We put out a piece on QBIO a few days ago. So far, that is looking like a very promising call.
The company continues to push and the stock clearly remains in favor. Shares rebounded nicely off of a test of the $1.50 level on Tuesday and pushed sharply higher on Wednesday to break back above the stock’s 50-day simple moving average.
Shareholders will be keen to watch the stock on Friday as it lines up a possible test of the $2/share level. QBIO has been one of the hottest plays in the red-hot small-cap biotech space so far in 2019.
Q BioMed Inc. (OTCMKTS: QBIO) is an interesting player in the small float small-cap biotech growth space that has projects in motion to attack a major growth market (non-verbal learning disorder) with little competition and big potential. And the chart is screaming that smart traders and investors should do some due diligence here – which is why we put in front of you today.
This is 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 agent for the treatment of pain associated with metastatic bone cancer. It is also developing Man-01, a pre-clinical lead candidate for the treatment of primary open angle glaucoma. Q BioMed Inc. has a partnership with Sphaera Pharma to develop an analog of QBM-001 for pediatric developmental nonverbal disorder; and a collaborative agreement with SRI International to provide formulation development, preclinical development, and early clinical manufacturing of QBM-001.
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.
According to company materials, “We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q is dedicated to providing these target assets; strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.”
Q BioMed Inc (OTCMKTS:QBIO) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($787K against $707K).