PET tracer shows promise for monitoring MS lesions in clinical study

TORONTO - A Positron Emission Tomography (PET) tracer being evaluated in a joint study between Quantum BioPharma Ltd. (NASDAQ:QNTM) and Massachusetts General Hospital (MGH) has demonstrated the ability to detect differences across lesions in multiple sclerosis patients, according to a company statement released Friday. The announcement comes as Quantum’s stock has shown remarkable momentum, surging over 340% in the past year. According to InvestingPro, the company’s shares have maintained strong momentum, gaining nearly 130% over the past six months.

The study, published in the European Journal of Nuclear Medicine and Molecular Imaging on August 5, 2025, evaluated the PET tracer [18F]3F4AP in both healthy controls and people with MS. Researchers found the tracer could detect differences across lesions not visible by conventional MRI.

The tracer was developed by Dr. Pedro Brugarolas, an investigator in the Department of Radiology at MGH and Assistant Professor at Harvard Medical School. Dr. Brugarolas conducted the study alongside Dr. Eric Klawiter, with funding from the National Institutes of Health.

According to the press release, the findings suggest the tracer could potentially serve as a biomarker to monitor changes in demyelination in MS patients and potentially measure responses to Quantum’s investigational drug, Lucid-21-302. The $88 million market cap company operates with moderate debt levels, though InvestingPro data shows it is not yet profitable, with an EBITDA of -$16.78 million in the last twelve months.

"The published study shows that the PET tracer is highly promising as a biomarker to detect and monitor lesions in people with MS," said Dr. Andrzej Chruscinski, Vice-President of Scientific and Clinical Affairs at Quantum BioPharma.

The ongoing collaborative study aims to further evaluate the imaging agent’s potential to demonstrate the effectiveness of drugs that can protect the myelin sheath in MS.

Quantum BioPharma is developing Lucid-21-302, described as a patented new chemical entity shown to prevent and reverse myelin degradation in preclinical models. Investors anticipating updates on this development should note that the company’s next earnings report is scheduled for August 13, just 5 days away. Get deeper insights into Quantum’s financial health and 8 additional exclusive ProTips with InvestingPro.

In other recent news, Quantum BioPharma Ltd. reported its second-quarter financial results, revealing an increase in current assets to $10.3 million, up from $9.9 million in the previous quarter, and total assets rising to $15.3 million. The company also announced the elimination of all debt liabilities, marking a significant financial milestone. Additionally, Quantum BioPharma completed a private placement of class A multiple voting shares, raising $600, with securities subject to a four-month hold period under Canadian law. In clinical developments, the company released a Phase 1 clinical study report for Lucid-MS, a treatment candidate for multiple sclerosis, indicating no safety or tolerability concerns in healthy participants. Furthermore, the first multiple sclerosis patient was scanned in a joint study with Massachusetts General Hospital using a novel PET imaging technique. This study aims to validate the technique for monitoring myelin integrity in MS patients. Quantum BioPharma’s recent activities reflect a focus on both financial growth and advancements in medical research.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.