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Quantum Biopharma's 2024 Financial Statements Show Strong Improvements in Cash, Working Capital, Operating Efficiency and the Removal of Material Uncertainty Related to Going Concern

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Quantum BioPharma (NASDAQ:QNTM) has reported strong financial improvements for Q4 and full year 2024. The company's cash position strengthened to $12.1M USD, up from $11.1M in 2023. Operating expenses decreased by 32% to $16.1M, while net loss improved by 18% to $14.9M compared to 2023.

Key developments include:

  • Completion of unbuzzd™ clinical trial showing 40% faster reduction in Blood Alcohol Concentration
  • Successful Phase 1 trial of Multiple Sclerosis drug Lucid-21-302
  • Material Uncertainty Related to Going Concern removed with sufficient working capital through January 2027
  • Strategic purchase of $3.5M in Bitcoin and cryptocurrencies
  • Dual listing on Upstream exchange

The company's licensee, Celly Nutrition, is exploring an IPO and has secured distribution agreements in Puerto Rico, Caribbean, and parts of Central and South America for unbuzzd.

Quantum BioPharma (NASDAQ:QNTM) ha riportato forti miglioramenti finanziari per il quarto trimestre e l'intero anno 2024. La posizione di liquidità dell'azienda è migliorata a 12,1 milioni di dollari, in aumento rispetto agli 11,1 milioni del 2023. Le spese operative sono diminuite del 32% a 16,1 milioni, mentre la perdita netta è migliorata del 18% a 14,9 milioni rispetto al 2023.

Sviluppi chiave includono:

  • Completamento della sperimentazione clinica di unbuzzd™ che mostra una riduzione del 40% della concentrazione di alcol nel sangue
  • Sperimentazione di Fase 1 del farmaco per la sclerosi multipla Lucid-21-302
  • Rimozione dell'incertezza materiale relativa alla continuità aziendale con capitale circolante sufficiente fino a gennaio 2027
  • Acquisto strategico di 3,5 milioni di dollari in Bitcoin e criptovalute
  • Dual listing sulla borsa Upstream

Il licenziatario dell'azienda, Celly Nutrition, sta esplorando un'IPO e ha ottenuto accordi di distribuzione a Porto Rico, nei Caraibi e in alcune parti dell'America Centrale e Meridionale per unbuzzd.

Quantum BioPharma (NASDAQ:QNTM) ha reportado fuertes mejoras financieras para el cuarto trimestre y el año completo 2024. La posición de efectivo de la compañía se fortaleció a 12.1 millones de dólares, un aumento desde los 11.1 millones en 2023. Los gastos operativos disminuyeron un 32% a 16.1 millones, mientras que la pérdida neta mejoró un 18% a 14.9 millones en comparación con 2023.

Los desarrollos clave incluyen:

  • Finalización del ensayo clínico de unbuzzd™ que muestra una reducción del 40% en la concentración de alcohol en sangre
  • Ensayo de Fase 1 exitoso del fármaco para la esclerosis múltiple Lucid-21-302
  • Eliminación de la incertidumbre material relacionada con la continuidad empresarial con suficiente capital de trabajo hasta enero de 2027
  • Compra estratégica de 3.5 millones de dólares en Bitcoin y criptomonedas
  • Listado dual en la bolsa Upstream

El licenciatario de la compañía, Celly Nutrition, está explorando una OPI y ha asegurado acuerdos de distribución en Puerto Rico, el Caribe y partes de Centro y Sudamérica para unbuzzd.

Quantum BioPharma (NASDAQ:QNTM)는 2024년 4분기 및 전체 연도에 대한 강력한 재무 개선을 보고했습니다. 회사의 현금 보유액은 1,210만 달러로 증가했으며, 2023년의 1,110만 달러에서 상승했습니다. 운영 비용은 32% 감소하여 1,610만 달러에 이르렀고, 순손실은 2023년 대비 18% 개선되어 1,490만 달러로 줄어들었습니다.

주요 개발 사항은 다음과 같습니다:

  • 혈중 알코올 농도 40% 감소를 보여주는 unbuzzd™ 임상 시험 완료
  • 다발성 경화증 약물 Lucid-21-302의 성공적인 1상 시험
  • 2027년 1월까지 충분한 운영 자본으로 계속 사업을 할 수 있는 불확실성 제거
  • 3.5백만 달러 상당의 비트코인 및 암호화폐 전략적 구매
  • Upstream 거래소에서의 이중 상장

회사의 라이센스 보유자인 Celly Nutrition은 IPO를 탐색 중이며, unbuzzd를 위해 푸에르토리코, 카리브해, 중앙 및 남미의 일부 지역에서 유통 계약을 확보했습니다.

