Stock Gains After Enrollment Milestone Reached
Shares of Quantum BioPharma (NASDAQ:QNTM) rose 10% in premarket trading on Monday after the company announced that patient enrollment in its collaborative imaging study with Massachusetts General Hospital has reached the halfway stage, alongside encouraging early imaging findings.
Study Focuses on Advanced Multiple Sclerosis Imaging
The study aims to validate a positron emission tomography (PET) imaging method designed to directly evaluate demyelinated neurons with intact axons and monitor demyelination progression in patients with multiple sclerosis.
The research uses the PET tracer [¹⁸F]3F4AP, which was developed by Pedro Brugarolas, an investigator in the Department of Radiology at Massachusetts General Hospital and Assistant Professor at Harvard Medical School.
Preliminary Imaging Results Show Positive Signals
According to the company, the initial participant group has successfully undergone imaging using both advanced PET/MR systems and total-body PET platforms.
Early analysis reportedly showed strong imaging signals in acute multiple sclerosis lesions and suggested potential sensitivity in detecting gray matter lesions as well.
“We are excited to reach this important midpoint in our study with MGH and encouraged by the strength of the preliminary imaging data,” said Dr. Andrzej Chruscinski, Vice-President, Scientific and Clinical Affairs at Quantum BioPharma.
Technology Could Improve Evaluation of MS Therapies
Quantum BioPharma said the imaging technology may allow researchers to more accurately measure how therapies affect myelin preservation and regeneration.
The company believes the approach could strengthen evaluation of treatments such as its experimental candidate Lucid-MS (Lucid-21-302).
Lucid-MS Targets Myelin Protection
Lucid-MS is being developed as a neuroprotective therapy designed to inhibit demyelination by targeting protein arginine deiminase 2 (PAD2), an enzyme associated with myelin degradation.
Quantum BioPharma submitted an Investigational New Drug application to the FDA in March 2026 seeking approval to begin Phase 2 clinical testing.
The company added that earlier Phase 1 studies showed Lucid-MS demonstrated a favorable safety profile and was well tolerated in healthy participants.