Any reader conversant with the current state of the marijuana industry would know that it has been an interesting month for FSD Pharma Inc (CNSX:HUGE).Since beginning trading on the Canadian Stock Exchange on 1st June 2018, the company has maintained its dominance of the news with headline captions pertaining their top management consistently appearing at the front pages. This, coupled with the fact that their share price is currently enjoying a run of a lifetime, has led them right to the top of the news.The above-mentioned price action can be seen in the chart below: FSDDF Daily ChartWith the above two in mind, FSD Pharma is seemingly among the top performing companies in its industry. Its run, however, seems quite short when compared with that of other companies operating within the medical cannabis space – as seen when we evaluate the company’s share price chart above.Given this, we decided to take a look at them to find out the key driver of the stock and what the future seems like for them. We then obtained the report below.The History of HUGEA look into the history of FSD Pharma Inc sends you back a few decades to the early 90s – 1994 to be specific – during which period the company was incorporated under the laws of Canada while being headquartered in Cobourg. Then, they were known as Century Financial Capital Group Inc, a name which has come to change only as of May 2018.Their operations have since been within the medical cannabis space both within the production and processing fronts. For the former, HUGE uses the hydroponic indoor production mechanism, a method which the company’s subsidiary, FV Pharma Inc, who are licensed under the Access to Cannabis for Medical Purposes Regulations as marijuana producers have perfected.Finally, its distribution capacities have been developed through a strategic partnership agreement the company has with SciCann Therapeutics Inc. Through this, HUGE can both produce and distribute the cannabinoid-based products which SciCann develops.All in all, the entry of FSD Pharma Inc into the cannabis space seems to have been a well-calculated move by their management. The question, however, remains: how well is it working for their future?Recent DevelopmentsFSD Pharma’s recent developments can be split in half: the series of top management appointments and the strategic partnerships entered into, all which have had an impact on the company’s share price. Let us drill down into both respectively.As a result of their rebranding, FSD Pharma has had to change a lot of their management at the top.Over a period of one month, they have appointed three senior managers onto their board.First was Mr. Anthony Durkacz, the current Executive Vice President at First Republic Capital Corp. since January 2014. With vast experience serving new listings as well as providing consulting services to high net worth individuals and small and medium-sized firms, he is set to bring a lot to the table especially given that HUGE meets his experience credentials perfectly.This was topped by the appointment of Mr. Michael Ash as the Chief Commercial Officer of FV Pharma Inc – one of the company’s wholly-owned subsidiary. He brings a wealth of experience within the pharmaceutical industry, specifically in product and brand development, packaging and sales and distribution both locally and internationally. His understanding of the distributive network serves as a key competence which he believes he can harness to get the products to the consumers across Canada thus boosting the company’s growth and revenues.Finally, there is Dr. Zohar Koren who was appointed as the Head of their Scientific Advisory Board. The reason for his appointment was best described by the CEO of FSD Pharma as follows:
“…Under his leadership, the Scientific Advisory Board of FSD Pharma will focus on bringing disruptive science-based cannabinoid therapies to patients, and thus position FSD Pharma as a global leader in the new emerging field of clinically verified and rigorously tested cannabinoid medical products.
Source:Here, the CEO was alluding to the aforementioned partnership with SciCann which would see them produce disruptive science-based cannabinoid therapies for patients. Dr. Koren will, therefore, provide liaison between the Canadian company and their partner – based in Israel – so as to ensure that their products meet the required standards to fit the Canadian medical board approval processes.Strategic PartnershipsThe passing of the cannabis act has come to Canada, to the jubilation of companies within the industry. The act has sent a wave within the industry over the past year, with companies benefiting from share price surges merely due to being participants within the sector.During this period, most companies have been readying themselves for the official federal legalization of cannabis in different ways, the key being the signing of deals which will see them grow their capacities. HUGE hasn’t been left behind.Their first deal was with SciCann for the production of cannabis-based drugs for patients in Israel. To top it, they have partnered with Cannara Biotech Inc in a deal which will see them grow their combined floor space to over 1.245 million square feet of indoor growing capacity. The deal has seen them come to own 25% of Cannara Biotech Inc and through this space, their production capacity has sky-rocketed.With their presence in Quebec expected to be felt soon after the federal legalization, FSD Pharma is on the verge of a rise, a rise further supported by their addition to the CSE 25 Composite Index on the 15th June 2018. This places them strategically as the ‘crème of the crop’ according to analysts and speaks to their growth potential going into the future.All the above in mind, it is very clear that FSD Pharma is well positioned for its rise. Their goal is set, the team ready and the work has begun. Success is thus in the offing for them.ConclusionHUGE has grown its influence significantly over the past one month. The company has made such huge leaps over such a short period, all of which speak to the prowess with which they are currently operating. It will not be long before their success story hits the market and their share price rises to the top, as has been the case until now.We will be updating our subscribers as soon as we know more. For the latest updates on HUGE, sign up below!Disclosure: We have no position in HUGE and have not been compensated for this article.
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