Quantum BioPharma (NASDAQ:QNTM) a rapporté de fortes améliorations financières pour le quatrième trimestre et l'année complète 2024. La position de liquidités de l'entreprise s'est renforcée à 12,1 millions de dollars, contre 11,1 millions en 2023. Les dépenses d'exploitation ont diminué de 32 % pour atteindre 16,1 millions, tandis que la perte nette s'est améliorée de 18 % pour atteindre 14,9 millions par rapport à 2023.

Les développements clés incluent :

  • Achèvement de l'essai clinique unbuzzd™ montrant une réduction de 40 % de la concentration d'alcool dans le sang
  • Essai de Phase 1 réussi du médicament contre la sclérose en plaques Lucid-21-302
  • Suppression de l'incertitude matérielle liée à la continuité de l'exploitation avec un fonds de roulement suffisant jusqu'en janvier 2027
  • Achat stratégique de 3,5 millions de dollars en Bitcoin et cryptomonnaies
  • Double cotation sur la bourse Upstream

Le licencié de l'entreprise, Celly Nutrition, envisage une introduction en bourse et a sécurisé des accords de distribution à Porto Rico, dans les Caraïbes et dans certaines parties de l'Amérique centrale et du Sud pour unbuzzd.

Quantum BioPharma (NASDAQ:QNTM) hat starke finanzielle Verbesserungen für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Die Liquiditätsposition des Unternehmens verbesserte sich auf 12,1 Millionen USD, ein Anstieg von 11,1 Millionen im Jahr 2023. Die Betriebskosten sanken um 32% auf 16,1 Millionen, während der Nettoverlust um 18% auf 14,9 Millionen im Vergleich zu 2023 verbessert wurde.

Wichtige Entwicklungen umfassen:

  • Abschluss der klinischen Studie zu unbuzzd™, die eine 40% schnellere Reduzierung der Blutalkoholkonzentration zeigt
  • Erfolgreiche Phase-1-Studie des Multiple-Sklerose-Arzneimittels Lucid-21-302
  • Entfernung der wesentlichen Unsicherheit im Zusammenhang mit der Fortführungsfähigkeit durch ausreichendes Betriebskapital bis Januar 2027
  • Strategischer Kauf von 3,5 Millionen USD in Bitcoin und Kryptowährungen
  • Duale Notierung an der Upstream-Börse

Der Lizenznehmer des Unternehmens, Celly Nutrition, prüft einen Börsengang und hat Vertriebsvereinbarungen in Puerto Rico, der Karibik sowie Teilen von Mittel- und Südamerika für unbuzzd gesichert.

Positive
  • Operating expenses reduced by 32% to $16.1M USD
  • Net loss improved by 18% to $14.9M USD
  • Cash position increased to $12.1M USD from $11.1M
  • Material Uncertainty Related to Going Concern removed
  • Successful clinical trial results for unbuzzd showing 40% faster BAC reduction
  • Positive Phase 1 trial results for MS drug Lucid-21-302
  • New distribution agreements secured for unbuzzd in multiple markets
Negative
  • R&D expenses increased by 56% to $6.1M USD
  • General & Administrative expenses increased to $9.4M USD
  • Net loss remains significant at $14.9M USD despite improvement

Insights

Quantum BioPharma's 2024 financial results represent a significant turnaround in their operational health. The removal of Material Uncertainty Related to Going Concern is particularly noteworthy for a small-cap biotech company. This milestone signals to investors that the company has moved from survival mode to a more stable operational foundation.

The financial improvements are substantial across multiple metrics. Cash position improved to $12.1 million (up from $11.1 million year-over-year) while operating expenses decreased by 32% to $16.1 million. The company also reduced cash burn from operations by 36%, now at $6.9 million annually. These efficiency improvements occurred while simultaneously increasing R&D investment to $6.1 million – a positive indicator that cost-cutting hasn't come at the expense of pipeline development.

Management's projection of sufficient cash runway until January 2027 provides exceptional visibility and operational flexibility rarely seen in development-stage biotech companies. The dramatic reduction in accounts payable from $4.4 million to under $1 million further strengthens their balance sheet position.

