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.
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.
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 importance of this investigation extends beyond Quantum BioPharma's specific case, as it raises fundamental questions about market integrity and the responsibility of financial institutions to prevent manipulation on their trading platforms. If proven, these allegations could establish new precedents for how banks monitor trading activity and implement safeguards against spoofing and other manipulative practices. The case also highlights how alleged market manipulation can directly impact medical innovation, potentially delaying the development of treatments for serious conditions like multiple sclerosis.
