Q BioMed Inc (OTCMKTS:QBIO) just announced that its technology research partner Mannin Research Inc. presented positive data on a potential new treatment for acute kidney injury (AKI).
According to the release, “The data was presented at the American Society for Nephrology 2019 Annual Meeting held in Washington DC. In the US alone, the cost of hospitalizations for patients with complications arising from AKI can range between $5.4 and $24.0 billion1. There is a significant opportunity to advance a therapeutic solution to treat AK and address a patient population that contributes to 20% of all hospitalizations in the US2. Current treatments for AKI are mainly supportive and do not treat the underlying condition.”
Q BioMed Inc (OTCMKTS:QBIO) trumpets itself as a biomedical acceleration and development company that focuses on licensing, acquiring, and providing resources to life sciences and healthcare companies.
The company offers Strontium Chloride SR89, a radiopharmaceutical therapeutic for the treatment of bone cancer pain therapies. It is also developing Man-01, a pre-clinical lead candidate for the treatment of primary open angle glaucoma; BM-001 for the treatment of rare pediatric nonverbal autism spectrum disorder; and Uttroside-B for liver cancer.
Q BioMed Inc. has a research collaboration with Chemveda Life Sciences India Private Limited for the synthesis of Uttroside B, which is isolated from the leaves of Solanum nigrum and its analogues for use in the clinical trials and treatment of hepatocellular carcinomas, and other targets and therapeutic areas.
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.
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As noted above, QBIO just announced that its technology research partner Mannin Research Inc. presented positive data on a potential new treatment for acute kidney injury (AKI).
Traders will note just under 320% piled on for shareholders of the stock during the trailing month, but this action is running counter to the larger trend in the name. Furthermore, the name has seen interest climb, with an increase in recent trading volume of approaching 420% beyond its prior sustained average level. This should not be overlooked due to the tight float size in the stock (under 13M shares). It’s something the veterans know to key on: with such a tight trading float, this kind of ramping interest can force a supply-shock squeeze.
“We are very encouraged by this data. Taken together with our recently announced funding and establishment of a research center in Saxony, Germany, this data will enable us to advance our program in developing therapeutics to treat acute kidney injury, bolstering our pipeline,” said Dr. Nikopoulos. “We look forward to the day when we can make a difference in the lives of patients with kidney and cardiovascular diseases.”
Now commanding a market cap of $27.8M, QBIO has a bankroll ($302K) of cash on the books, which must be weighed relative to about $2.9M in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $QBIO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $QBIO, either long or short, and we have not been compensated for this article.