Los Angeles, California--(Newsfile Corp. - June 18, 2025) - Singular Research, a leading provider of independent research on small-cap companies, today released its analysis of Quantum BioPharma Ltd.'s (NASDAQ: QNTM) continued progress across its innovative pipeline of treatments for brain disorders and alcohol health.
A link to the report is available here: https://files.constantcontact.com/1683279a601/2551ab59-a629-4103-8f4b-fa3fbf21f4a5.pdf?rdr=true
Clinical Development Milestones
Quantum BioPharma has achieved significant progress with its FSD202 program, receiving human ethics review committee (HREC) approval for a Phase 2 clinical trial targeting nociplastic pain in patients with Idiopathic Mast Cell Activation Syndrome (MCAS). The randomized, double-blind trial will enroll 60 patients who will receive FSD202 or placebo twice daily for 56 consecutive days, with the primary outcome measuring decrease in average daily pain intensity from baseline to Day 28. This advancement addresses a significant unmet medical need, as no cure currently exists for MCAS, and FSD202 has potential applications across a wide range of inflammatory diseases.
The Company continues to advance its flagship Lucid-MS program, expecting to file an IND application package for Lucid-21-302 with the U.S. FDA in Q4 2025. A successful IND filing would represent a critical validation milestone and enable advancement to Phase 2 trials for this proprietary compound designed to treat progressive Multiple Sclerosis through a non-immunomodulatory approach. To support this development, Quantum BioPharma has initiated a joint study with Massachusetts General Hospital using PET imaging to evaluate Lucid-MS efficacy, with the first patient already scanned using this technique as a potential biomarker.
Strategic Business Developments
The Company's subsidiary Celly Nutrition has changed its name to Unbuzzd Wellness Inc. and engaged leading audit firm MNP LLP to conduct PCAOB audits in preparation for a potential initial public offering. This IPO preparation will provide access to capital for enhanced marketing and distribution of the unbuzzd™ formulation, a natural product designed to expedite alcohol metabolism and reduce Blood Alcohol Content. Quantum BioPharma maintains a 20.11% stake in Unbuzzd Wellness, positioning the Company to benefit from the subsidiary's growth trajectory.
Quantum BioPharma has continued diversifying its treasury holdings toward Bitcoin, with total BTC investment reaching $5 million as of June 10, 2025. Additionally, the Company announced plans for a special dividend comprising Contingent Value Rights (CVRs) to be issued on a 1:1 basis to shareholders. These CVRs are linked to potential litigation proceeds exceeding $700 million related to alleged stock manipulation, with each CVR entitling holders to a pro rata share of 10-50% of any proceeds received.
Q1 2025 Financial Performance
Quantum BioPharma reported no revenues for Q1 2025 as the Company remains in clinical development stage. General and administrative expenses decreased 31% to $1.32 million compared to Q1 2024, reflecting disciplined cost management while advancing clinical programs. Research and development expenditure increased significantly to $1.65 million, reflecting reinitiated development efforts for the FSD202 drug candidate. The Company maintained cash and cash equivalents of $3.5 million as of March 31, 2025, with management confirming sufficient liquidity to advance clinical assets and meet operational requirements through Q1 2027.
Pipeline Overview
Quantum BioPharma maintains a robust pipeline addressing critical unmet medical needs across brain disorders and alcohol health. The Company's lead programs include Lucid-MS, a proprietary compound for progressive Multiple Sclerosis utilizing a unique non-immunomodulatory approach; FSD202, an ultra-micronized palmitoylethanolamide formulation targeting MCAS and other inflammatory diseases; and unbuzzd™, a natural formulation designed to expedite alcohol metabolism and reduce Blood Alcohol Content.
Research Methodology:
Singular Research conducts comprehensive analysis using risk-adjusted discounted cash flow models and peer comparable methodologies to evaluate clinical-stage biotechnology companies. The firm maintains Buy-Venture rating reflecting the early-stage nature and significant potential of Quantum BioPharma's innovative pipeline.
Contact: Singular Research
818-222-6234
research@singularresearch.com
About Singular Research Singular Research aims to be the most trusted supplier of independent research, providing unbiased research on small-cap companies. Visit www.singularresearch.com for more information.
About Quantum BioPharma Ltd. Quantum BioPharma Ltd. (NASDAQ: QNTM) is a clinical-stage biotechnology company dedicated to pioneering treatments for critical gaps in brain disorders and alcohol health. The Company's pipeline includes innovative therapies targeting Multiple Sclerosis, Mast Cell Activation Syndrome, and alcohol metabolism enhancement.
Disclaimer: This press release contains forward-looking statements and analysis based on current information. Actual results may differ materially from those projected. For full disclosures, please visit www.singularresearch.com.
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