Quantum Biopharma Ltd. (QNTM)
Quantum BioPharma Ltd., a biopharmaceutical firm headquartered in Toronto, Canada, is dedicated to the discovery and advancement of biotechnological solutions and drug candidates. The company focuses on addressing complex neurodegenerative, inflammatory, and metabolic conditions, alongside alcohol use disorder, with its pipeline featuring a range of drug candidates at varying stages of development. Its operations are divided into two main divisions: its core biopharmaceutical activities and strategic investment holdings. A flagship asset is Lucid-MS, a novel, proprietary chemical entity currently in Phase 2 clinical trials. Preclinical data indicates its potential to prevent and reverse the degradation of myelin, a key process underlying multiple sclerosis. Furthermore, Quantum BioPharma is developing a therapeutic solution for alcohol addiction, intended for application in hospital and clinical environments. The company's strategic investments portfolio includes various loans collateralized by residential real estate. Previously known as FSD Pharma Inc., the company adopted its current name, Quantum BioPharma Ltd., in August 2024.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Quantum BioPharma Ltd.
NASDAQ:QNTMHealthcare · Biotechnology
-2.46%$2.38
AH$2.38+0.00%vs close
Mkt Cap$19.25M
Float5.39M
O/S8.09M
Vol
$ Vol
RVOL
Inst Own5.1%
SI9.7%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$26.18M
Total Assets$11.14M
Free Cash Flow-$8.38M
Debt & Equity
Debt 21%
Equity 79%
Total Debt$1.87M
Total Equity$6.91M
Shares Outstanding
Short Interest
Split History2 splits · 1 reverse
- 20:1Forward splitAug 15, 20241 share → 20
- 1:201Reverse splitOct 16, 2019201 shares → 1
Balance Sheet Details
Assets$11.14M
Liabilities$6.05M
Accounts Receivable$231K
Accounts Payable$0
Inventory$52K
PP&E (Net)$169K
Goodwill$0
Intangible Assets$4.5M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-08-31 | 2015-08-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21K | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $183K | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | $0 | -$2.65M | -$183K | $21K | $0 | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | 100.0% | - | - |
| Research and Development | $2.76M | $6.08M | $3.86M | $6.91M | $6.33M | $7.83M | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $12.01M | $9.31M | $13.2M | $15.98M | $23.37M | $18.11M | $20.49M | $17.49M | $2.82M | $30K | $33K |
| Other | $531K | $743K | $6.73M | $4.54M | $4.05M | $4.75M | $9.46M | $1.13M | $0 | $148K | $0 |
| Total Operating Expenses | $15.3M | $16.14M | $23.79M | $27.43M | $33.74M | $30.69M | $29.95M | $18.62M | $2.82M | $178K | $33K |
| Operating Income (EBIT) | -$15.3M | -$16.14M | -$23.79M | -$27.43M | -$33.74M | -$30.69M | -$30.58M | $0 | -$2.8M | $0 | $0 |
| Operating Margin | - | - | - | - | - | - | - | - | -13586.0% | - | - |
| Interest Expense | $619K | $48K | $299 | $49K | $69K | $236K | $155K | $0 | $0 | $0 | $0 |
| Interest Income | $236K | $573K | $786K | $368K | $1K | $4K | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$11.65M | $1.22M | $5.56M | $726K | -$194K | $2.24M | -$15.88M | -$16.67M | $0 | -$30K | -$33K |
| Income Before Tax (EBT) | -$26.96M | -$14.92M | -$18.23M | -$26.7M | -$33.94M | -$28.45M | -$46.45M | -$16.67M | -$2.8M | -$30K | -$33K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$26.18M | -$14.2M | -$17.9M | -$23.61M | -$35.29M | -$31.8M | -$39.13M | -$22.64M | -$2.8M | -$30K | -$33K |
| Net Income Margin | - | - | - | - | - | - | - | - | -13586.0% | - | - |
| Supplementary Data | |||||||||||
