Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) announced that CTV News' investigative program W5 has aired Part 2 of its three-part series examining the company's allegations of stock spoofing. The allegations are central to Quantum BioPharma's USD $700 million lawsuit against CIBC and RBC. The segment, reported by award-winning journalist Jon Woodward, highlights the company's claims of widespread market manipulation and its impact on Quantum BioPharma'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, noting that Canadian exchange data cited in the lawsuit points to millions of purportedly illegal orders originating from bank platforms. The company has long argued that such manipulation undermines investor confidence and hampers its ability to secure funding for critical research.
Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS, a patented new chemical entity shown to prevent and reverse myelin degradation in preclinical models.
The W5 series has brought renewed attention to the issue of market manipulation in Canada. The company's lawsuit alleges that spoofing—placing orders with the intent to cancel them before execution—has artificially depressed its stock price, making it difficult to raise capital. This is particularly concerning for a small-cap biotech firm like Quantum BioPharma, which relies on investor funding to advance its drug pipeline.
In addition to its legal battle, Quantum BioPharma has been actively developing other assets. It invented unbuzzd(TM) and spun out its OTC version to Unbuzzd Wellness Inc., retaining a 20.11% ownership stake as of March 31, 2025, and royalty payments of 7% of sales until $250 million is reached, after which the royalty drops to 3% in perpetuity. The company also maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.
The implications of the W5 segment extend beyond Quantum BioPharma. If the allegations are proven, it could lead to regulatory reforms and increased scrutiny of trading practices on Canadian exchanges. For now, the company continues to push forward with its legal case and its mission to develop treatments for multiple sclerosis and other conditions. More information is available in the company's newsroom at https://ibn.fm/QNTM.
For the full press release, visit https://ibn.fm/t3Tex.
