08:23 AM EDT, 03/27/2024 (MT Newswires) -- FSD Pharma Inc. ( HUGE ) , a biopharmaceutical company, was at last look up 1.4% in US premarket trade after announcing Wednesday that through its subsidiary, HUGE Biopharma Australia Pty Ltd., it entered into agreement with iNGENu CRO Pty Ltd on March 26, 2024 to conduct "A Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants".

"We are very pleased to formalize this agreement and to collaborate with iNGENu to conduct this clinical study," said Zeeshan Saeed, Co-Chairman and CEO of FSD Pharma ( HUGE ). "This clinical study builds on our prior Phase 1 study of Lucid-21-302 and represents an important next step in our mission to develop novel therapeutics for the treatment of MS."

FSD saw its CSE-listed shares jump near 8% yesterday