Shares of Quantum BioPharma Ltd (NASDAQ:QNTM) are on watch Monday morning following a series of updates regarding its lead drug candidate for multiple sclerosis, Lucid-MS. Here’s what investors need to know.
What To Know: The primary catalyst is Monday’s announcement of an agreement with a leading contract development and manufacturing organization to produce an oral formulation of Lucid-MS for its upcoming Phase 2 clinical trial. This move marks a critical step toward testing the drug’s efficacy in humans.
The news builds on recent momentum for the biopharmaceutical company. On August 5, Quantum reported that Lucid-MS had successfully completed its Phase 1 trial, demonstrating safety and tolerability in healthy volunteers.
This was followed by an August 8 announcement of promising results from a collaboration with Massachusetts General Hospital on a novel PET tracer. This imaging agent is capable of detecting and monitoring demyelination, the hallmark of MS, which could provide a crucial biomarker for assessing the drug’s effectiveness in future studies.
Investor confidence is further bolstered by the company’s strong financial position. In its latest quarterly report for the period ending June 30, Quantum disclosed it had increased its total assets, eliminated all outstanding debt from debentures, and maintained a healthy cash position.
This combination of steady clinical progress and a de-risked trial pathway is continuing to fuel optimism around the stock Monday.
Price Action: According to data from Benzinga Pro, QNTM shares are trading lower by 2.94% to $28.35 Monday morning. The stock has a 52-week high of $38.25 and a 52-week low of $2.70.
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How To Buy QNTM Stock
By now you're likely curious about how to participate in the market for Quantum BioPharma – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Quantum BioPharma, which is trading at $31.44 as of publishing time, $100 would buy you 3.53 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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