward-Looking Information is not a guarantee of
performance. The Forward-Looking Information contained in this
press release is made as of the date hereof, and FSD Pharma is not
obligated to update or revise any Forward- Looking Information,
whether as a result of new information, future events or otherwise,
except as required by law. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on Forward Looking-Information. The foregoing statements
expressly qualify any Forward-Looking Information contained
herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505005580/en/
Nathan Coyle, Interim Chief Financial Officer, FSD Pharma Inc.
ncoyle@fsdpharma.com
Media Contact:
Joel Shaffer Longview Communications and Public Affairs
jshaffer@longviewcomms.ca
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