Q BioMed Inc (OTCMKTS:QBIO) is a penny play in the biotech space that’s clearly begun to spur some interest among players in the marketplace as shares bounce up off recent lows. As we noted last time, there are two primary stories for this stock: new capital and a licensed radiopharmaceutical agent indicated for the treatment of pain associated with metastatic bone cancer. That said, the stock is quite interesting in its own right, as a biomedical acceleration and development company. There isn’t much new information out on the name in 2017 other than an announcement that company will present at the 9th Annual Biotech Showcase 2017 being held January 9-11, 2017 in San Francisco.
As far as the chart goes, this has been a roller coaster ride of late, with 58% piled on for shareholders of the listing during the trailing month. The situation may be worth watching from here, as QBIO has a history of dramatic rallies. Furthermore, the name has seen an influx in interest of late, with the stock’s recent average trading volume running greater than 310% over what the stock has registered over the longer term. This should not be overlooked given the stock’s tiny trading float of around 4.7M shares. It’s something the veterans know to key on: a restricted trading float and a jump in trading volume can crimp supply and push share prices higher.
Q BioMed Inc (OTCMKTS:QBIO) bills itself as a biomedical acceleration and development company in the United States. The company focuses on licensing, acquiring, and providing resources to life sciences and healthcare companies. Its primary target indication is for a therapeutic eye-drop for the treatment of glaucoma in adults. The company’s lead candidate is MAN-01.
The company was formerly known as ISMO Tech Solutions, Inc. and changed its name to Q BioMed Inc. in July 2015. Q BioMed Inc. was founded in 2013 and is based in New York, New York. QBIO is a biomedical acceleration and development company. The Company is focused on licensing and acquiring biomedical assets across the healthcare spectrum. QBIO is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital the need to ensure they meet their developmental potential, enabling them to provide products to patients in need.
According to company materials, QBIO “is a biomedical acceleration and development company. We are focused on licensing and acquiring biomedical assets across the healthcare spectrum. Q is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital the need to ensure they meet their developmental potential, enabling them to provide products to patients in need.”
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As noted above, this week may be a source of new catalysts on the stock as management presents its story at Biotech Showcase 2017. According to the press release, “Taking place during one of the industry’s largest annual healthcare investor conferences, this investor and partnering conference attracts pharmaceutical executives from around the world focused on investment and business development opportunities in the life sciences industry.”
For those unable to attend the conference, management has provided some updates in its latest release:
“We closed 2016 with two pipeline technologies under the ‘Q’ umbrella; essentially bookends of the multi-asset business model we are building. One early stage, opportunity in the highly sought after glaucoma space and one FDA approved, drug for bone cancer palliation. In addition, we recently secured the funding to allow us to execute on the near-term milestones to advance our business.”
The company also noted that “Revenue from sales of our non-narcotic pain palliative drug will be a major catalyst for Q BioMed and we look forward to providing additional guidance on the timing of this in the near future.” That guidance will likely be a major catalyst going forward.
Currently trading at a market capitalization of $65.1M, QBIO has virtually no cash on the books, which must be weighed relative to virtually no total current liabilities. QBIO is pulling in trailing 12-month revenues of $49K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -34.1%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $QBIO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!