Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) is moving forward with Lucid-MS, its lead drug candidate for multiple sclerosis, while also pursuing commercial opportunities tied to its unbuzzd product, Executive Co-Chairman and Co-Founder Anthony Durkacz said in a recent BioMedWire Podcast.

The company has filed an investigational new drug application for a Phase 2 clinical trial of Lucid-MS. An IND filing is the regulatory step used to seek authorization to test an investigational drug in human subjects, making clearance and trial activation key milestones before patient dosing can begin. If the trial proceeds, it could represent the first administration of the candidate to human patients with multiple sclerosis. Lucid-MS is being developed to address mobility damage associated with MS, a neurodegenerative disease that affects millions of people worldwide.

Durkacz described Quantum BioPharma’s strategy as a combination of clinical-stage pharmaceutical development and commercial ventures. The company’s unbuzzd product, which is designed to accelerate alcohol metabolism, is already commercially available through a spin-out company, Unbuzzd Wellness Inc. (UWI).

As of March 31, 2026, Quantum BioPharma retained a 19.84% ownership stake in UWI. The company is also entitled to royalty payments equal to 7% of sales until cumulative payments reach $250 million. After that threshold is reached, the royalty rate drops to 3% in perpetuity. Quantum BioPharma also retains 100% of the rights to develop similar products for pharmaceutical and medical uses.

The company’s dual approach reflects a broader pattern among biotechnology firms that seek nearer-term revenue from commercial products while continuing to fund longer-term drug development pipelines. For Quantum BioPharma, revenue related to unbuzzd could provide non-dilutive funding for Lucid-MS and other pipeline candidates. The company’s work is focused on neurodegenerative and metabolic disorders, as well as alcohol misuse, placing it in therapeutic areas with substantial medical need.

Lucid-MS is a patented new chemical entity that has shown the ability to prevent and reverse myelin degradation in preclinical models. Myelin degradation is the underlying mechanism of multiple sclerosis, a disease of the central nervous system that can lead to severe disability. The planned Phase 2 trial would be an important development step because it would test Lucid-MS in humans for the first time. The candidate is aimed at MS-related mobility impairment, an area where treatment options remain limited.

Quantum BioPharma’s broader portfolio includes drug candidates at various stages of development for difficult-to-treat conditions. The company has said it is dedicated to building innovative assets and biotechnology solutions. Durkacz used the BioMedWire podcast appearance to discuss the company’s progress and its view of the potential for both Lucid-MS and unbuzzd to address unmet medical needs.

The Phase 2 trial, if conducted, would provide clinical data on Lucid-MS’s safety and efficacy. At the same time, unbuzzd’s commercial performance may provide a measure of Quantum BioPharma’s execution in the consumer health market. The company’s model links commercial revenue opportunities with ongoing clinical development in its pharmaceutical pipeline, with investors and industry observers likely to follow regulatory updates, trial initiation details and reported clinical endpoints as the program advances.