Safety Review Committee Recommends Quantum BioPharma Proceed with Second Cohort Dosing in Phase 1 Lucid-MS Clinical Trial
The recommendation is based on a review of safety and pharmacokinetic data from the study's first cohort, with the second cohort expected to begin in a few days.
Quantum BioPharma (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, announced via its subsidiary, HUGE BioPharma Australia Pty Ltd., that the safety review committee has recommended commencing dosing of the second cohort in its Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants.
After reviewing the safety and pharmacokinetic data from participants in the study’s first cohort, the safety review committee recommended that the company proceed with the second cohort, which is expected to start in the coming days.
Dr. Andrzej Chruscinski, Vice-President of Scientific and Clinical Affairs at Quantum BioPharma, commented:
“Our clinical development team is delighted at the progress in this trial. We are thrilled that the safety review committee recommended to move forward with dosing of the next cohort, which is expected to commence in the next few days.”
Quantum BioPharma (QNTM) Stock Price Action and Chart
Shares of Quantum BioPharma (NASDAQ: QNTM) stock last traded at $4.21 per share.
During the first three weeks of October, QNTM stock went on a massive run, rising as much as 136%. Since reaching a high of $8.86 on October 21st, Quantum BioPharma stock has traded in a bullish consolidation pattern known as a pennant.
Bull pennants and flags are continuation chart patterns in technical analysis, which form during periods of consolidation after significant upside moves and are often preceded by another breakout, followed by a continuation of the uptrend.
We initially alerted our readers to QNTM’s bullish chart pattern in our previous article, “Why This Small Biotech Stock Could Be Primed for a Breakout.” As is often the case with these chart formations, the longer a consolidation pattern takes to play out, the larger the eventual breakout tends to be.
With that said, it would be a good idea to add Quantum BioPharma to your watchlist and keep a close eye on the stock over the coming days and weeks.
View Quantum BioPharma Interactive Stock Chart on Barchart
Read Next: Why This Small Biotech Stock Could Be Primed for a Breakout
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