Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) Receives FDA Clearance to Advance Lucid-MS Into Phase 2 Multiple Sclerosis Trial

Toronto, Canada, August 10th, 2026, FinanceWire

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Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FSE: 0K91) is advancing on multiple fronts this summer, headlined by FDA clearance to move its lead MS candidate into Phase 2, alongside encouraging early signals from a pilot imaging study and the closing of a debt settlement that reduces outstanding obligations to creditors and insiders.

FDA Clears Lucid-MS for Phase 2 Development

The Company announced Monday that the FDA has approved its Investigational New Drug application for Lucid-MS (Lucid-21-302), enabling Quantum BioPharma to advance its multiple sclerosis program into Phase 2 clinical development. The Company is working with a clinical research organization experienced in neurodegenerative studies to support the planned disease-modifying Phase 2 trial, with site selection already underway. Quantum BioPharma intends to begin patient enrollment and dosing as swiftly as possible.

Lucid-MS is a patented investigational compound designed to offer neuroprotection by halting demyelination, a primary driver of worsening disability in MS. Unlike many current therapies, which work by modulating the immune system, Lucid-MS targets the underlying neurodegeneration directly.

Progressive forms of MS — primary progressive and secondary progressive — remain a significant global health challenge with limited therapeutic options despite existing disease-modifying therapies. The primary progressive MS treatment segment is projected to grow from roughly $1.16 billion in 2025 to about $1.31 billion in 2026, while the broader global MS therapeutics market is expected to approach $38.62 billion by 2030.

"This Phase 2 trial marks an important strategic milestone for Quantum BioPharma and advances our unique Lucid-MS program into the next stage of development," said Zeeshan Saeed, Founder, CEO, and Executive Co-Chairman of the Board of Quantum BioPharma. As of March 31, 2026, the Company reported a cash balance exceeding $10 million.

Imaging Study Hits Halfway Mark

As announced August 3, 2026, the Company also reached the halfway point in patient enrollment for its pilot MS imaging study conducted with Massachusetts General Hospital. Preliminary PET imaging data is showing encouraging signals in acute MS lesions, using a novel technique designed to distinguish demyelinated nerve fibers that may still be viable from those with permanent damage — a potentially more precise way to measure myelin loss and repair over time.

The findings carry direct relevance to Lucid-MS, which targets PAD2, an enzyme implicated in myelin degradation. Pairing a more precise imaging tool with a drug candidate now advancing into Phase 2 presents a combination worth watching as both programs progress.

Quantum BioPharma, through its wholly owned subsidiary Lucid Psycheceuticals Inc., continues to focus research and development efforts on Lucid-MS, a patented new chemical entity shown in preclinical models to prevent and reverse myelin degradation — the underlying mechanism of multiple sclerosis.

The Company also maintains a stake in the consumer wellness space through unbuzzd, which it invented before spinning out its OTC version to Unbuzzd Wellness Inc. (UWI). Quantum BioPharma retains 19.84% ownership of UWI (as of March 31, 2026) along with royalty payments of 7% of unbuzzd™ sales until cumulative payments reach $250 million, after which the royalty continues at 3% in perpetuity. The Company retains full rights to develop similar formulations for pharmaceutical and medical applications.

Debt Settlement Closes (Originally released July 30, 2026, further to the intention announced July 20, 2026)

Separately, Quantum BioPharma announced on July 30, 2026 the closing of a debt settlement addressing CAD $123,487.43 owed to arm's-length creditors and insiders. Under the terms, the Company issued 30,948 Class B subordinate voting shares at a deemed price of CAD $3.99 per share — the CSE closing price on the trading day immediately prior to closing — fully satisfying the outstanding obligations.

The Class B Shares issued in the settlement have not been, and will not be, registered under the U.S. Securities Act of 1933 or applicable U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption.

Also active in MS/remyelination this year, Tiziana Life Sciences (NASDAQ: TLSA), which completed Phase 2 trial enrollment for intranasal foralumab in non-active secondary progressive MS in June 2026, and Immunic, Inc. (NASDAQ: IMUX), which presented new Phase 2 CALLIPER trial data in progressive MS at the 2026 CMSC Annual Meeting in May. Both remain notable names to watch in the small-cap MS pipeline space alongside QNTM. 

About Quantum BioPharma

Quantum BioPharma is a biopharmaceutical company building a portfolio of innovative assets and biotech solutions for challenging neurodegenerative and metabolic disorders and alcohol misuse disorders, with drug candidates spanning multiple stages of development.

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This communication is a paid promotional investor awareness advertisement and should not be considered independent financial research, analyst coverage, or investment advice. USAStockReport.com and/or its parent, affiliate, or publishing entity Akchirpy Media LLP has received USD 750$ and expects to be compensated an additional $4250 via wire from FinnCom, Inc. for content creation, marketing, advertising, and distribution services relating to QNTM using publicly available information during the period of August 2026. No stock, options, warrants, or other securities compensation has been received. Quantum BioPharma Ltd. (QNTM) is an unaffiliated third party and did not commission, sponsor, review, or pay for this communication; the compensation described above was paid solely by FinnCom, Inc.

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Sources: 

https://finance.yahoo.com/healthcare/articles/exclusive-quantum-biopharma-achieves-major-103104721.html

https://finance.yahoo.com/healthcare/articles/quantum-biopharma-announces-closing-debt-041800050.html

https://finance.yahoo.com/healthcare/articles/quantum-biopharma-qntm-advances-ms-191500472.html

https://www.cnbc.com/quotes/TLSA 

https://www.biospace.com/press-releases/immunic-to-present-additional-phase-2-calliper-trial-data-for-vidofludimus-calcium-at-the-cmsc-annual-meeting-2026-reinforcing-its-potential-in-progressive-multiple-sclerosis (BioSpace, May 28, 2026)

http://www.prnewswire.com/news-releases/immunic-to-present-additional-phase-2-calliper-trial-data-for-vidofludimus-calcium-at-the-cmsc-annual-meeting-2026-reinforcing-its-potential-in-progressive-multiple-sclerosis-302784119.html (PR Newswire, May 28, 2026)

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