Quantum BioPharma Cuts Q2 Costs, Advances Lucid-MS to Phase 2 Trial

Quantum BioPharma (NASDAQ: QNTM) (CSE: QNTM) has announced its second-quarter 2026 financial and operational results, highlighting a significant reduction in expenses and a major regulatory milestone for its lead drug candidate. The company reported a 53% year-over-year decrease in operating expenses to $2.29 million, and a 47% drop in general and administrative expenses to $1.76 million. These cost reductions come as the company prepares for a pivotal clinical trial.

As of June 30, the company held approximately $9.5 million in cash, cash equivalents, and digital assets, up from $4.1 million at the end of 2025. Management states that this liquidity is sufficient to fund planned operations through at least October 2027, assuming the current cash burn rate from the first half of 2026.

Subsequent to the quarter-end, the U.S. Food and Drug Administration (FDA) approved Quantum’s Investigational New Drug (IND) application for Lucid-MS, clearing the way for a randomized, double-blind, placebo-controlled Phase 2 clinical trial in patients with progressive multiple sclerosis. This is a critical step for the company, as Lucid-MS has shown promise in preclinical models to prevent and reverse myelin degradation, the underlying cause of MS.

Quantum BioPharma is dedicated to building a portfolio of innovative treatments for neurodegenerative, metabolic, and alcohol misuse disorders. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., the company is focused on the development of Lucid-MS, a patented new chemical entity. The company also retains a 19.84% ownership stake in Unbuzzd Wellness Inc., which markets the OTC version of its hangover remedy, UNBUZZD. Under the agreement, Quantum is entitled to royalty payments of 7% of sales from UNBUZZD until payments total $250 million, after which the royalty drops to 3% in perpetuity. Quantum retains full rights to develop similar products for pharmaceutical and medical uses.

The approval of the IND application and the advancement of Lucid-MS into Phase 2 trials represent a potential turning point for the company and for patients with progressive MS, a condition with limited treatment options. The company’s disciplined cost management and strategic focus on its lead asset position it to potentially deliver meaningful clinical data in the coming years.

For more information on Quantum BioPharma, visit the company’s newsroom at https://ibn.fm/QNTM.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause such differences are discussed in the company's filings with the SEC, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.