Why Is Quantum BioPharma In The News Today? Here’s An Important Update On Its Multiple Sclerosis Investigational Drug

Quantum BioPharma (QNTM) on Monday announced that it has signed an agreement with a leading contract development and manufacturing organization to manufacture an oral drug formulation of Lucid-MS.

The agreement was signed through Quantum’s subsidiary, Huge Biopharma Australia Pty. Quantum, however, did not name the contract manufacturer.

The company intends to study the oral formulation of Lucid-MS in a mid-stage clinical trial and test its efficacy on humans as a possible treatment for people to regain mobility lost with multiple sclerosis (MS).

Multiple Sclerosis is a chronic, often disabling, autoimmune disease that disrupts communication between the brain and other parts of the body. The symptoms include difficulty in walking, blurred vision, and altered sensations in limbs or face. In MS, the body's immune system mistakenly attacks healthy tissue, damaging the myelin sheath or the protective covering of nerve fibers.

Lucid-MS is a patented chemical entity shown to prevent and reverse myelin degradation in preclinical models. On Stocktwits, retail sentiment around QNTM fell from ‘extremely bullish’ to ‘bullish’ territory over the past 24 hours, while message volume fell from ‘extremely high’ to ‘high’ levels. Shares of the company rose 4% in the pre-market session at the time of writing.

Quantum said that numerous animal models over the past decade showed Lucid-MS helped those animals regain their ability to walk. “We are pleased to announce that we have signed this agreement with a leading CDMO to develop and manufacture an oral formulation of Lucid-MS. This marks an important step in the clinical development of Lucid-MS as we prepare the Investigational New Drug (IND) application with the FDA and prepare for our upcoming Phase 2 trial of Lucid-21-302 in MS,” said Andrzej Chruscinski, Vice-President, Scientific and Clinical Affairs at Quantum Biopharma.

QNTM stock is up by 694% this year and by about 246% over the past 12 months. 

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