Quantum BioPharma Stock Is Soaring Tuesday: What's Driving The Action?

Quantum BioPharma Ltd QNTM shares are rising Tuesday after the company announced positive clinical trial results for its unbuzzd dietary supplement.

What Happened: Quantum BioPharma announced that it completed a double-blind, randomized, placebo-controlled crossover design clinical trial of unbuzzd that was aimed at investigating its effects on alcohol intoxication and alcohol metabolism.

Results showed that unbuzzed accelerated the rate at which Blood Alcohol Concentration (BAC) was reduced in study subjects, reducing symptoms of intoxication and hangover.

The rate at which BAC was lowered on average was more than 40% faster within 30 minutes of consuming unbuzzed. All results in the study were considered statistically significant compared to placebo.

“This clinical trial shows that unbuzzd is an important addition to the safe and responsible consumption of alcohol. Consumers now have the benefit of knowing that unbuzzd can reduce alcohol intoxication, speed the reduction of blood alcohol concentration, restore mental alertness and well-being, and help them avoid the worst symptoms of a hangover,” said Zeeshan Saeed, CEO of Quantum BioPharma.

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Quantum BioPharma said the effects of unbuzzd occurred within 30 minutes after consumption of the dissolved powder. The company noted that unbuzzd was well-tolerated and safe, with no reported product-related adverse effects.

Quantum BioPharma is considered a low-float stock with just 1.83 million shares available for public trading, according to Benzinga Pro. The company also had a market cap of approximately $6 million as of Monday's close. Low-float, micro-cap stocks can be extremely volatile, which may be contributing to some of Tuesday's surge.

QNTM Price Action: Quantum BioPharma shares were up 79.6% at $5.71 at the time of publication Tuesday, according to Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.