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QNTM on Nasdaq

Quantum Biopharma Ltd.

Quantum Biopharma Ltd. is a Canadian pharmaceutical preparations company based in Toronto.2 Its shares trade on Nasdaq under the symbol QNTM.2

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Last updated Oct 21, 2026.

Overview

Compare with Helus Pharma Inc., Adastra Holdings Ltd. or PyroGenesis Canada Inc., or pick any stock.

  • TickerQNTM on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersToronto, Canada2
  • Incorporated inOntario, Canada3
  • Business address1 Adelaide Street East, Suite 801, Toronto, M5C 2V93
  • Filer categoryNon-accelerated filer, Emerging growth company3
  • Legal formBusiness corporations (which includes professional corporations)2
  • LEI529900Z3CEEEN7U9B6682
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address1 Adelaide Street East, Suite 801, M5C 2V9 Toronto, Canada2
  • Registered withMinistry of Government and Consumer Services, 13215572

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Voting Shares ”), and eliminate the existing non-voting class A preferred shares and non-voting class B preferred shares.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CAD, the currency the company reports in.

Key numbers, fiscal 2019

-936.2%Gross margin5
-8745.4%Operating margin6
-15219.6%Net margin6
-107.9%Return on equity7

Where the money goes

Where each dollar of revenue went, fiscal 2019

  • Other costs100¢257.1K CAD

Out of 257.1K CAD in revenue.56 The company lost money this year.

Financial statements

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
General and administrative$9.0M$9.4M$9.0M
External research and development fees$2.8M$6.1M$3.9M
Share-based payments$2.9M$152.2K$3.8M
Depreciation and amortization$545.8K$490.6K$2.5M
Impairment loss$0$0$4.6M
Total operating expenses$15.3M$16.1M$23.8M
Loss from operations-$15.3M-$16.1M-$23.8M
Interest income-$236.1K-$572.9K-$786.4K
Other income-$1.9M-$4.0K$0
Finance expense, net$158.1K$33.0K$299
Accretion and interest expense$460.6K$14.6K$0
(Gain) on settlement of debt-$43.3K-$732.4K$0
(Gain) on measurement of financial liability$0$0-$4.9M
Change in fair value of derivative liabilities and warrant liability$11.9M-$104.5K-$212.3K
Unrealized loss on change in fair value of digital assets$771.9K$141.8K$0
Realized (gain) on sale of digital assets-$593.9K$0$0
Change in fair value of investments-$258.0K$3.7K$378.4K
Realized (gain) on sale of investments-$175.2K$0$0
Realized loss on sale of finance receivables$117.1K$0$0
Loss on issuance of convertible debt$1.5M$0$0
Net loss-$27.0M-$14.9M-$18.2M
Exchange gain (loss) on translation of foreign operations$40.7K-$366.5K-$235.3K
Comprehensive loss-$26.9M-$15.3M-$18.5M
Equity owners of the Company-$26.2M-$14.2M-$17.9M
Non-controlling interests-$781.6K-$712.8K-$328.4K
Total Comprehensive loss-$27.0M-$14.9M-$18.2M
Basic - continuing operations (in Dollars per share)-$8.20-$13.12-$29.93
Diluted - continuing operations (in Dollars per share)-$8.20-$13.12-$29.93
Weighted average number of shares outstanding basic (in Shares)3.3M shares1.1M shares609.1K shares
Weighted average number of shares outstanding diluted (in Shares)3.3M shares1.1M shares609.1K shares

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Corporate structure

Quantum Biopharma Ltd. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Quantum Biopharma Ltd.

  • AdvisorShares Trust Filed SCHEDULE 13G/A on Quantum Biopharma Ltd., latest Oct 5, 2026 (2 filings since Jul 8, 2026)
  • Malone Wealth Ventures LLC Filed SCHEDULE 13G/A on Quantum Biopharma Ltd., latest Feb 3, 2026 (12 filings since Jun 11, 2025)
  • Raza Bokhari Filed SC 13D/A on Quantum Biopharma Ltd., latest Apr 11, 2022
  • Quantum Biopharma Ltd. Toronto, Ontario, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Quantum Biopharma Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$67.0K8 Dec 31, 2025$76.9K8 Dec 31, 2024−12.8%
Operating-lease assets (leased space)$102.3K8 Dec 31, 2025$53.5K8 Dec 31, 2024+91.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.9M8 Dec 31, 2025$6.0M8 Dec 31, 2024−68.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$4.5M8 Dec 31, 2025$4.9M8 Dec 31, 2024−8.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$52.1K8 Dec 31, 2025$117.2K8 Dec 31, 2024−55.5%

