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Investing.com -- Quantum BioPharma Ltd (NASDAQ:QNTM) stock fell 2.5% following the announcement of its Phase 1 clinical study report for Lucid-MS, a multiple sclerosis treatment candidate.
The company reported that its subsidiary, Huge Biopharma Australia, received the clinical study report (CSR) for its Phase 1 trial evaluating the safety and pharmacokinetics of Lucid-MS in healthy adult participants. According to the report, the multiple ascending dose study showed no safety or tolerability concerns in healthy participants following consecutive daily dosing.
Lucid-MS is described as a first-in-class, non-immunomodulatory, neuroprotective compound with a unique mechanism of action for treating multiple sclerosis. The patented New Chemical Entity has demonstrated the ability to prevent demyelination in preclinical models, a characteristic damage to the myelin sheath surrounding nerve fibers seen in MS and other neurodegenerative diseases.
Dr. Andrzej Chruscinski, Vice-President of Clinical and Scientific Affairs at Quantum BioPharma, stated that the CSR is a critical component for the company’s investigational new drug application with the FDA and will allow them to advance the clinical development of Lucid-MS.
Dr. Lakshmi P. Kotra, Director at Quantum BioPharma and Professor at University of Toronto, who led the discovery of Lucid-MS, added that the company is preparing to launch efficacy trials in patients with MS following these first-in-human studies.
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