Quantum BioPharma Ltd. has been featured in the second part of a three-part investigative series by CTV News' W5 program examining the company's allegations of stock spoofing tied to its $700 million lawsuit against CIBC and RBC. The segment, reported by award-winning journalist Jon Woodward, highlights Quantum BioPharma's claims of widespread market manipulation and its impact on the company's efforts to advance Lucid-MS, a potential multiple sclerosis treatment. CEO Zeeshan Saeed and Co-Executive Chair Anthony Durkacz reiterated their concerns about the alleged activity during the W5 report, noting that Canadian exchange data cited in the lawsuit points to millions of purportedly illegal orders originating from bank platforms.
The company maintains that these activities have significantly affected its ability to develop Lucid-MS, a patented new chemical entity shown to prevent and reverse myelin degradation in preclinical models. Quantum BioPharma, which trades on both NASDAQ and the Canadian Securities Exchange, is a biopharmaceutical company focused on developing treatments for neurodegenerative and metabolic disorders. Through its wholly owned subsidiary Lucid Psycheceuticals Inc., the company is advancing Lucid-MS as its lead compound for multiple sclerosis treatment. The company also retains ownership of 20.11% of Unbuzzd Wellness Inc. and receives royalty payments from sales of unbuzzd(TM) products.
The W5 investigation brings increased public attention to allegations that have been circulating in financial and legal circles since Quantum BioPharma filed its lawsuit. The company's latest news and updates relating to QNTM are available in the company's newsroom at https://ibn.fm/QNTM. The full press release about the W5 coverage can be viewed at https://ibn.fm/t3Tex. This coverage comes as Quantum BioPharma continues to build its portfolio of innovative assets through its wholly owned subsidiary FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.
The company's allegations against the major Canadian banks represent a significant challenge to traditional market practices and could have broader implications for how financial institutions monitor and prevent potential market manipulation activities on their platforms. The case highlights the potential vulnerability of emerging biopharmaceutical companies to market manipulation tactics that can undermine their ability to raise capital for critical research and development. As Quantum BioPharma pursues its lawsuit, the outcome could establish important precedents regarding financial institutions' responsibilities in detecting and preventing spoofing activities on their trading platforms. The investigation's public exposure through mainstream media brings these complex financial allegations to a broader audience, potentially increasing scrutiny of market practices that have traditionally operated within specialized financial circles.
