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*Disseminated on Behalf of Quantum BioPharma Ltd. Krypton Street Is Putting All Eyes On (QNTM) This Morning
—Wednesday, April 1, 2026
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Take A Look At (QNTM) While It's Still Early…
April 1, 2026
Just Announced | (QNTM) Makes an Approx. 42% Move on Breaking News
Dear Reader, Here at Krypton Street, we're always watching for developments that can shift attention quickly—and a major update just crossed the wire that's putting (QNTM) right in the spotlight. Quantum BioPharma Ltd. (NASDAQ: QNTM) has our full attention right now following confirmation that the company has formally submitted an Investigational New Dr-ug (IND) application to the U.S. FDA for its lead Multiple Sclerosis candidate, Lucid-MS. This submission marks a key step forward, supporting the company's planned Phase 2 clinical trial and advancing its broader clinical development timeline. With Phase 1 already completed and showing a favorable safety profile, the next phase is now positioned to move ahead pending FDA clearance. At the same time, (QNTM) is already showing strong momentum in the market—tapping $5.44 earlier today, representing an approximate 42% move from yesterday's $3.81 range—while also triggering multiple bullish signals on TradingView's technical analysis platform. When clinical milestones and technical momentum begin aligning like this, it tends to draw increased attention quickly. If you missed my earlier email coverage, keep reading to quickly get up to speed on why we're so excited to be highlighting (QNTM) today. ===== Here at Krypton Street, we're always tracking where breakthrough science meets emerging market momentum—and right now, the biopharmaceutical landscape is showing a clear shift toward data-driven therapeutic development, as advanced computing becomes increasingly important in the search for new treatments. Companies operating at the intersection of medical research and computational analysis are drawing added attention for their ability to streamline discovery and validation efforts. This model is becoming especially relevant in areas such as neurodegenerative and metabolic disorders, where unmet medical needs remain significant. The combination of specialized science and technology-driven analysis is helping shape a new generation of biotech companies with broader strategic flexibility. Quantum BioPharma Ltd. (NASDAQ: QNTM) is one example of this evolving approach, integrating advanced computing with specialized medical research to support the development of novel candidates. Which is exactly why (QNTM) just hit our radar and is topping our watchlist this morning—Wednesday, April 1, 2026. But keep in mind, (QNTM) has less than 4M shares listed as available to the public. When companies have small floats like this, the potential exists for big moves if demand begins to shift. Analyst Targets Suggest 700% to Over 1,000% Upside Potential
In addition, several analysts have published targets on (QNTM) that imply substantial upside potential from its recent $4 range. Singular Research set a $35.50 target on (QNTM), which suggests over 700% upside potential. Kingswood Capital Partners set a $45 target on (QNTM), which suggests over 1,000% upside potential from its recent range. 
Formerly known as Lucid BioPharma, the company rebranded to reflect this focus. With a pipeline spanning neurodegenerative diseases and metabolic disorders, the company is building a hybrid model that connects traditional dr-ug discovery with the next phase of biotech innovation. And when you begin to look more closely at the company's clinical assets, strategic positioning, and technology-driven model, it becomes easier to see why (QNTM) has started drawing added attention. Here's a closer look at what is driving our interest. Integrating Technology and Therapeutics
Quantum BioPharma Ltd. (NASDAQ: QNTM) is a clinical-stage biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory, and metabolic disorders. The company's mission is to develop novel solutions for brain and inflammatory disorders through a proprietary platform that combines traditional pharmacology with advanced computational analysis. By focusing on indications with significant patient populations and limited existing treatment options, (QNTM) aims to improve quality of life across a broad patient base. The company's core strategy involves the dual advancement of its clinical assets and its technology-driven discovery engine. This approach allows (QNTM) to move its own proprietary candidates through the regulatory path while identifying potential out-licensing pathways early in the development cycle. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., the company is focused on the research and development of its lead compound, Lucid-MS. Clinical Pipeline and Core Research Areas

The (QNTM) research portfolio is currently prioritized toward therapeutic areas where current standards of care are insufficient, specifically neurodegenerative and neuropsychiatric diseases. Its lead candidate, Lucid-MS (Lucid-21-302), is a patented new chemical entity designed to prevent and reverse myelin degradation, the underlying mechanism of Multiple Sclerosis (MS). Unlike current dr-ugs that require injection or infusion, Lucid-MS is being developed as an oral formulation. Beyond MS, the company has completed dosing in oral toxicity studies supporting a future Investigational New Dr-ug (IND) application for other neurodegenerative conditions. (QNTM) also invented unbuzzd™, a dietary supplement designed to accelerate alcohol metabolism. A recent double-blind, peer-reviewed clinical trial published in the World Journal of Pharmaceutical and Medical Research demonstrated that unbuzzd™ reduced Blood Alcohol Concentration (BAC) more than 40% faster than a placebo within the first 30 minutes. Strategic Partnerships and Intellectual Property
A major component of Quantum BioPharma's growth is its commitment to building a robust intellectual property (IP) moat. The company has rights to patent families licensed on an exclusive basis, protecting its neuroprotective compounds and computational discovery algorithms. On March 30, 2026, the company signed a binding Letter of Intent (LOI) with Allucent, a global contract research organization, to conduct a Phase 2 clinical trial for Lucid-MS. (QNTM) also retains significant financial optionality through its spun-out assets. The company holds a 19.84% ownership stake in Unbuzzd Wellness Inc. and is entitled to royalty payments of 7% of sales until they reach $250M, at which point the royalty remains at 3% in perpetuity. Furthermore, the company retains a tax loss carry forward of approximately C$130M, which can be used to offset future tax obligations against profits. Recent Developments
- [Phase 2 Trial Milestone]: On March 30, 2026, Quantum announced it expects to initiate the Phase 2 trial for Lucid-MS in the second quarter of 2026, following its strategic partnership with Allucent.
