Quantum BioPharma rated BUY with $8 target

Quantum BioPharma Ltd. (QNTM) reports that investment bank Rodman & Renshaw has initiated analyst coverage on the company with a BUY rating and a US$8 price target.

Available on EDGAR 09/17/2026 - 08:00 AM EDT Accepted by SEC EDGAR 09/17/2026 - 08:00 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Quantum BioPharma Ltd. (QNTM) reports that investment bank Rodman & Renshaw has initiated analyst coverage on the company with a BUY rating and a US$8 price target. The company states this coverage is unpaid and that it provided no consideration or fees for the report.

Quantum describes itself as a biopharmaceutical company developing treatments for neurodegenerative and metabolic disorders and alcohol misuse, led by its preclinical multiple-sclerosis candidate Lucid-MS. Through its subsidiary and spin-out structure, Quantum also retains an equity interest and royalty rights in the consumer product UNBUZZD™.

Filing Explained

As of June 30, 2026, Quantum reported a 19.48% Unbuzzd stake and royalties that step down after total payments reach $250 million.

The filing adds that Quantum BioPharma reported retaining a 19.48% interest in Unbuzzd as of June 30, 2026. This is an equity ownership right disclosed at that date.

The agreement also provides Quantum royalties equal to 7% of sales until total payments reach $250 million; after that threshold, the royalty falls to 3% in perpetuity.

Key Figures

Analyst price target: US$8 per share Ownership in Unbuzzd Wellness Inc.: 19.48% Royalty rate on unbuzzd™ sales (initial): 7% of sales +3 more

6 metrics

Analyst price target US$8 per share Rodman & Renshaw initiation report on Quantum BioPharma

Ownership in Unbuzzd Wellness Inc. 19.48% Equity stake as of June 30, 2026

Royalty rate on unbuzzd™ sales (initial) 7% of sales Applies until Quantum BioPharma has received $250 million in royalty payments

Royalty payment threshold $250 million Cumulative royalties from unbuzzd™ sales before rate decreases

Royalty rate on unbuzzd™ sales (after threshold) 3% of sales Applies in perpetuity after $250 million in total royalties is reached

Analyst coverage initiation date September 17, 2026 Date of press release and Rodman & Renshaw initiation

Key Terms

BUY rating, price target, royalty payments, new chemical entity, +1 more

5 terms

BUY rating financial

"initiated coverage of Quantum BioPharma with a BUY rating and a US$8 price"

A buy rating is an analyst’s recommendation that a stock is expected to rise in value and is a good purchase relative to other investment choices. It matters to investors because such ratings can influence buying demand and share prices and act like a trusted product review: they summarize research and risk expectations so investors can decide whether to add a stock to their portfolio, while still weighing other information.

price target financial

"initiated coverage of Quantum BioPharma with a BUY rating and a US$8 price target"

A price target is an analyst’s estimate of the future value of a stock, typically expressed as a single number for a set time frame. It matters to investors because it acts like an expected selling price when appraising a house—helping people decide whether a stock looks cheap, fairly priced, or expensive compared with current market price and guiding buy, hold or sell decisions; it is an opinion, not a guarantee.

royalty payments financial

"The agreement with Unbuzzd also includes royalty payments of 7% of sales"

Payments made to the owner of an asset, patent, trademark, mineral right, or creative work in exchange for permission to use it; they are typically a percentage of sales or a fixed fee per unit sold. For investors, royalty payments represent a steady income stream tied to the underlying product’s sales performance, similar to collecting rent from tenants — predictable cash flow that can reduce risk or add value when evaluating a company’s revenue sources.

new chemical entity medical

"Lucid-MS is a patented new chemical entity shown to prevent and reverse"

A new chemical entity (NCE) is a drug whose active ingredient has never been previously approved or marketed; it’s a wholly new molecule rather than a new use of an existing compound. For investors, NCEs matter because they offer fresh commercial opportunities, potential patent and regulatory exclusivity, and correspondingly higher upside if successful — but they also carry greater development and regulatory risk, like betting on an untested recipe.

forward-looking statements regulatory

"This press release contains forward-looking statements within the meaning of applicable"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Quantum BioPharma (QNTM) announce in this Form 6-K?

Quantum BioPharma announced that Rodman & Renshaw initiated analyst coverage on the company with a BUY rating and a US$8 price target. The company also reiterates its focus on neurodegenerative and metabolic disorders and alcohol misuse, including its lead candidate Lucid-MS.

