Q BioMed Inc (OTCMKTS:QBIO) is an interesting play in the small-cap biotech space. The stock has been powering higher so far in 2019, with shares blasting as much as 150% higher off the stock’s December lows on strong volume and participation. To further flesh out the story, the company just announced that in the February issue of DDNews, journalists conducted an interview with Q BioMed CEO Dennis Corin, focused on the mechanism of action, development path, and market opportunities of QBM-001 which is being developed to help treat rare pediatric non-verbal autism spectrum disorder.
According to the release, “Among the over 60,000 U.S. children who develop Autism Spectrum Disorders (ASD) every year, approximately 20,000 become non-verbal. The statistics are similar in Europe. Currently, there are no drugs available to treat this condition. As a result, the lifetime costs of assisted living and supplemental healthcare average $10 million per person and is currently estimated to cost the healthcare system over $200 billion a year. This is compounded by an additional $10 million during the lifespan of the person due to loss in productivity. There is no measure of the severe emotional strain for families when a child is non-verbal.”
Q BioMed Inc. (OTCMKTS: QBIO) is a biotechnology acceleration and development company focused on acquiring and in-licensing pre-clinical, clinical-stage and approved therapeutic products and advancing them through value inflection points to create shareholder value. Q BioMed’s near term focus is on FDA approved product, generic Strontium-89, a radiopharmaceutical for metastatic cancer bone pain, which is expected to be launched in Q218. Other candidates in the pipeline include QBM-001 for rare pediatric non-verbal autism spectrum disorder, Uttroside-B for liver cancer, and MAN-01 for glaucoma. Investigational new drug application (IND) is expected in 2Q18, with Phase 2/3 trial initiation in rare pediatric nonverbal disorder in summer of 2018. IND-enabling studies are ongoing, for both Uttroside-B for liver cancer and MAN-01 for glaucoma, with filing expected in 2019.
This is a biomedical acceleration and development company that focuses on licensing, acquiring, and providing resources to life sciences and healthcare companies.
The company offers Strontium Chloride SR89, a radiopharmaceutical agent for the treatment of pain associated with metastatic bone cancer. It is also developing Man-01, a pre-clinical lead candidate for the treatment of primary open angle glaucoma. Q BioMed Inc. has a partnership with Sphaera Pharma to develop an analog of QBM-001 for pediatric developmental nonverbal disorder; and a collaborative agreement with SRI International to provide formulation development, preclinical development, and early clinical manufacturing of QBM-001.
The company was formerly known as ISMO Tech Solutions, Inc. and changed its name to Q BioMed Inc. in July 2015. Q BioMed Inc. was founded in 2013 and is based in New York, New York.
According to company materials, “We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q is dedicated to providing these target assets; strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.”
As noted above, QBIO recently announced that in the February issue of DDNews, journalists conducted an interview with Q BioMed CEO Dennis Corin, focused on the mechanism of action, development path, and market opportunities of QBM-001 which is being developed to help treat rare pediatric non-verbal autism spectrum disorder.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. QBIO shares have been moving higher over the past week overall, pushing about 11% to the upside on above average trading volume.
“QBM-001 is a combination therapy that is designed to reduce the levels of two molecules that are elevated in our target group by targeting multiple pathways. When these two molecules are elevated, they are known to induce neurodegeneration and inhibit speech,” the article quoted Mr. Corin’s description of the groundbreaking drug’s mechanism of action.
Q BioMed Inc (OTCMKTS:QBIO) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($787K against $707K).