Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $2.0752W HIGH $16.36
Volume
18.64 K
Value Traded
6.59 M
Short % Float
3.45%
-9.59%Week
-13.13%1 Month
-6.04%3 Month
-11.77%6 Month
-91.69%5 Year
-97.76%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
11.87 M
EPS (TTM)
-8.19
P/E Ratio
-
Ent. Value
42.65 M
Total Shares
3.82 M
Float Shares
7.03 M
Insiders
13.05%
Institutions
7.56%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
| Catalyst | Drug / Treatment | Stage | Prob. of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Example Drug Treatment for example condition requiring FDA review | Phase 3 | Small Molecule | Oncology | - |
PoA blends historical approval base rates, trial design score and FDA review track record.
QNTM Catalyst Timeline
Dated clinical, regulatory and corporate events for Quantum Biopharma Ltd.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Quantum Biopharma Ltd.
360Total events
10Upcoming
70Tier-1 (high impact)
2020 to 2029Coverage
Upcoming catalysts 2
Event history 50
▲IND ClearanceLucid-21-302IND
FDA clearance to launch Phase 2 trial of Lucid-MS in MS
multiple sclerosissource ↗
▲Trial InitiationLucid-21-302Trial
Phase 2 trial of Lucid-MS in MS cleared to launch
multiple sclerosissource ↗
▲IND ClearanceLucid-21-302IND
FDA clears IND for Phase 2 trial of Lucid-MS in MS
multiple sclerosissource ↗
▲Trial InitiationLucid-21-302Trial
Phase 2 trial of Lucid-MS cleared to launch in MS
multiple sclerosissource ↗
▲Timing GuidanceLucid-21-302Presentation
Phase 2 trial of Lucid-MS expected to begin following IND clearance
multiple sclerosissource ↗
▲IND ClearanceLucid-21-302IND
FDA clearance to begin Phase 2 trial of Lucid-MS in MS
multiple sclerosissource ↗
▲IND ClearanceLucid-21-302IND
FDA clearance to begin phase 2 trial of Lucid-MS
multiple sclerosissource ↗
▲IND ClearanceLucid-21-302IND
FDA clearance of IND for Lucid-MS Phase 2 trial in MS
Multiple Sclerosissource ↗
▲CHMP Positive OpinionMenQuadfiEx-US Regulatory
CHMP positive opinion for MenQuadfi infant indication
Invasive meningococcal diseasesource ↗
◆Management ChangeCorporate
Dr. Lakshmi P. Kotra resigned as director and from all positions at Quantum Biopharma
▼Clinical Hold PlacedLucid-21-302IND
FDA placed IND for Lucid-21-302 on clinical hold
multiple sclerosissource ↗
▲Enrollment MilestoneTrial
Patient enrollment reached halfway mark in imaging study with MGH
multiple sclerosissource ↗
●IND SubmissionLucid-21-302IND
IND application submitted to FDA for Lucid-MS
multiple sclerosissource ↗
▲Partnership / LicenseLucid-21-302Corporate
Binding LOI signed with Allucent for Phase 2 trial
multiple sclerosissource ↗
●Management ChangeCorporate
Appointment of Dr. Salvatore Napoli as principal investigator for Lucid-MS Phase 2 trial
▲IP Litigation RulingIP / Competition
Court ruled against CIBC and RBC motion to dismiss lawsuit
●Enrollment MilestoneTrial
PET imaging study reached halfway point in patient enrollment
multiple sclerosissource ↗
▲Interim Analysis[¹⁸F]3F4APTrial
Imaging research reached midpoint checkpoint
multiple sclerosissource ↗
▲Additional Data[¹⁸F]3F4APClinical Data
Imaging research reached midpoint checkpoint
multiple sclerosissource ↗
●Trial InitiationLucid-21-302Trial
Planned Phase 2 trial initiation for Lucid-MS
multiple sclerosissource ↗
●IND SubmissionLucid-21-302IND
IND submission for Lucid-MS planned in coming weeks
Multiple Sclerosissource ↗
▲Partnership / LicenseLucid-21-302Corporate
Binding LOI with Allucent to conduct Phase 2 trial of Lucid-MS in MS
multiple sclerosissource ↗
▲PublicationunbuzzdPresentation
Peer-reviewed journal publication of unbuzzd clinical trial results
alcohol intoxicationsource ↗
▼Equity OfferingunbuzzdCorporate
Unbuzzd launches Regulation D 506(c) offering to raise up to $5.0M
▲PublicationunbuzzdPresentation
Peer-reviewed publication of unbuzzd clinical trial in World Journal of Pharmaceutical and Medical Research
alcohol intoxication and hangoversource ↗
▼Equity OfferingCorporate
Closed initial tranche of private placement offering for $3,750,000
●IND SubmissionLucid-21-302IND