The $3.5 million cryptocurrency investment represents an unconventional treasury management strategy that introduces both potential upside and additional volatility risk. While this approach diversifies their holdings, it also exposes the company to crypto market fluctuations that traditional biotechs typically avoid.

The potential IPO of licensee Celly Nutrition could create meaningful value for Quantum as the licensor of unbuzzd technology. As unbuzzd gains distribution through new partnerships, this asset could develop into a reliable revenue stream to support the company's more clinical-stage assets.

Quantum BioPharma's clinical progress demonstrates material advancement across multiple pipeline assets. The successful completion of the unbuzzd crossover clinical trial yielded statistically significant results showing 40% faster reduction in blood alcohol concentration within 30 minutes. Beyond the BAC reduction, the trial demonstrated improvements in alertness, reduced perceived impairment, and hangover relief – all critical factors for commercial adoption in this consumer health category.

The commercialization strategy for unbuzzd is gaining traction through the FUSION Distribution partnership, expanding market reach into Puerto Rico, Caribbean, and parts of Latin America. The parallel development of rekvry for medical/emergency settings showcases Quantum's strategy to leverage their alcohol metabolism technology across both consumer and clinical applications.

On the pharmaceutical front, the completion of the Phase 1 multiple ascending dose trial for Lucid-21-302 represents a crucial derisking event. The positive safety review committee findings – particularly the absence of serious adverse events – provides the green light for advancing this novel MS candidate. Importantly, Lucid-MS employs a unique non-immunomodulatory, neuroprotective mechanism that differentiates it from current standards of care in multiple sclerosis.

The initiation of toxicology studies and preparation for FDA submission in 2025 indicates the company is methodically advancing Lucid-MS toward Phase 2. This program represents the highest potential value creation opportunity in the pipeline, addressing a substantial market need for innovative MS therapeutics with novel mechanisms.

The dual focus on consumer health products (faster path to revenue) alongside traditional pharmaceutical development creates a balanced risk profile unusual for companies of this size. The unbuzzd product provides near-term commercialization potential while Lucid-MS progresses through traditional clinical development pathways with higher long-term value potential.

Completion of unbuzzdTM Clinical Trial and Multiple Sclerosis Drug Lucid-21-302 Phase 1 Trial Advance Company's Pipeline of Products and Assets

TORONTO, ONTARIO / ACCESS Newswire / March 28, 2025 / Quantum BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) ("Quantum BioPharma" or the "Company"),has reported its financial and operational results for the fourth quarter and year ended December 31, 2024.

Fourth Quarter and Full Year 2024 Financial Results

The company's strong balance sheet and overall progress enabled it to remove its Material Uncertainty Related to Going Concern. Management is confident that there is sufficient working capital as of December 31, 2024 to carry out its operations over the next twelve months. Management believes there is sufficient cash on hand to sustain basic operations beyond January 2027.

Cash and cash equivalents totaled $12.1 million USD as of December 31, 2024, compared to $11.1 million USD as of December 31, 2023.

For the year ended December 31, 2024, Operating Expenses were reduced to $16.1 million USD compared to $23.8 million USD in the same period of 2023, an improvement of over 32%.

Accounts payable have been significantly reduced from 4.4 million USD at December 31, 2024, compared to less than 1M USD as of the date of filing these Financial Statements. Net cash used in operations was $6.9 million USD for the year ended December 31, 2024, compared to $10.8 million USD in the same period of 2023 an improvement of 36 %.

For the year ended December 31, 2024, external research and development fees increased to $6.1 million USD compared to $3.9 million USD in the same period of 2023 as a result of advancing key clinical assets.

For the year ended December 31, 2024, General and Administrative expenses increased to $9.4 million USD compared to $9.0 million USD in the same period of 2023 as a result of advancing key clinical assets.

For the year ended December 31, 2024, Net Loss was $14.9 million USD, compared to $18.2 million USD for the same period of 2023 an improvement of 18 %.

Fourth Quarter & Subsequent 2024 Corporate Highlights

unbuzzd

  • Completed a double-blind, randomized, placebo-controlled crossover design clinical trial (NCT06505239) of dietary supplement product unbuzzd, investigating its effects on alcohol intoxication and alcohol metabolism.

  • Results of data analysis show definitively that unbuzzd accelerated the rate at which Blood Alcohol Concentration ("BAC") was reduced in study subjects, while simultaneously reducing the symptoms of intoxication and hangover.

  • Licensee Celly Nutrition Corp. ("Celly") signed a master distribution agreement with FUSION Distribution Group across Puerto Rico, The Caribbean, and Parts of Central and South America to bring unbuzzd to new markets through FUSION's robust distribution network.

