Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
TORONTO - Quantum BioPharma Ltd. (NASDAQ:QNTM), currently trading at $16.32 and showing a -11.74% decline over the past week despite a remarkable 90.65% gain over six months, announced Monday that shareholders approved all resolutions during the company’s annual general and special meeting held on September 26, 2025.
Shareholders representing 100% of Class A multiple voting shares and 46.352% of Class B subordinate voting shares participated in the meeting, according to a company press release.
All seven director nominees listed in the management information circular were elected to serve until the next annual meeting. The slate includes Anthony Durkacz, Zeeshan Saeed, Dr. Lakshmi P. Kotra, Adnan Bashir, Terry Lynch, Michael Zapolin, and Dr. Eric Hoskins, with each receiving more than 99.6% approval.
Shareholders also re-appointed MNP LLP as the company’s auditor with 99.588% of votes in favor. Additionally, holders of Class B subordinate voting shares passed a resolution authorizing the board to issue up to 56 additional Class A multiple voting shares until the next annual meeting, with 90.992% approval.
Quantum BioPharma focuses on developing treatments for neurodegenerative and metabolic disorders, with its lead compound Lucid-MS currently in preclinical development for multiple sclerosis. The company also maintains a stake in Unbuzzd Wellness Inc. and retains rights to develop pharmaceutical formulations of similar products.
Each Class A multiple voting share carries 276,660 votes, significantly more than Class B subordinate voting shares, which carry one vote each.
Detailed voting results are available under the company’s SEDAR+ profile, according to the press release.
In other recent news, Quantum BioPharma Ltd. reported strong second-quarter financial results, highlighting increased assets and the elimination of all debt liabilities. As of June 30, the company’s current assets rose to $10.3 million, up from $9.9 million in the previous quarter, with total assets increasing to $15.3 million. Additionally, Health Canada has granted a product license for Quantum BioPharma’s natural health product, Qlarity, allowing its sale in Canada for various health benefits. The company is also seeking shareholder approval for a private placement of class A multiple voting shares, aiming to raise gross proceeds of up to $600. In another development, Quantum BioPharma’s subsidiary, Huge Biopharma Australia, has signed a manufacturing agreement for the oral formulation of Lucid-MS, intended for use in a Phase 2 clinical trial targeting multiple sclerosis. Furthermore, a PET tracer study conducted in collaboration with Massachusetts General Hospital showed promising results for monitoring MS lesions, with findings published in a scientific journal. These developments reflect Quantum BioPharma’s ongoing efforts in product innovation and financial growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.