Q BioMed Inc (OTCMKTS:QBIO) is a penny play in the biotech space that has really started to grab hold of the OTC trading crowd in recent days. Shares of the stock have been manic, powering nearly 60% at their peak in that time. The key catalyst driving the action appears to be the company’s recent announcement that it received $1,000,000 on the 2nd closing of its $4M capital raise, bringing the total received to date to $2.5MM. “We expect to receive the remaining $1.5MM upon effectiveness of our recently filed registration statement on Form S-1.”
According to the release, the company also announced that it has begun process validation for the manufacturing of the non-narcotic analgesic treatment for pain associated with metastatic bone cancer. “The drug, generic Strontium Chloride 89 injection, provides long-lasting relief for patients suffering from debilitating bone pain due to metastatic cancer, typically caused by advanced-stage breast, prostate or lung cancer. It has been proven to provide a long-term effect, resulting in cancer pain relief and enhanced quality of life.“ Now, we just need to see the two concepts paired together: capital applied to manufacture and go-to-market.
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 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, the company just received its secondary capital tranche and has begun process validation for the manufacturing of the non-narcotic analgesic treatment for pain associated with metastatic bone cancer.
The stock is ripping because it’s a bit like seeing a company announce the acquisition of a bunch of gas and a car. When you put them together, you can really go somewhere. In this case, the company now has the means to meet their projections and start generating on the top line by the end of Q2.
According to their most recent release, there are approximately 350,000 cases of patients living with bone metastases in the U.S. alone. In addition, 380,000 new diagnoses of patients with breast, prostate and lung cancer occur every year and approximately 1 in 3 of those will develop bone metastases.
Recent action has seen 41% piled on for shareholders of the company during the trailing week. The situation may be worth watching. QBIO has a track record that includes a number of dramatic bounces. Moreover, the listing has registered increased average transaction volume recently, with the past month seeing 66% over what the stock has registered over the longer term.
Traders should note this as important due to the tiny float size in the stock (of 3.4M shares). As savvy traders are well aware, a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.
Earning a current market cap value of $43.8M, QBIO has about $1.5M in total cash on the books, which stands against roughly $3.2M in total current liabilities. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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!