  • Celly launched unbuzzd powder sticks in 2024 in the USA only and sales are increasing organically quarter over quarter. unbuzzd is available on amazon.com and unbuzzd.com.

  • Awaiting approval of filing submitted to Health Canada for approval to sell unbuzzed in Canada.

  • Celly engaged a leading New York Investment Bank to raise up to $10 million USD in capital and explore an initial public offering on a major US public exchange, subject to regulatory approval.

rekvry™

  • Development of a formulation has begun for rekvry - an alcohol misuse treatment for emergency and hospital settings. The Company believes that rekvry fulfills an unmet need in healthcare settings, reducing the costs and burden on healthcare resources and staff.

Multiple Sclerosis Drug Lucid-21-302 ("Lucid-MS")

  • Completed Phase 1 multiple ascending dose clinical trial.

  • Final safety review committee ("SRC") meeting was held after completion of the trial and found that Lucid-MS was well-tolerated with no safety concerns. No serious adverse events were reported during the trial.

  • Safety review committee subsequently recommended commencing dosing of the second cohort in its trial entitled "A Phase 1, Randomized, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants."

  • Commenced a toxicology study to be completed in 2025.

  • The Company has begun preparing for an FDA submission in 2025.

Additional Highlights

  • Dual listed on Upstream, a MERJ Exchange market and global securities trading app, under the ticker symbol ‘QNTM'.

  • Purchased $3.5 million worth of Bitcoin (BTC) and other cryptocurrencies to diversify its Treasury, allowing for future financings and other transactions to be carried out in cryptocurrency.

  • Closed multiple tranches of financing for $2.5 million USD

  • Cash and cash equivalents totaled $12.1 million USD as of December 31, 2024.

Management Commentary

"The fourth quarter of 2024 and early 2025 were highlighted by continued development of our robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health, with three near-term monetization events." said Zeeshan Saeed, CEO of Quantum BioPharma. "We launched unbuzzd, our rapid alcohol detoxification beverage, in 2024 with a first-to-market scientifically formulated powder stick for this fast-growing consumer product category. We are now building a multi-channel distribution strategy with upcoming launches with our distribution partner FUSION across Puerto Rico and the Asian American Trade Associations Council.

"Recently we completed a double-blinded, randomized, placebo-controlled crossover design clinical trial of unbuzzd, investigating its effects on alcohol intoxication and alcohol metabolism. Key findings from the clinical trial included statistically significant results that unbuzzd dramatically and rapidly reduced blood alcohol concentration in study participants. The rate at which BAC was lowered was, on average for most participants, more than 40 percent faster within 30 minutes of consuming unbuzzd compared to control subjects. The trial also showed rapid improvements in alertness, improvements in physiological changes due to intoxication, reduced perceived impairment and mental fatigue and hangover relief, all with no side effects. Following these highly positive results from the clinical study, Celly Nutrition is exploring an IPO on a major US public exchange.

"We also made significant progress with our MS program, completing a Phase 1, randomized, double-blind, placebo-controlled, multiple ascending dose study to evaluate the safety and pharmacokinetics of Lucid-21-302 in healthy adult participants. Lucid-MS is a first-in-class, non-immunomodulatory, neuroprotective compound for the treatment of MS. It is a patented New Chemical Entity ("NCE") that has a unique mechanism of action. Lucid-MS was deemed safe and well-tolerated in healthy participants by the safety review committee, and we are optimistic about the potential of Lucid-MS to protect myelin in MS patients as it represents a new direction in the treatment of this disease. We are now looking ahead to our Phase 2 trial as we work towards our goals of drug approval and commercialization.

"Operationally, we took several steps to strengthen our balance sheet and expand our reach in the capital markets to execute on upcoming milestones. Following highly positive results from the unbuzzd clinical study, our licensee Celly Nutrition Corporation, the company behind unbuzzd, engaged a leading New York Investment Bank to raise up to $10 million USD in capital and explore an initial public offering on a major US public exchange, subject to requisite regulatory approval. A dual listing on Upstream is now providing us the opportunity to access a global investor base outside of the U.S., unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in the company. Over the last several months, we have continued to purchase Bitcoin and other cryptocurrencies as part of our strategic efforts, reflecting our belief in the potential of cryptocurrencies to provide a return on investment for shareholders and to provide some hedge against the dollar.

