Quantum BioPharma (NASDAQ: QNTM) reported unaudited financial and operational results for the third quarter ended Sept. 30, 2026, highlighting improved liquidity, reduced operating expenses and progress in its clinical development program. Cash and cash equivalents totaled approximately $3.56 million, while digital assets reached $8.66 million, representing combined holdings of $12.22 million, compared with $4.12 million at year-end 2025, excluding restricted digital assets. Shareholders’ equity increased 91% to $9.77 million, while working capital rose to $5.47 million from $420,000. Third-quarter operating expenses declined 24% year over year to $3.56 million, and the nine-month net loss narrowed 26% to $17.32 million from $23.25 million.
Following quarter-end, Quantum entered into a study start-up agreement with the clinical research business of Thermo Fisher Scientific to implement its Phase 2 clinical trial of Lucid-MS for progressive multiple sclerosis. The agreement follows U.S. Food and Drug Administration (“FDA”) clearance of the company’s Investigational New Drug application in August 2026. Quantum also reported a 21% reduction in operating cash use for the first nine months of 2026 and a decrease in notes payable to $300,000 following repayment of $1 million in debt. Management stated that its cash and digital asset holdings are sufficient to support planned operations over the next 12 months.
To view the full press release, visit https://ibn.fm/GJ1ER
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(TM) 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 19.84% (as of March 31, 2026) of Unbuzzd at www.unbuzzd.com. The agreement with Unbuzzd also includes royalty payments of 7% of sales from unbuzzd(TM) 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.
NOTE TO INVESTORS: The latest news and updates relating to QNTM are available in the company’s newsroom at https://ibn.fm/QNTM
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