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TORONTO - Quantum BioPharma Ltd. (NASDAQ:QNTM), a small-cap biotech company with a market capitalization of $64 million and an impressive 349% year-to-date stock performance, announced Thursday it has received two final reports for its multiple sclerosis drug candidate Lucid-21-302 (Lucid-MS). InvestingPro analysis reveals 10 key investment factors for QNTM, including its recent market momentum and financial health metrics.
The biopharmaceutical company, currently trading at $16.53 per share, said it has obtained the 90-day oral toxicity study report and the toxicokinetic study report for Lucid-MS, which will support its Investigational New Drug (IND) application with the U.S. Food and Drug Administration for a phase 2 clinical trial.
"These reports will be used to support Quantum’s IND application to the US FDA, further advancing the Lucid-MS drug development program," said Dr. Andrzej Chruscinski, Vice-President of Scientific and Clinical Affairs at Quantum Biopharma.
The company describes Lucid-MS as a patented new chemical entity that has shown prevention and reversal of myelin degradation in preclinical models. Myelin degradation is the underlying mechanism of multiple sclerosis. According to InvestingPro data, the company operates with moderate debt levels but faces near-term financial challenges, with short-term obligations exceeding liquid assets.
Anthony Durkacz, Executive Co-Chairman of Quantum BioPharma, stated that with these final reports, the company moves "significantly closer to initiating our Phase 2 trial of Lucid-MS in people with Multiple Sclerosis."
Quantum BioPharma focuses on developing treatments for neurodegenerative and metabolic disorders as well as alcohol misuse disorders. The company maintains operations through its wholly owned subsidiary, Lucid Psycheceuticals Inc.
The information in this article is based on a press release statement from Quantum BioPharma. Investors should note that the company’s next earnings report is scheduled for November 6, 2025. For comprehensive financial analysis and additional insights, visit InvestingPro, which offers detailed metrics and professional analysis tools.
In other recent news, Quantum BioPharma Ltd. announced that Health Canada has granted a product license for its natural health product, Qlarity. This license allows the company to sell Qlarity in Canada, with uses that include enhancing physical energy and cognitive performance. Additionally, Quantum BioPharma’s shareholders have approved all resolutions at the company’s annual meeting, which included a proposal for a private placement of Class A multiple voting shares. The private placement aims to raise gross proceeds of up to $600.
Furthermore, Quantum BioPharma has appointed Dr. Jack Antel as a clinical advisor for its multiple sclerosis program, focusing on the investigational drug Lucid-21-302. In another development, Quantum BioPharma’s subsidiary, Huge Biopharma Australia, has signed a manufacturing agreement to produce an oral formulation of Lucid-MS. This formulation will be used in an upcoming Phase 2 clinical trial to test its efficacy in treating mobility loss associated with multiple sclerosis. These developments reflect the company’s ongoing efforts in advancing its product pipeline and expanding market presence.
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