Quantum Biopharma (QNTM) reported a 2024 net loss of $14.9 million, narrowing from the loss of $18.2 million a year earlier.
Cash and cash equivalents were $12.1 million as of December 31, compared with $11.1 million a year earlier, the company said Friday in a statement.
A "strong balance sheet and overall progress" enabled the company to remove its "material uncertainty related to going concern" designation, according to the statement. "Management believes there is sufficient cash on hand to sustain basic operations beyond January 2027."
The company's shares jumped 35% in recent Friday trading.
Price: 11.28, Change: +2.90, Percent Change: +34.59
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