Quantum BioPharma receives ‘Buy’ rating for Lucid-MS candidate

Quantum BioPharma Ltd. has received a ‘Buy’ rating from Rodman & Renshaw, which initiated coverage with an $8.00 price target. The rating is driven by the potential of the company’s Lucid-MS drug candidate.

Lucid-MS, developed through the company’s subsidiary Lucid Psycheceuticals Inc., is a patented non-immunomodulatory small molecule designed to address neurodegeneration and disability progression in progressive multiple sclerosis. In preclinical models, the compound has shown the ability to prevent and reverse myelin degradation.