"Looking ahead, we are focused on the imminent unbuzzd launch with FUSION Distribution across Puerto Rico and expanding the availability of unbuzzd through e-commerce. We are launching affiliate, ambassador, and social media programs to further market unbuzzd's potential to provide relief from inebriation and accelerate alcohol metabolism. We are encouraged by the strong safety and tolerability profile of Lucid-MS and are actively exploring the most expeditious path to advance this program to patients. We look forward to additional milestone announcements in the coming months as we work to develop novel solutions for brain and inflammatory disorders," concluded Saeed.

About Quantum BioPharma Ltd.

Quantum BioPharma (NASDAQ:QNTM) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd™ and spun out its OTC version to a company, Celly Nutrition Corp. ("Celly Nutrition"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of June 30, 2024) of Celly Nutrition at www.unbuzzd.com. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property. For more information visit www.quantumbiopharma.com.

Forward Looking Information

This press release contains certain "forward-looking statements" within the meaning of applicable Canadian securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company's focus on the research and development of Lucid-MS to prevent and reverse myelin degradation; the Company's Lucid-21-302 clinical development program in multiple sclerosis advancing towards human phase-2 efficacy trials; the Company's intention to retain 100% of the rights to develop products for pharmaceutical and medical uses; the Company's intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ playing a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ being engaged by the Company for the MZ Initial Period; MZ working with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company's visibility throughout the investment community; MZ campaign highlighting how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; and the Company's approach to treatments in brain disorders and alcohol health representing a tremendous revenue potential.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's assessment of market conditions, its ability to gain market share, and its potential competitive edge are accurate; the Company will have the ability to carry out its plans with respect to its new innovation and offerings, including its ability to conduct research and development of Lucid-MS; the Company's Lucid-21-302 clinical development program in multiple sclerosis will advance towards human phase-2 efficacy trials; the Company will retain 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses; the Company will seek new business opportunities; the Company will increase efficiency in its processes and partnerships; the Company will have the ability to carry out its other goals and objectives the Company's intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ will play a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ will be engaged by the Company for the MZ Initial Period; MZ will work with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company's visibility throughout the investment community; the MZ campaign will highlight how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; and the Company's approach to treatments in brain disorders and alcohol health will have a tremendous revenue potential.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to retain 100% of the rights to develop products for pharmaceutical or medical uses; the Company's inability to enhance its product development capabilities and/or maintain a portfolio of strategic investments; the Company's Lucid-21-302 clinical development program in multiple sclerosis not advancing towards human phase-2 efficacy trials; the Company will not have the ability to carry out its other goals and objectives the Company's intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ will not play a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ will not be engaged by the Company for the MZ Initial Period; MZ will not work with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company's visibility throughout the investment community; the MZ campaign will not highlight how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; the Company's approach to treatments in brain disorders and alcohol health will not have a tremendous revenue potential; and the risks discussed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 and registration statement on Form F-3 containing a base shelf prospectus, each under the heading "Risk Factors". These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission's website at www.sec.gov for a more complete discussion of such risk factors and their potential effects.

Contacts:

Quantum BioPharma Ltd.
Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board
Email: Zsaeed@quantumbiopharma.com
Telephone: (833) 571-1811

SOURCE: Quantum Biopharma Ltd.



View the original press release on ACCESS Newswire

FAQ

What were the key financial improvements for Quantum BioPharma (QNTM) in 2024?

QNTM reduced operating expenses by 32% to $16.1M, improved net loss by 18% to $14.9M, and increased cash position to $12.1M, with sufficient working capital through January 2027.

What were the clinical trial results for QNTM's unbuzzd product in 2024?

The trial showed unbuzzd reduced Blood Alcohol Concentration 40% faster within 30 minutes, improved alertness, reduced impairment and hangover symptoms, with no side effects.

How did QNTM's Multiple Sclerosis drug Lucid-21-302 perform in Phase 1 trials?

Lucid-MS completed Phase 1 trials successfully, demonstrating safety and good tolerability with no serious adverse events, leading to preparation for FDA submission in 2025.

What strategic investments did QNTM make in cryptocurrency during 2024?

QNTM invested $3.5M in Bitcoin and other cryptocurrencies to diversify its treasury and enable future cryptocurrency-based financings and transactions.

What distribution agreements did QNTM secure for unbuzzd in 2024?

Through licensee Celly Nutrition, QNTM secured distribution with FUSION Distribution Group across Puerto Rico, Caribbean, and parts of Central/South America.
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