QSAM Biosciences Starts Trading under New Symbol: QSAM
QSAM Biosciences Inc. has begun trading on the OTC Markets under the new symbol QSAM, replacing QPWR. This change follows the company's rebranding and new focus on developing the novel radiopharmaceutical, CycloSam, aimed at treating various bone cancers. CycloSam is expected to enter Phase 1 clinical trials in Q1 2021 and has been previously tested in human trials. The company holds exclusive global rights to this promising technology, signaling a strategic pivot to enhance its market position.
- QSAM has commenced trading under a new symbol QSAM, potentially enhancing visibility.
- The company is progressing towards Phase 1 clinical trials for CycloSam, indicating advancement in its product pipeline.
- CycloSam has shown promise in prior human trials, enhancing its potential for future development.
- The company faces risks associated with fully commercializing its technology, including competition and market acceptance challenges.
- There is no guarantee of success in upcoming clinical trials, which may impact future financing and development efforts.
Palm Beach, FL, Oct. 09, 2020 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM) announced today that it has commenced trading on The OTC Markets under the new stock symbol QSAM. The company’s previous symbol QPWR is no longer active. Stockholders are not required to take any action at this time.
Last month QSAM announced its new name and business direction pursuing the development and commercialization of a clinical stage novel radiopharmaceutical called CycloSam® which is meant to treat different types of bone cancer and related diseases. QSAM has worldwide, exclusive rights to this promising nuclear technology. CycloSam is expected to go into Phase 1 clinical trials in Q1 2021, and has already been used successfully in one human trial this past summer.
“This is another step forward in our corporate development, which should be matched over the next several months with important advancements preparing for human trials of CycloSam, and developing strategic partnerships that can help us on our mission to treat bone cancer,” stated Douglas Baum, a company Director and President and CEO of the company’s wholly subsidiary QSAM Therapeutics.
About QSAM: QSAM Bioscience, Inc. (f/k/a Q2Earth. Inc.) holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets high bone turn over making it an ideal agent to treat osteosarcoma, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator initiated IND to commence human dosing of cancer patients.
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements
Contact
Christopher Nelson
cnelson@q2earth.com
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