08:14 AM EDT, 08/05/2025 (MT Newswires) -- Quantum BioPharma ( QNTM ) on Tuesday said its Australian subsidiary has confirmed that no "safety or tolerability concerns" were identified in healthy participants following consecutive daily dosing of Quantum's lead candidate, Lucid-MS, in the Phase 1 trial.

Lucid-MS is a patented new chemical entity (NCE) that has been shown in preclinical models to prevent demyelination, or damage to the myelin sheath surrounding nerve fibers.

The safety report allows the company to to advance the clinical development of Lucid-MS and is a critical component of the investigational new drug application with the FDA, a statement said.

"Results and observations from the first-in-human studies including this MAD [multiple ascending dose] investigation give us the confidence that Lucid-MS is safe and tolerable in healthy volunteers," said Dr. Lakshmi Kotra, director at Quantum BioPharma ( QNTM ), who led the discovery of Lucid-MS. "Quantum team is preparing for the launch of efficacy trials in patients with MS which is very exciting."

QNTM was at last look down 5.5% in US premarket trade, having risen more than 18% in regular trade in the States yesterday.