- [Peer-Reviewed Validation]: On March 23, 2026, a groundbreaking clinical trial for unbuzzd™ was published in a peer-reviewed journal, showing definitive acceleration of BAC reduction and symptom improvement.
- [Audited Financial Results]: On March 27, 2026, the company released its 2025 year-end audited results, confirming a strong balance sheet with no "going concern" status.
- [Principal Investigator Appointment]: On March 26, 2026, the company appointed a Principal Investigator for its upcoming MS Phase 2 study, further solidifying its clinical execution plan.
- [Toxicity Study Completion]: The company completed 180-day repeated dose oral toxicity studies for Lucid-MS, reporting no toxicity or significant side effects, supporting its move into human efficacy trials.
Financial Positioning and Market Potential
As of March 27, 2026, (QNTM) reported cash and digital assets totaling $11.3M. Management believes this provides sufficient working capital to sustain basic operations beyond January 2028, representing a runway of nearly two years. The company also reduced its trade payables by approximately 50% over the last year, from $4.1M to $2.0M. Operating in the $38B Multiple Sclerosis market (projected by 2030) and the $238B mental health market, Quantum is positioned to capture value through its first-in-class neuroprotective therapies. With a market capitalization of approximately $22M, the company presents a potential value-inflection point as it transitions into Phase 2 clinical data readouts. 7 Factors Putting (QNTM) On The Top Of This Morning's Watchlist —Wednesday, April 1, 2026…
1. Analyst Coverage: Several analyst targets on (QNTM), including $35.50 from Singular Research and $45 from Kingswood Capital Partners, suggest over 700% to more than 1,000% upside potential from its recent $4 range.
2. Low Float: With fewer than 4M shares listed as available to the public, (QNTM)'s small float could witness the potential for big moves if demand begins to shift. 3. Phase 2: A binding LOI with Allucent and an expected Phase 2 start in Q2 2026 give (QNTM) a near-term clinical milestone to watch. 4. Oral MS: Lucid-MS gives (QNTM) a lead candidate aimed at Multiple Sclerosis with an oral formulation rather than injection or infusion. 5. Peer Review: Published peer-reviewed data showing unbuzzd™ reduced BAC more than 40% faster than placebo within the first 30 minutes adds scientific validation to part of the (QNTM) portfolio. 6. Asset Value: A 19.84% stake in Unbuzzd Wellness, royalty rights tied to sales, and an approximately C$130M tax loss carryforward give (QNTM) several additional balance-sheet and asset-based talking points. 7. Capital Runway: As of March 27, 2026, (QNTM) reported $11.3M in ca-sh and digital assets, with management stating this supports basic operations beyond January 2028. Take A Look At (QNTM) While It's Still Early…

What continues to stand out about (QNTM) is how multiple factors are beginning to align at the same time. A small float of fewer than 4M shares creates the potential for big moves if demand begins to shift, while published analyst targets suggest 700% to more than 1,000% upside potential from recent levels is putting (QNTM) at the top of our watchlist right now. At the same time, the expected Phase 2 initiation in Q2 2026 marks an important clinical step forward, supported by a lead MS candidate designed as an oral formulation rather than injection or infusion. Beyond the pipeline, peer-reviewed data validating unbuzzd™ and a reported $11.3M in ca-sh and digital assets, with runway projected beyond January 2028, add additional layers to the overall picture. When combined with royalty rights, a 19.84% stake in Unbuzzd Wellness, and a C$130M tax loss carryforward, (QNTM) presents a mix of clinical progress and underlying asset value that could start to draw increased attention. (QNTM) is our primary focus this morning. Take a look at (QNTM) while it's still early. Watch for my next update, it could be hitting any moment. Sincerely, Alex Ramsay
Co-Founder / Managing Editor Krypton Street Newsletter
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