Quantum BioPharma Ltd Stock Price, News & Analysis

Quantum BioPharma (NASDAQ:QNTM) has announced a strategic investment of USD $1,000,000 in Bitcoin (BTC) and other cryptocurrencies following Board approval. The company will also accept cryptocurrency for future financings and transactions, storing all digital assets with a compliant custodian.

CEO Zeeshan Saeed cited Bitcoin's increased legal and market legitimacy, including the emergence of BTC-based ETFs and anticipated pro-crypto policies, as key factors in this decision. The company maintains flexibility to adjust its cryptocurrency holdings based on market conditions, viewing this investment as an opportunity to grow non-operational capital while aligning with emerging financial trends.

Quantum BioPharma (NASDAQ: QNTM) has announced a strategic investment of USD $1,000,000 in Bitcoin (BTC) and other cryptocurrencies following Board approval. The company will now accept cryptocurrency for future financings and other transactions, working with a fully compliant custodian.

CEO Zeeshan Saeed stated this move aims to grow non-operational capital, citing Bitcoin's increasing legal and market legitimacy, including the emergence of BTC-based ETFs and anticipated pro-crypto policies. The company maintains flexibility to adjust its cryptocurrency holdings based on market conditions, emphasizing full compliance with financial and audit regulations.

Quantum BioPharma (NASDAQ/CSE/FRA: QNTM) has announced the closing of the first tranche of its previously announced offering from December 5, 2024. The company has issued 500 Debenture Units raising CAD $500,000. The proceeds will be allocated to the company's ongoing business model development and general working capital. Securities issued in this tranche are subject to a four-month and one-day statutory hold period from issuance. The company's obligations under the Debentures are no longer collaterally secured by general security.

Quantum BioPharma (NASDAQ: QNTM) announced that the safety review committee has recommended proceeding with the second cohort dosing in their Phase 1 Multiple Ascending Dose clinical trial for Lucid-21-302. The trial, conducted through subsidiary HUGE Biopharma Australia, is evaluating safety and pharmacokinetics of Lucid-21-302 in healthy adult participants. The recommendation follows a review of safety and pharmacokinetic data from the first cohort. The second cohort dosing is expected to begin within days.

Quantum BioPharma (NASDAQ:QNTM) has announced a non-brokered private placement offering of up to 5,000 convertible debenture units at $1,000 per unit, aiming to raise up to $5 million. Each unit includes a $1,000 secured convertible debenture and 80 class B share purchase warrants.

The debentures will mature in 36 months with a 1.25% monthly interest rate, payable quarterly. They are convertible into class B shares at $6.25 per share. The warrants allow holders to purchase additional class B shares at $7.00 per share within 5 years. The proceeds will support business development and working capital. The company also settled $43,825.17 in debt through the issuance of 7,500 shares at $5.84 per share.

Quantum BioPharma (NASDAQ:QNTM), formerly FSD Pharma, has filed a US$700M+ lawsuit against CIBC World Markets, RBC Dominion Securities and others for alleged market manipulation and share price spoofing. The company has assembled legal teams working on a contingency basis, meaning no upfront costs for the company.

The company is actively inviting shareholders who experienced losses during the relevant period to join the case by sharing details of their trading losses and personal impact. Information can be submitted via email or through the company's website on the 'Quantum vs Banks' page, which will be updated periodically with case progress.

Quantum BioPharma (NASDAQ:QNTM) announces the commencement of sentinel dosing for its Phase 1 multiple ascending dose clinical trial of Lucid-21-302 in Australia. The study aims to evaluate the safety and pharmacokinetics of Lucid-21-302 in healthy adult participants, marking a significant step toward Phase 2 efficacy trials for multiple sclerosis treatment. The company has also retained several firms for market awareness and investor relations, including Agoracom ($25,000 CAD), Independent Trading Group ($7,500 CAD monthly), Buyins ($15,000 USD), and Stockjock ($15,000 USD).

Quantum Biopharma (Nasdaq: QNTM) has filed a market manipulation lawsuit against CIBC World Markets and RBC Dominion Securities. The complaint alleges that defendants engaged in 'spoofing' - placing sell orders they didn't intend to fill - to artificially lower the stock price over a four-year period. This manipulation allegedly occurred more than a thousand times, causing significant harm to both the company and shareholders. Quantum Biopharma claims it was forced to sell shares at artificially depressed prices during this period and is now seeking damages to compensate for losses.

Quantum BioPharma (NASDAQ:QNTM) has filed a complaint in the U.S. District Court for the Southern District of New York against CIBC World Markets, RBC Dominion Securities, and others. The lawsuit alleges that between January 1, 2020, and August 15, 2024, the defendants engaged in market manipulation through "spoofing" techniques, violating securities laws. Quantum BioPharma is seeking damages exceeding $700 million USD.

The company has posted a copy of the complaint on its website for public access. Law firms Christian Attar and Freedman Normand Friedland LLP are handling the case on a contingency basis. The complaint alleges that the defendants' actions artificially depressed Quantum BioPharma's stock price, harming both the company and its retail investors.

Quantum BioPharma's stock price has fallen from over $460 USD per share in January 2020 to $7.55 USD as of October 18, 2024, reducing its market cap from nearly $1 billion to less than $15 million. The company believes other banks/brokers may be involved in the alleged manipulation but has not named them at this time.