IND submission for Phase 2 trial of Lucid-MS submitted to FDA
multiple sclerosissource ↗
●Timing GuidancePresentation
Planned submission of New Animal Drug Application to FDA
gastro-intestinal diseases in dogs and catssource ↗
▲Product LaunchunbuzzdPost-Market
Nationwide rollout of unbuzzd in the United States
hangover remedy / alcohol metabolism accelerantsource ↗
▲PublicationunbuzzdPresentation
Peer-reviewed clinical study on unbuzzd published in World Journal of Pharmaceutical and Medical Research
alcohol intoxication / alcohol metabolismsource ↗
▲Trial CompletionLucid-21-302Trial
Phase 1 oral toxicity studies of 3 and 6 months complete
multiple sclerosissource ↗
●IND Enabling CompleteLucid-21-302Preclinical
Commenced toxicology study to be completed in 2025
multiple sclerosissource ↗
▲Enrollment CompleteLucid-21-302Trial
Completion of dosing in 180-day repeated dose oral toxicity and toxicokinetic studies
multiple sclerosissource ↗
◆ATM ProgramCorporate
Entry into at-the-market offering agreement with Rodman & Renshaw for up to US$17,243,174
▲Equity OfferingunbuzzdCorporate
Unbuzzd Wellness launched capital raise of up to $5M USD
Alcohol metabolismsource ↗
◆IP Litigation RulingIP / Competition
Quantum filed opposition to CIBC and RBC motion to dismiss
◆Oral PresentationunbuzzdPresentation
Unbuzzd Investor Webinar to discuss investment opportunity
alcohol metabolismsource ↗
Past FDA Catalysts and PDUFA Decisions
How QNTM actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-06-30 | Lucid-21-302 (Lucid-MS) | IND Submission | IND |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
F18 / 100
Pipeline Score
$0M
Pipeline Value
Richly Valued
Valuation Signal
1
Drugs Scored
0.0x
rNPV / MCap
Top 96%
Micro Cap(rank 632 of 658)
Percentile Rank
Quantum Biopharma Ltd. has significant pipeline risk (18/100), with $106M risk-adjusted pipeline value, led by Lucid-21-302 in Healthy Participants (Phase 1).
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Lucid-21-302 Small moleculeCompletedNCT06595706 | Heathy Participants | Phase 1 | COMPLETED | 16 | Jan 24, 2025 |
Clinical Trial Results
Readouts, endpoints and source filings for every QNTM program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| Lucid-MS | multiple sclerosis | 2026-05-18 | Preliminary analyses indicate robust signal in acute MS lesions and potential sensitivity to gray matter lesions.Read More | Quantum BioPharma Reaches Key Midpoint Milestone in Groundbreaking Imaging Study with Massachusetts General HospitalRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| John SmithCEO | Buy | 50,000 150,000 held | $45.50 | 01/10/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in QNTM
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| No hedge fund reported a 13F position in QNTM for Q2 2026. | ||||
QNTM Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How QNTM ranks across every disease it competes in
Competitive Position is a premium feature
See how QNTM ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialQNTM News
QNTMQuantum BioPharma Ltd. (NASDAQ: QNTM) Filling Key Gap in MS Treatment, Cleared by FDA to Launch Historic Trials
Quantum BioPharma Ltd. has received FDA clearance to initiate a phase 2 trial for Lucid-MS, a first-in-class treatment for multiple sclerosis. This innovative candidate aims to protect and potentially rebuild the myelin sheath, addressing a critical gap in current MS therapies. The trial marks a historic moment in MS treatment, attracting positive attention from Wall Street analysts.
Read more →QNTM▼ -8.1%on this newsshared move
Historic First in MS Treatment Could Reshape a Multibillion-Dollar Therapeutics Market
Quantum BioPharma has received FDA clearance to launch a phase 2 trial for Lucid-MS, a novel treatment for multiple sclerosis. This marks the first time a drug targeting demyelination directly will be tested in MS patients. The trial aims to assess whether Lucid-MS can restore lost functions rather than merely managing symptoms, a significant advancement in MS treatment options.
