Even experienced traders find the stock market to be quite bewildering at times. There are times when, even when the results are as expected, the market just seems to turn in the opposite direction, leading to doubts and speculation. A good strategy might include keeping track of a stock’s price performance in the past, as well as keeping an eye on its trends in the short-term and long-term. Over the past week, F.S.D. Pharma Inc. (Nasdaq: HUGE) stock prices have decreased by 7.25%, but they have increased 19.65% over the last quarter. Throughout the previous six months, the stock’s value fell over -2633% but is currently up over 32.69% for the year.
What is hot at the moment?
March 17, 2021, it is disclosed that F.S.D. Pharma Inc. (Nasdaq: HUGE) has agreed to license ultra micronized-palmitoylethanolamide with Innovet Italia S.R.L. to manufacture FDA-approved veterinary drugs for treating gastrointestinal diseases in dogs and cats. Additionally, the Company today released its year-end finance and corporate results.
The deal with Innovet Italia S.R.I., is an opportunity for the Company to enter a new and untapped market. Our balance sheet’s strength allows us to explore other M&A and license options to expand our drug development pipeline, said led by Dr. Raza Bokhari, executive chairman and C.E.O.
Key points of the License Agreement
- This agreement gives the Company the exclusive worldwide rights to develop, manufacture, and market products utilizing specific unique formulations of ultra-micro P.E.A. to treat gastro-intestinal problems in canines and felines.
- A provision of the License Agreement requires the Company to develop the Licensed Products in order to submit an Investigational Animal Drug Application within 36 months from the date of the agreement and a New Animal Drug Application within 60 months after the effective date of the agreement.
- Under the License Agreement terms, Innovet will receive payments from the Company upon achievement of certain milestones.
- There is also a certain royalty payment specified in the License Agreement.
- Additionally, the Company is obliged to pay 5% of net sales on products licensed from the Company.
Major Business Updates
- A special shareholders’ meeting is scheduled for May 14, 2021, at the Company’s annual meeting.
- At the 2021 A.G.M., April 15 is the record date for voting.
- Shareholders will receive the Company’s management information circular and proxy materials before April 23, 2021.
- The 2021 Annual General Meeting replaces the shareholder meeting of June 29, 2021, announced earlier.
What Analysts make of HUGE stock?
The HUGE stock price may go up by 79.3%, according to Market Gurus. The shares were to achieve a high price target of $10.00 in the next 12 months. Analysts also predict that traders would keep stock prices between $10.00 and $15.00. Overall, HUGE’s price is up 32.69% this year.
