Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) announced that patient enrollment in its collaborative multiple sclerosis (MS) imaging study with Massachusetts General Hospital has reached the halfway mark, with preliminary imaging data showing encouraging signal in acute MS lesions and potential sensitivity to gray matter lesions. The study is evaluating a novel PET imaging technique using the [¹⁸F]3F4AP tracer to directly assess demyelination, which the company believes could enhance development of MS therapies including its investigational candidate Lucid-MS.
According to the company, an Investigational New Drug (IND) submission for a Phase 2 trial of Lucid-MS was submitted to the FDA in March 2026. Lucid-MS is a patented new chemical entity that has demonstrated the ability to prevent and reverse myelin degradation in preclinical models, addressing the underlying mechanism of MS. The imaging study aims to validate a biomarker that could accelerate clinical development of demyelinating therapies.
The study’s midpoint milestone is significant because it brings researchers closer to establishing a direct imaging method to visualize myelin damage in real time. Current diagnostic techniques rely on indirect measures, but the [¹⁸F]3F4AP tracer could provide a more precise assessment of lesion activity and treatment response. The preliminary data showing sensitivity to gray matter lesions is particularly noteworthy, as gray matter damage is increasingly recognized as a key driver of disability progression in MS.
Quantum BioPharma, through its wholly owned subsidiary Lucid Psycheceuticals Inc., is focused on developing treatments for neurodegenerative and metabolic disorders. Beyond MS, the company has also developed UNBUZZD, an OTC product for alcohol misuse, which was spun out to Unbuzzd Wellness Inc. Quantum retains a 19.84% stake in Unbuzzd (as of March 31, 2026) and is entitled to royalty payments of 7% of sales until total payments reach $250 million, after which the royalty drops to 3% in perpetuity. Quantum retains all rights to develop similar products for pharmaceutical and medical uses.
The completion of the imaging study could provide critical data to support the ongoing Phase 2 trial of Lucid-MS and potentially offer a new tool for monitoring disease activity and therapeutic efficacy in MS. The full press release is available at https://ibn.fm/4IZ0y. For more information on Quantum BioPharma, visit the company’s newsroom at https://ibn.fm/QNTM.
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