- PharmAla Biotech (CSE:MDMA) issued a public warning after discovering that unknown parties are illegally marketing a nasal spray online under false pretenses
- PharmAla emphasized that the composition of the counterfeit nasal spray is unknown and could pose serious health risks
- The company is urging anyone who may have purchased the product to dispose of it immediately and to report the incident to the appropriate health authorities
- PharmAla Biotech stock (CSE:MDMA) last traded at $0.10
Canadian psychedelic stock PharmAla Biotech (CSE:MDMA) has issued a public warning after discovering that unknown parties are illegally marketing a nasal spray online under false pretenses.
According to the company, the unauthorized product (pictured above) is being falsely advertised as a PharmAla Biotech offering and is unlawfully using the company’s logos and trademarks. PharmAla has made it clear that it does not manufacture or sell any nasal spray products, nor does it distribute any of its drug products directly to consumers.
PharmAla emphasized that the composition of the counterfeit nasal spray is unknown and could pose serious health risks. The company is urging anyone who may have purchased the product to dispose of it immediately and to report the incident to the appropriate health authorities.
PharmAla is working with legal counsel and regulatory bodies to identify the perpetrators and prevent further distribution of the fraudulent product.
PharmAla focuses on the research, development and manufacturing of LaNeo MDMA and novel derivatives of MDMA, MDXX-class molecules, for clinical trials and commercial sales. The company is the world’s sole provider of clinical-grade MDMA for patient treatments outside of clinical trials.
PharmAla Biotech stock (CSE:MDMA) last traded at $0.10 and has lost more than 43 per cent since this time last year.
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