Read more →QNTM▲ +8.8%on this newsshared move
Quantum BioPharma Ltd. NASDAQ: QNTM) Receives FDA Clearance to Begin Trials for Historic MS Treatment
Quantum BioPharma Ltd. has received FDA clearance to initiate a phase 2 trial for its innovative drug candidate, Lucid-MS, targeting multiple sclerosis. This trial marks a historic moment as it aims to protect and potentially repair the myelin sheath, a first in the treatment of MS. The development has garnered positive attention from Wall Street analysts, who have issued a buy rating.
Read more →QNTMA Micro-Cap Biotech Just Cleared a Milestone Most Never Reach
Quantum BioPharma Ltd. has received FDA clearance to begin a phase 2 trial for Lucid-MS, a novel drug candidate aimed at protecting and potentially repairing the myelin sheath in multiple sclerosis patients. This marks a significant milestone as it is the first time a drug targeting demyelination will be tested in humans. The company has also established a research partnership with Massachusetts General Hospital and Harvard Medical School to enhance its research efforts.
Read more →QNTMQuantum BioPharma Ltd. (NASDAQ: QNTM) Advancing Innovative, First-in-Class, Patented MS Therapy
Quantum BioPharma Ltd. is developing Lucid-MS, a patented therapy aimed at treating multiple sclerosis by directly targeting the myelin sheath. Currently, there are no cures for MS, and existing treatments can only slow its progression. The company is preparing to advance Lucid-MS into phase 2 clinical trials, marking a significant step in its development.
Read more →QNTMThe Quest to Repair What Multiple Sclerosis Takes Away
Quantum BioPharma is advancing Lucid-MS, a novel drug candidate aimed at treating multiple sclerosis (MS) by directly targeting the myelin sheath. Currently preparing for phase 2 clinical trials, Lucid-MS has shown promise in preclinical studies, demonstrating the potential to protect myelin from degradation. This innovative approach could represent a significant breakthrough in MS treatment, addressing a critical unmet need in the market.
Read more →QNTM▲ +5.2%on this newsshared move
Quantum BioPharma Ltd. (NASDAQ: QNTM) Developing Patented, First-in-Class MS Treatment That Offers Different Approach
Quantum BioPharma Ltd. is advancing Lucid-MS, a patented drug candidate aimed at treating multiple sclerosis (MS) by targeting the myelin sheath. This innovative approach seeks to address a significant unmet need in MS treatment, as current therapies can only slow disease progression. The company is preparing to initiate phase 2 clinical trials for Lucid-MS.
Read more →QNTMNovel Patented Myelin Drug-Discovery Strategy Targets Massive Unmet Need in Multiple Sclerosis
Quantum BioPharma is advancing Lucid-MS, a first-in-class drug candidate targeting the myelin sheath in multiple sclerosis (MS). Unlike existing treatments that modulate the immune system, Lucid-MS aims to prevent and potentially reverse myelin degradation. The company is preparing to enter phase 2 clinical trials after successful phase 1 results, highlighting a promising new approach to treating MS.
Read more →QNTMQuantum BioPharma Engages Stocks.news For Investor Relations, Marketing Services And Lead Generation Campaigns
Quantum BioPharma Ltd. has signed a six-month agreement with Stocks.news for investor relations and marketing services, starting June 8, 2026. The deal, valued at $250,000, aims to enhance the company's visibility and engagement with potential investors. The agency will provide various services, including media distribution and lead generation campaigns.
Read more →QNTMQuantum BioPharma Provides Corporate Update
Quantum BioPharma has received a clinical hold notice from the FDA regarding its drug candidate, Lucid-21-302 (Lucid-MS), for treating multiple sclerosis. The company is working closely with the FDA to address the agency's concerns, which they believe are manageable. As a consequence, Quantum has retracted its previously stated timelines for FDA review and upcoming trials. Moreover, the resignation of Dr. Lakshmi P. Kotra from his directorial role could affect the company’s governance structure as they navigate these challenges.
Read more →QNTM▼ -7.9%on this news
Quantum BioPharma Reaches Key Midpoint Milestone in Groundbreaking Imaging Study with Massachusetts General Hospital
Quantum BioPharma has achieved a significant milestone in its imaging study with Massachusetts General Hospital, reaching halfway in patient enrollment. Preliminary results indicate the PET imaging technique shows promise in assessing demyelination in multiple sclerosis patients. This advancement could transform treatment monitoring and enhance the evaluation of Quantum's investigational candidate, Lucid-MS.
