QUANTUM GENOMICS ORD - QNNTF STOCK NEWS

Quantum Genomics, a biopharmaceutical company focused on treating resistant hypertension and heart failure, announced the initiation of coverage by Bryan Garnier & Co. on October 6, 2022. The firm has issued a buy recommendation, valuing Quantum Genomics at €13 per share, translating to a market cap of €450 million. This comes ahead of the anticipated results from the FRESH phase III study set to be revealed in November 2022 at the American Heart Association conference.

Quantum Genomics, a biopharmaceutical company focused on innovative treatments for resistant hypertension and heart failure, reported its first half 2022 financial results. The company enrolled the last patient in its pivotal FRESH study and will present results at the American Heart Association conference on November 7. Financially, it reported operating income of €2.9 million, a net loss of €8.8 million, and a significant increase in shareholder equity to €19.7 million after a €17.5 million capital increase in April 2022. Available cash reached €19.5 million, ensuring funding until Q2 2023.

Quantum Genomics announced the presentation of results from its phase III study, FRESH, targeting resistant hypertension, scheduled for November 7, 2022, at the American Heart Association conference in Chicago. This pivotal study involves 515 patients across multiple countries and aims to demonstrate the efficacy and safety of firibastat, a new treatment approach. The results are expected to aid in the submission of regulatory files to authorities in the US and Europe.

Quantum Genomics, a biopharmaceutical company focused on innovative cardiovascular drugs, has announced the formation of a new Scientific Advisory Board. The board includes renowned experts like Professors George L. Bakris, Gregory Y. H. Lip, and Atul Pathak. This strategic move coincides with the upcoming market launch of Firibastat, aimed at treating resistant hypertension and heart failure. The advisory board will guide clinical development and registration strategies, enhancing the company's credibility in the competitive pharmaceutical landscape.

Quantum Genomics has successfully recruited all patients for its pivotal Phase III study, FRESH, aimed at evaluating firibastat's efficacy in treating resistant hypertension. The study involves patients from 69 hospitals across Europe, Canada, the U.S., and Latin America, where firibastat is administered alongside existing treatments. Initial results are anticipated in late October 2022, with findings to be presented at the American Heart Association congress. The company plans to submit a marketing authorization application by Q3 2023.

Quantum Genomics has announced the appointment of Sarah Merlen-Boulenger as the new Head of Regulatory Affairs. This strategic move aims to bolster the company’s efforts in preparing the registration dossier for firibastat, a drug targeting difficult-to-treat hypertension and heart failure. Merlen-Boulenger's extensive background in regulatory affairs, including roles at Sanofi and Ethypharm, will aid in filing a New Drug Application with the FDA and obtaining marketing authorization in Europe. CEO Jean-Philippe Milon emphasized the importance of strengthening the team for the successful launch of firibastat.

Quantum Genomics reported its full-year 2021 results, highlighting a financial landscape shaped by ongoing pandemic challenges. Operating revenues rose to €3.2 million, an increase from €2.3 million in 2020, but operating losses widened to (€19.2 million) from (€13.9 million). The company raised €17.5 million in capital, bolstering its finances until Q2 2023. The CEO expressed optimism for the firibastat launch targeting resistant hypertension by late 2023, while emphasizing progress in clinical trials.

Quantum Genomics announced a successful capital increase of approximately 15.6 M€ by issuing 6,408,779 new shares at a price of 2.44 € per share, representing a 15% discount on the last market price. This move, aimed at funding the development of firibastat and exploring new therapeutic areas, strengthens their financial position. The pharmaceutical company Julphar invested 1.87 M€ as part of the deal, reinforcing a partnership for marketing firibastat in several regions. Post-deal liquidity is estimated at 23.6 M€, covering operations until Q2 2023.

Quantum Genomics has launched a capital increase of approximately €15 million aimed at institutional investors, with a minimum of €12 million already committed. This funding will support the market launch of its drug firibastat and explore new therapeutic avenues via its patented BAPAIs technology. Noteworthy contributors include Otium Capital, which subscribed €10 million, and Gulf Pharmaceutical Industries Julphar, which is investing $2 million. The deal is crucial for the company's objectives, seeking first registration for firibastat by late 2023 amid ongoing Phase III trials.