Former names

  • FSD Pharma Inc.Oct 15, 2019 to Aug 15, 20243

Timeline

  1. Nov 1, 1998Founded Quantum Biopharma Ltd. is founded2

Calendar

Coming up

  1. Nov 6, 2026Reports results for the quarter ending Sep/202610

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

276 filings to the SEC since October 2021: 6 annual reports, 15 large holders, 255 other. The latest 20:

  1. Oct 8, 20266-K EDGAR
  2. Oct 6, 20266-K EDGAR
  3. Oct 5, 2026SCHEDULE 13G/A EDGAR
  4. Sep 24, 20266-K EDGAR
  5. Sep 17, 20266-K EDGAR
  6. Sep 17, 20266-K EDGAR
  7. Sep 15, 20266-K EDGAR
  8. Sep 8, 20266-K/A EDGAR
  9. Sep 8, 20266-K/A EDGAR
  10. Sep 8, 20266-K/A EDGAR
  11. Sep 2, 20266-K EDGAR
  12. Aug 14, 20266-K EDGAR
  13. Aug 13, 20266-K EDGAR
  14. Aug 13, 20266-K/A EDGAR
  15. Aug 10, 20266-K EDGAR
  16. Jul 8, 2026SCHEDULE 13G EDGAR
  17. Jun 2, 20266-K EDGAR
  18. Jun 2, 20266-K EDGAR
  19. May 18, 20266-K EDGAR
  20. May 7, 20266-K EDGAR

The 276 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 26. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
AdvisorShares Investments LLC203,564$736.9K0.1%+94,973
Jane Street Group, LLC48,355$175.0K0.0%+16,854
Platform Technology Partners41,116$148.8K0.0%No change
UBS Group AG33,405$120.9K0.0%+26,168
Steward Partners Investment Advisory, LLC27,881$100.9K0.0%+23,500
Citadel Advisors LLC15,863$57.4K0.0%No change
Marex Group Ltd13,436$48.6K0.0%−32
Mariner, LLC10,000$36.2K0.0%−59
Lanark Financial, Inc.7,000$25.3K0.0%New
Osaic Holdings, Inc.6,295$22.8K0.0%−80
Global Retirement Partners, LLC3,000$10.9K0.0%New
Jones Financial Companies Lllp1,209$4.6K0.0%+509
Atlantic Union Bankshares Corp1,000$3.6K0.0%No change
Farther Finance Advisors, LLC1,000$3.6K0.0%No change
Morgan Stanley600$2.2K0.0%New
Royal Bank Of Canada446$2.0K0.0%+427
Wells Fargo & Company/mn250$9070.0%+150
Cetera Trust Company, N.A250$9050.0%No change
Federation des caisses Desjardins du Quebec93$3340.0%No change
SBI Securities Co., Ltd.79$2860.0%+4
Group One Trading LLC34$1230.0%No change
Rockefeller Capital Management L.P.30$1090.0%No change
Activest Wealth Management15$540.0%No change
TD Waterhouse Canada Inc.6$200.0%−14
Citigroup Inc1$40.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Quantum Biopharma Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARQuantum Biopharma Ltd.1
  • CIK0001771885
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inOntario, Canada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1 Adelaide Street East, Suite 801, Toronto, M5C 2V9, Ontario, Canada1
  • Phone(416) 854-88841
  • Shares outstanding42 Class A Multiple Voting shares; 3,887,729 Class B Subordinate Voting shares as of Dec 31, 20254
  • AuditorMNP LLP, Mississauga, Canada PCAOB ID 1930; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 15, 20191
  • Filings356 in all: 6-K (294), 6-K/A (11), SCHEDULE 13G/A (8), 20-F (5), 424B5 (4), SUPPL (4), F-X (3), SCHEDULE 13D/A (3)1
    All 26 form types

    40-F (2), D (2), F-10 (2), SC 13D (2), SC 13D/A (2), SCHEDULE 13G (2), 20-F/A (1), 40-F/A (1), 40FR12B (1), CERT (1), CORRESP (1), EFFECT (1), F-10/A (1), F-3 (1), FWP (1), RW (1), SCHEDULE 13D (1), UPLOAD (1)

  • Latest filingsAnnual report (20-F) Mar 26, 2026

Securities registered for trading

ClassSymbolExchange
Class B Subordinate Voting Shares, no par valueQNTMThe Nasdaq Stock Market LLC

From the cover page of the 20-F filed Mar 26, 2026 (Section 12(b) of the Exchange Act).4

Sources

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