Corporate Updates - Quantum BioPharma Ltd. announced the grant of 60,000 restricted share units (RSUs) under its equity incentive plan, which are subject to vesting criteria and a hold period of four months and one day [2] - The board of directors approved the settlement of outstanding debt by issuing Class B Shares at a deemed price of US$6.75 per share, also subject to a four-month and one-day hold period [3] Company Overview - Quantum BioPharma is focused on developing innovative biopharmaceutical solutions for neurodegenerative and metabolic disorders, as well as alcohol misuse disorders, with drug candidates at various development stages [1][4] - The company’s lead compound, Lucid-MS, is a patented new chemical entity aimed at preventing and reversing myelin degradation, a key factor in multiple sclerosis, demonstrated in preclinical models [4] - Quantum BioPharma retains a 25.71% ownership stake in Celly Nutrition Corp., which markets the product UNBUZZD™, and is entitled to 7% royalty payments on sales until reaching $250 million, after which the royalty rate will drop to 3% indefinitely [4]

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].

Core Insights - Quantum BioPharma Ltd. has reported significant advancements in its clinical trials and financial performance for the year ended December 31, 2024, including the completion of the unbuzzd™ clinical trial and progress in the Lucid-21-302 Phase 1 trial for multiple sclerosis [1][12][14] Financial Performance - The company reported cash and cash equivalents of $12.1 million USD as of December 31, 2024, an increase from $11.1 million USD in 2023 [3] - Operating expenses were reduced to $16.1 million USD in 2024, down from $23.8 million USD in 2023, marking an improvement of over 32% [3] - Net cash used in operations decreased to $6.9 million USD in 2024 from $10.8 million USD in 2023, reflecting a 36% improvement [4] - The net loss for the year was $14.9 million USD, an 18% improvement compared to a net loss of $18.2 million USD in 2023 [6] Clinical Developments - The unbuzzd™ clinical trial demonstrated that the product significantly accelerated the reduction of Blood Alcohol Concentration (BAC) by over 40% faster within 30 minutes compared to control subjects, while also alleviating symptoms of intoxication and hangover [9][13] - The company has initiated the development of rekvry™, a treatment for alcohol misuse, aimed at addressing unmet healthcare needs [8] - The Lucid-21-302 drug for multiple sclerosis has completed a Phase 1 trial, showing safety and tolerability, and is preparing for a Phase 2 trial [14][16] Strategic Initiatives - Celly Nutrition Corp., the licensee for unbuzzd™, is exploring an initial public offering (IPO) and has engaged a New York investment bank to raise up to $10 million USD [9][15] - The company has diversified its treasury by purchasing $3.5 million worth of Bitcoin and other cryptocurrencies, reflecting a strategic approach to enhance liquidity [16][17] - Quantum BioPharma is focused on expanding the distribution of unbuzzd™ through partnerships and e-commerce initiatives [18]

Core Viewpoint - Quantum BioPharma Ltd. has appointed Terry Lynch to its board of directors, replacing Dr. Sanjiv Chopra, who will continue as an advisor to the company [1][3]. Group 1: Appointment Details - Terry Lynch is recognized for founding Save Canadian Mining and has a successful history as an executive in public micro-cap companies [2]. - Lynch is currently the CEO of Power Metallic Mines Inc., which recently secured $50 million in financing [2]. - He is also a co-founder of Cardiol Therapeutics, focusing on cannabidiol for cardiovascular disease treatment [2]. Group 2: Contributions to the Company - CEO Zeeshan Saeed highlighted three key contributions Lynch brings: extensive fundraising experience, biotech investment knowledge, and expertise in stock market manipulation [3]. - Lynch expressed excitement about joining Quantum BioPharma, emphasizing the company's potential and commitment to fairness in capital markets [3]. Group 3: Stock Options - The company granted Lynch 50,000 stock options to acquire Class B Shares at an exercise price of C$9.90, expiring on March 26, 2027 [3]. Group 4: Company Overview - Quantum BioPharma is focused on developing innovative biopharmaceutical solutions for neurodegenerative and metabolic disorders [4]. - The company is advancing its lead compound, Lucid-MS, aimed at preventing myelin degradation associated with multiple sclerosis [4]. - Quantum BioPharma retains a 25.71% ownership in Celly Nutrition, which includes a royalty agreement on sales from its product unbuzzd™ [4].

Core Viewpoint - Quantum BioPharma Ltd. has successfully completed a Phase 1 trial for its compound Lucid-MS, which showed no safety concerns and was well-tolerated in healthy participants, paving the way for future clinical development [1][3][4] Group 1: Trial Results - The final safety review committee found that Lucid-MS was well-tolerated with no serious adverse events reported during the trial [1] - The trial was a Phase 1, randomized, double-blind, placebo-controlled study evaluating the safety and pharmacokinetics of Lucid-21-302 in healthy adult participants [1] Group 2: Product Information - Lucid-MS is a first-in-class, non-immunomodulatory, neuroprotective compound aimed at treating multiple sclerosis (MS) by stabilizing the myelin sheath surrounding nerve fibers [2] - The compound is a patented New Chemical Entity (NCE) that has demonstrated the ability to prevent and reverse myelin degradation in preclinical models [5] Group 3: Future Development Plans - The completion of the Phase 1 trial allows the company to move forward with plans for a Phase 2 trial in MS patients [3][4] - The company aims to achieve drug approval and commercialization of Lucid-MS, focusing on arresting demyelination in MS [4] Group 4: Company Overview - Quantum BioPharma is dedicated to developing innovative solutions for neurodegenerative and metabolic disorders, with a focus on its lead compound, Lucid-MS [5] - The company retains a 25.71% ownership stake in Celly Nutrition, which is involved in the development of unbuzzd™, a product related to its portfolio [5]