Quantum BioPharma Ltd. (NASDAQ: QNTM) announced that its multiple sclerosis drug candidate, Lucid-MS, is preparing to enter phase 2 clinical trials, according to a press release from the company.

Lucid-MS is described by the company as a patented new chemical entity that targets the myelin sheath, the protective nerve covering that MS progressively damages. The compound has shown the ability to prevent and reverse myelin degradation in preclinical models, the company stated.

More than 2.9 million people worldwide are living with MS, a disease for which no cure currently exists. Approved treatments can slow the disease's progression but have not been shown to halt it completely.

Quantum BioPharma is a biopharmaceutical company focused on neurodegenerative and metabolic disorders, as well as alcohol misuse disorders. The company holds a 19.84% ownership stake in Unbuzzd Wellness Inc., as of March 31, 2026, a spinout that commercializes a product Quantum originally developed. Under the terms of the spinout agreement, Quantum receives a 7% royalty on Unbuzzd sales until cumulative payments reach $250 million, after which the royalty rate drops to 3% in perpetuity.