Read more →QNTM▼ -5.1%on this news
Quantum Reports Strengthened Liquidity, Reduced Cash Burn, and Disciplined Cost Management in First Quarter 2026
Quantum BioPharma Ltd. reported strong financial results for Q1 2026, with liquidity more than doubling to US$11.2 million. The company achieved a significant reduction in cash burn and submitted an IND application for its MS drug candidate, Lucid-MS, to the FDA. Additionally, Quantum is pursuing a lawsuit against CIBC and RBC regarding alleged stock market manipulation.
Read more →QNTMQuantum Biopharma Ltd. (formerly, FSD Pharma Inc.) Condensed consolidated interim financial statements For the three months ended
Quantum Biopharma Ltd. reported its financial results for the three months ending March 31, 2026. The company faced a significant net loss of $13,753,564, compared to a loss of $8,739,881 for the same period in 2025. Operating expenses were reported at $2,966,305, which slightly decreased year-over-year but contributed to the ongoing financial challenges. The company's accumulated deficit continues to rise, reflecting its ongoing struggles within its business model and market environment.
Read more →QNTMQuantum BioPharma Licensee Unbuzzd Wellness Inc. Appoints Richard Buzbuzian as CEO to Lead Nationwide Commercialization of Innovative, Clinically Validated Hangover Remedy and Alcohol Metabolism Accelerant
Quantum BioPharma announced the appointment of Richard Buzbuzian as CEO of Unbuzzd Wellness Inc. to lead the commercialization of its clinically validated hangover remedy, unbuzzd. This appointment is part of a strategy to capitalize on the growing functional beverage market, projected to reach $198 billion by 2026. The company aims to expand its product's availability starting in South Florida and Texas while also planning for a stock exchange listing. Unbuzzd stands out in the wellness sector due to its peer-reviewed clinical study that supports its efficacy in alcohol metabolism and hangover symptom relief.
Read more →QNTM▼ -9.8%on this news
Quantum BioPharma Wins Significant Court Challenge in USD $700,000,000 Claim as Defendants Joint Motion to Dismiss Lawsuit Alleging Market Manipulation by CIBC World Markets and RBC Dominion Securities is Denied
Quantum BioPharma Ltd. announced a court ruling in its favor regarding a lawsuit against CIBC World Markets and RBC Dominion Securities. The U.S. District Court for the Southern District of New York denied the defendants' joint motion to dismiss the case, which accuses them of market manipulation through 'spoofing' techniques. The allegations pertain to actions taken between January 1, 2020, and August 15, 2024, which violated SEC regulations. This ruling allows Quantum BioPharma to continue pursuing its claims in court.
Read more →QNTM▼ -8.7%on this news· ran to -20% by day 3shared move
Quantum BioPharma Submits Investigational New Drug (IND) Application to United States Food and Drug Administration (FDA) for Lucid-MS Phase Two Clinical Trial in Multiple Sclerosis
Quantum BioPharma has submitted an Investigational New Drug application to the FDA for its drug candidate Lucid-MS, aimed at treating multiple sclerosis. This submission marks a significant step in the company's clinical development pipeline and reflects its commitment to innovative treatments. The planned Phase 2 trial will assess the drug's efficacy and safety, building on favorable results from earlier trials.
Read more →QNTM▼ -10.3%on this newsshared move
Quantum BioPharma Signs Binding Letter Of Intent With Allucent To Conduct Phase 2 Clinical Trial In Multiple Sclerosis
Quantum BioPharma has entered a binding Letter of Intent with Allucent to conduct a Phase 2 clinical trial for Lucid-MS, aimed at treating multiple sclerosis. This partnership marks a significant milestone in Quantum's clinical development, focusing on neuroprotection rather than immune modulation. The trial is expected to begin in Q2 2026, pending regulatory approvals.
Read more →QNTM▲ +24.5%on this newsshared move
Quantum Biopharma’s 2025 Audited Year End Financial Results Maintain ‘No Going Concern’ Status
Quantum BioPharma Ltd. reported its audited financial results for 2025, highlighting a strong cash position and reduced operating expenses. The company completed Phase 1 trials for its multiple sclerosis drug candidate, Lucid-MS, showing no toxicity. Additionally, it published positive results for its dietary supplement, unbuzzd, in a peer-reviewed journal. The company is preparing for a Phase 2 trial and has secured a product license for Qlarity from Health Canada.
Read more →About Quantum Biopharma Ltd.
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