| EPS | -8.11 | -12.49 | -29.39 | -39.62 | -65.63 | -171.62 | -360.45 | -183.54 | -27.75 | -0.29 | -0.32 |
| Diluted EPS | -8.11 | -12.49 | -29.39 | -39.62 | -65.63 | -171.62 | -360.45 | -183.54 | -27.75 | -0.29 | -0.32 |
| Weighted Average OS | 3.29M | 1.14M | 609,056 | 595,882 | 537,618 | 185,291 | 108,557 | 90,848 | 101,000 | 101,000 | 101,000 |
| EBITDA | -$25.79M | -$14.38M | -$15.72M | -$22.12M | -$29.82M | -$24.32M | -$31.98M | -$16.54M | -$2.8M | -$30K | -$33K |
| EBITDA Margin | - | - | - | - | - | - | - | - | -13586.0% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-08-31 | 2015-08-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $1.9M | $6M | $2.76M | $16.98M | $35.26M | $17.52M | $5.97M | $15.52M | $3.77M | $7K | $0 |
| Short-Term Investments | $4.27M | $1.2M | $756K | $23K | $158K | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $6.17M | $7.2M | $3.51M | $17M | $35.42M | $17.52M | $5.97M | $15.52M | $3.77M | $7K | $0 |
| Accounts Receivable | $231K | $3.81M | $7.42M | $374K | $501K | $161K | $1.56M | $980K | $234K | $0 | $2K |
| Inventory | $52K | $117K | $0 | $0 | $0 | $0 | $709K | $0 | $0 | $0 | $0 |
| Other Current Assets | $13K | $861K | $0 | $0 | $8.65M | $8.61M | $0 | -$252K | $0 | $0 | $0 |
| Total Current Assets | $6.47M | $12.05M | $11.09M | $17.85M | $45.93M | $26.87M | $8.56M | $16.57M | $4.28M | $7K | $2K |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $169K | $130K | $120K | $261K | $168K | $0 | $8.98M | $8.91M | $6.59M | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $4.5M | $4.93M | $5.36M | $12.04M | $16.2M | $13.42M | $16.82M | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $2K | $6K | $828K | $660K | $1.68M | $8.86M | $13.26M | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $907K | $7.43M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $4.67M | $5.07M | $6.39M | $20.56M | $17.03M | $15.1M | $34.66M | $22.18M | $6.59M | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $11.14M | $17.12M | $17.47M | $38.41M | $62.96M | $41.97M | $43.22M | $38.75M | $10.88M | $7K | $2K |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $0 | $3.25M | $3.24M | $2.76M | $3M | $2.06M | $3.36M | $1.28M | $1.01M | $28K | $37K |
| Short-Term Debt | $1.87M | $771K | $301K | $301K | $301K | $385K | $1.44M | $0 | $0 | $0 | $18K |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $4.17M | $492K | $31K | $244K | $811K | $1.61M | $1.99M | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $6.05M | $6.68M | $4.57M | $7.83M | $8.7M | $5.58M | $6.83M | $1.28M | $1.01M | $61K | $61K |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $0 | $0 | $38K | $131K | $79K | $110K | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $6.05M | $6.68M | $4.57M | $7.87M | $8.83M | $5.66M | $6.94M | $1.28M | $1.01M | $61K | $61K |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $169.39M | $150.47M | $137.78M | $143.41M | $152.32M | $103.21M | $73.74M | $49.87M | $10.34M | $1.07M | $1.06M |
| Retained Earnings | -$197.93M | -$172.11M | -$157.91M | -$144.16M | -$126.15M | -$90.87M | -$59.07M | -$19.46M | -$3.35M | -$1.3M | -$1.26M |
| Comprehensive Income & Other | $101K | $51K | $417K | $653K | $240K | $208K | -$85K | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $35.44M | $33.12M | $33.37M | $31.3M | $27.96M | $23.97M | $21.61M | $7.05M | $2.88M | $178K | $142K |
| Total Equity | $6.91M | $11.48M | $13.24M | $30.54M | $54.13M | $36.31M | $36.28M | $37.47M | $9.87M | -$54K | -$58K |
| Minority Interest | -$1.82M | -$1.04M | -$328K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $12.96M | $18.16M | $17.8M | $38.41M | $62.96M | $41.97M | $43.22M | $38.75M | $10.88M | $7K | $2K |
