Core Viewpoint - Quantum BioPharma Ltd. has successfully dismissed a reconsideration motion by Dr. Raza Bokhari, affirming the company's position in a legal dispute regarding his termination as CEO [1][2]. Legal Proceedings - Dr. Raza Bokhari's claim of wrongful dismissal was dismissed by Arbitrator Cunningham, resulting in Quantum BioPharma being awarded approximately CAD $2.81 million in arbitration costs plus interest [2]. - The Court of Appeal awarded an additional CAD $180,000 in costs related to Dr. Bokhari's failed motion for leave to appeal [2]. - Quantum BioPharma has initiated a Petition to Confirm Arbitration Award in the U.S. District Court to collect the awarded amounts from Dr. Bokhari, which includes various monetary judgments totaling USD $147,301.04 and CAD $2,814,229.15, among others [3]. Company Overview - Quantum BioPharma is focused on developing innovative biopharmaceutical solutions for neurodegenerative and metabolic disorders, as well as alcohol misuse disorders [4]. - The company is advancing its lead compound, Lucid-MS, which aims to prevent and reverse myelin degradation associated with multiple sclerosis [4]. - Quantum BioPharma retains a 25.71% ownership stake in Celly Nutrition Corp., which markets the product UNBUZZD™, and is entitled to a 7% royalty on sales until reaching CAD $250 million, after which the royalty rate will decrease to 3% [4].
Quantum Biopharma Wins Reconsideration Motion by Dr. Raza Bokhari at the Court of Appeal for Ontario