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TORONTO - Quantum (NASDAQ:QMCO) BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91), a biopharmaceutical company with a current market capitalization of $7.51 million and trading at $3.84 per share, has announced that it will dual list its shares on Upstream, a MERJ Exchange market, starting Tuesday, January 14, 2025. The shares will be available for trading at 10:00am ET under the ticker symbol 'QNTM.'
This move is aimed at providing Quantum BioPharma with access to a broader global investor base, with the Upstream platform enabling trading via credit/debit card, PayPal (NASDAQ:PYPL), USD, or USDC. This could potentially enhance liquidity and price discovery for the company's shares. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 3.76, indicating its ability to meet short-term obligations. The stock currently appears undervalued based on InvestingPro's Fair Value assessment. Upstream, which operates 20 hours a day from Monday to Sunday, offers a trading environment characterized by real-time trading and settlement, as well as a transparent orderbook that prevents common market manipulations.
Non-U.S. investors interested in trading Quantum BioPharma's shares can prepare by downloading the Upstream app and completing the necessary identity verification. Existing non-U.S. shareholders can transfer their shares to Upstream by following a series of steps outlined in the company's instructions, including electronic signature verification.
Quantum BioPharma, through its subsidiary Lucid (NASDAQ:LCID) Psycheceuticals Inc., is focused on developing its lead compound, Lucid-MS, for the treatment of multiple sclerosis. While the company's stock has faced challenges with a -93.5% return over the past year, InvestingPro data reveals multiple growth opportunities and investment insights. Subscribers gain access to 12 additional ProTips and comprehensive financial analysis tools to make informed investment decisions. The company also retains a significant stake in Celly Nutrition Corp., from which it receives royalty payments on sales of the OTC version of its product UNBUZZD™.
The news of Quantum BioPharma's dual listing is based on a press release statement and reflects the company's ongoing efforts to build shareholder value and expand the reach of its potential drug candidates. Upstream, powered by Horizon's proprietary technology, provides a platform for international investors to engage in the trading of securities, although U.S. persons are currently not permitted to deposit, buy, or sell securities on it.
Quantum BioPharma has not only positioned itself in the development of treatments for serious health disorders but also maintains a portfolio of strategic investments through FSD Strategic Investments Inc., which focuses on loans secured by property.
The company's CEO, Zeeshan Saeed, expressed confidence that the dual listing supports their goal of shareholder value creation, as Quantum BioPharma continues to advance its drug candidates aimed at addressing neurodegenerative and metabolic disorders, as well as alcohol misuse disorders. With an overall Financial Health Score of FAIR according to InvestingPro, and analysts predicting profitability this year, the company shows potential for recovery despite recent market challenges.
In other recent news, Quantum BioPharma Ltd. has made significant strides in the biopharmaceutical sector. The company has advanced its clinical trial for the drug candidate Lucid-21-302, with the safety review committee recommending progression to the second cohort dosing phase. Quantum BioPharma has also announced a non-brokered private placement of convertible debenture units to raise capital for business development and general working capital.
In addition, the company has initiated legal action against CIBC (TSX:CM) World Markets and RBC Dominion Securities for alleged market manipulation. Quantum BioPharma's licensee, Celly Nutrition Corp., has entered into a master distribution agreement with FUSION Consulting Group to distribute its alcohol metabolism supplement, unbuzzd™, across Puerto Rico, the Caribbean, and parts of Central and South America.
Furthermore, Quantum BioPharma has announced a partnership with Ingenu CRO Pty Ltd to conduct an observational clinical study on primary progressive multiple sclerosis (MS). This research is a precursor to a future phase 2 clinical trial of the drug candidate Lucid-21-302, also known as Lucid-MS. These are recent developments in the biopharmaceutical sector.
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