| Supplementary Data | |||||||||||
| Total Debt | $1.87M | $825K | $339K | $516K | $556K | $511K | $1.59M | $0 | $0 | $0 | $18K |
| Net Debt | -$29K | -$5.17M | -$2.42M | -$16.46M | -$34.7M | -$17.01M | -$4.38M | -$15.52M | -$3.77M | -$7K | $18K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | CAD | CAD | CAD | CAD | CAD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-08-31 | 2015-08-31 |
| Operating Activities | |||||||||||
| Net Income | -$26.18M | -$14.92M | -$18.23M | -$26.7M | -$33.94M | -$28.45M | -$34.08M | -$16.67M | -$2.81M | -$30K | -$33K |
| Depreciation & Amortization | $546K | $491K | $2.51M | $4.53M | $4.05M | $3.9M | $1.94M | $135K | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $2.95M | $152K | $3.84M | $1.53M | $7.44M | $8.05M | $12.08M | $4.73M | $2.38M | $0 | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | $1.72M | $4.52M | -$729K | -$7.22M | -$107K | $435K | -$388K | -$488K | -$218K | $2K | $881 |
| Inventory | $66K | -$117K | $0 | $0 | $0 | $0 | -$722K | $0 | $0 | $0 | $0 |
| Accounts Payable | $1.2M | $0 | $0 | $0 | $0 | $0 | $825K | $318K | $791K | -$9K | $13K |
| Other Working Capital | -$963K | $5.36M | $2.37M | $96K | $3M | $372K | $1.39M | -$73K | -$268K | $9K | $19K |
| Total Working Capital Change | $2.02M | $9.76M | $1.64M | -$7.12M | $2.89M | $807K | $1.1M | -$242K | $305K | $2K | $33K |
| Other Non-Cash Items | $12.28M | -$2.36M | -$576K | -$575K | -$1.19M | -$3.44M | $5.24M | -$1.52M | $10K | $0 | $0 |
| Net Cash from Operating | -$8.38M | -$6.88M | -$10.83M | -$28.33M | -$20.75M | -$19.13M | -$13.71M | -$13.58M | -$119K | -$27K | -$63 |
| Investing Activities | |||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$114K | -$500K | $0 | -$409K | -$2.96M | -$6.09M | $0 | $0 |
| Acquisitions | $0 | $0 | $32K | $0 | $769K | $0 | $2K | $1.5M | $0 | $0 | $0 |
| Purchases of Investments | -$6.2M | -$7.69M | -$745K | -$402K | $0 | $0 | $0 | -$5.87M | $0 | $0 | $0 |
| Sales of Investments | $4.21M | $6.19M | $443K | $12.89M | $0 | $6.48M | $462K | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | -$250K | $0 | $37K | -$286K | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$1.99M | -$1.5M | -$270K | $12.12M | $269K | $6.51M | -$231K | -$7.34M | -$6.09M | $0 | $0 |
| Financing Activities | |||||||||||
| Debt Repaid | $114K | $64K | $189K | $143K | $58K | $40K | $42K | - | - | - | - |
| Common Stock Issuance | $539K | $10.67M | $34 | $0 | $38.34M | $25.1M | $3.43M | $33.03M | $10.96M | $66K | $0 |
| Common Stock Repurchases | $0 | $0 | -$2.96M | -$1.93M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $424K | $0 | $20K | $0 | $0 | $60K | $623K | -$82K | -$1.01M | -$32K | $0 |
| Net Cash from Financing | $6.21M | $11.62M | -$3.13M | -$2.07M | $38.21M | $24.17M | $4.01M | $32.95M | $9.95M | $34K | $0 |
| Forex Effect | $72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$4.09M | $3.24M | -$14.22M | -$18.28M | $17.73M | $11.56M | -$9.93M | $12.04M | $3.75M | $7K | -$63 |
| Supplementary Data | |||||||||||
| Operating Cash Flow | -$8.38M | -$6.88M | -$10.83M | -$28.33M | -$20.75M | -$19.13M | -$13.71M | -$13.58M | -$119K | -$27K | -$63 |
| Capital Expenditure | $0 | $0 | $0 | -$364K | -$500K | $0 | -$293K | -$2.96M | -$6.09M | $0 | $0 |
| Free Cash Flow | -$8.38M | -$6.88M | -$10.83M | -$28.7M | -$21.25M | -$19.13M | -$14.01M | -$16.54M | -$6.21M | -$27K | -$63 |
| Cash at Beginning | $5.99M | $2.76M | $16.98M | $35.26M | $17.52M | $5.97M | $15.9M | $3.48M | $24K | $0 | $63 |
| Cash at End | $1.9M | $6M | $2.76M | $16.98M | $35.26M | $17.52M | $5.97M | $15.52M | $3.77M | $7K | $0 |