What rating and price target did Rodman & Renshaw assign to QNTM?

Rodman & Renshaw initiated coverage on Quantum BioPharma with a BUY rating and a US$8 price target. The initiation report was authored by Michael G. King Jr., Director of Research and Senior Biotechnology Analyst at Rodman & Renshaw.

Did Quantum BioPharma pay Rodman & Renshaw for this analyst coverage?

No. Quantum BioPharma states the coverage is unpaid and that it provided no consideration and paid no fees to Rodman & Renshaw for the initiation research report on the company.

What is Quantum BioPharma’s business focus according to the 6-K?

Quantum BioPharma describes itself as a biopharmaceutical company building a portfolio of innovative assets for neurodegenerative disorders, metabolic disorders, and alcohol misuse disorders, with multiple drug candidates in different stages of development, led by its patented compound Lucid-MS for multiple sclerosis in preclinical models.

What ownership stake does QNTM hold in Unbuzzd Wellness Inc. and what royalties apply?

Quantum BioPharma reports owning 19.48% of Unbuzzd Wellness Inc. as of June 30, 2026. It is entitled to 7% royalty payments on unbuzzd™ sales until it receives $250 million, after which the royalty decreases to 3% in perpetuity.

What is Lucid-MS as described by Quantum BioPharma?

Lucid-MS is described as a patented new chemical entity that has been shown in preclinical models to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis. It is the lead compound being developed through Quantum’s wholly owned subsidiary, Lucid Psycheceuticals Inc.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2026

Commission File Number: 001-39152

Quantum BioPharma Ltd.
(Translation of registrant's name into English)

1 Adelaide Street East, Suite 801
Toronto, Ontario M5C 2V9
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X ]      Form 40-F [   ]

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Quantum BioPharma Ltd.
		(Registrant)
Date: September 17, 2026		/s/ Donal Carroll
		Donal Carroll
		Chief Financial Officer

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated September 17, 2026

EXHIBIT 99.1

Rodman & Renshaw Initiates Analyst Coverage on Quantum BioPharma with a BUY Rating and US$8 Price Target

TORONTO, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Quantum BioPharma Ltd. (NASDAQ: QNTM) (FRA: 0K91) (“Quantum BioPharma” or the “Company”), 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, today announces Rodman & Renshaw has initiated coverage of Quantum BioPharma with a BUY rating and a US$8 price target. The lead analyst of this report is Michael G. King Jr., Director of Research, Senior Biotechnology Analyst at Rodman & Renshaw. This coverage is unpaid and Quantum BioPharma providing no consideration for this report.

Rodman & Renshaw published an initiation research report regarding Quantum BioPharma. The company did not pay Rodman & Renshaw any fees for this report.

A copy of this report can be found at: Quantum Published Initiation Report

About Quantum BioPharma Ltd.

Quantum 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 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 invented UNBUZZD™ and spun out its OTC version to a company, Unbuzzd Wellness Inc. (“Unbuzzd”) (formerly, Celly Nutrition Corp.), led by industry veterans. Quantum retains ownership of 19.48% (as of June 30, 2026) of Unbuzzd. The agreement with Unbuzzd also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses.

For more information visit www.quantumbiopharma.com.

About Rodman & Renshaw

Rodman & Renshaw (“Rodman”) is a full-service Investment Bank with a rich heritage spanning over 70 years. Rodman has deep rooted experience as a leading investment bank, fostering the long-term success of growth companies through Investment Banking, Equity Research, Corporate Access, and Strategic Advisory.

For more information visit www.rodm.com

Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities laws, including the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by words such as “may,” “will,” “could,” “should,” “would,” “anticipate,” “expect,” “intend,” “plan,” “believe,” “estimate,” “potential,” “continue,” and similar expressions, although not all forward-looking statements contain these identifying words. These statements are based on the Company’s current expectations, estimates, assumptions and projections and are subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by such statements.

Forward-looking statements in this press release should be considered in light of the risks and uncertainties described in the Company’s filings with applicable securities regulators, including its filings on SEDAR+ and with the U.S. Securities and Exchange Commission on EDGAR. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts:

Investor Relations
Robert Guzman, Investor Relations
Email: Rob@QuantumBioPharma.com
Telephone: (833) 304-0323
General Inquiries: info@QuantumBioPharma.com

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 5.6 KB