NetworkNewsBreaks – QSAM Biosciences Inc. (QSAM)
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Posted On: 01/10/2023 3:33:30 PM
NetworkNewsBreaks – QSAM Biosciences Inc. (QSAM) Releases Shareholder Letter Outlining 2022 Updates, 2023 Milestone Goals
QSAM Biosciences (OTCQB: QSAM), a company developing next-generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP, or CycloSam(R), for the treatment of bone cancer and related diseases, has provided key updates and milestone goals in a shareholder letter; the letter is from QSAM Biosciences executive chair and cofounder C. Richard Piazza and CEO and cofounder Douglas Baum. The letter noted that QSAM is developing its lead therapeutic radiopharmaceutical drug candidate, CycloSam, to treat cancer that has either originated in the bone or has metastasized to the bone from the breast, prostate, lung or other organs. During 2022, CycloSam received rare pediatric disease designation for the treatment osteosarcoma. The company also reported dosing the initial two patients in its phase 1 clinical trial, establishing two clinical trial sites and completing an estimated $1.5 million in common stock and warrant funding.
The letter outlined goals for 2023 to complete the phase 1 study, secure capital through an underwritten offering and a concurrent NASDAQ uplisting. “In reaching these goals, shareholders should expect to see progress through several nearer-term milestones, such as: securing additional trial sites and starting enrollment of patients at those sites; completing patient cohorts (groupings) in our phase 1 trial, which will lead to escalating doses in subsequent cohorts; establishing a more robust supply chain through the qualification of additional nuclear reactors and other key vendors; and other important achievements,” said the QSAM executives in the shareholder letter. “We are looking forward to progress in 2023, which we expect will create fundamental value for our shareholders. While we cannot predict the tide of external market forces, we are confident in our team, our technology, and our ability to advance CycloSam through the FDA process. Ultimately, however, our primary mission is to help the hundreds of thousands of adults and children each year suffering from bone cancer.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
QSAM Biosciences (OTCQB: QSAM), a company developing next-generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP, or CycloSam(R), for the treatment of bone cancer and related diseases, has provided key updates and milestone goals in a shareholder letter; the letter is from QSAM Biosciences executive chair and cofounder C. Richard Piazza and CEO and cofounder Douglas Baum. The letter noted that QSAM is developing its lead therapeutic radiopharmaceutical drug candidate, CycloSam, to treat cancer that has either originated in the bone or has metastasized to the bone from the breast, prostate, lung or other organs. During 2022, CycloSam received rare pediatric disease designation for the treatment osteosarcoma. The company also reported dosing the initial two patients in its phase 1 clinical trial, establishing two clinical trial sites and completing an estimated $1.5 million in common stock and warrant funding.
The letter outlined goals for 2023 to complete the phase 1 study, secure capital through an underwritten offering and a concurrent NASDAQ uplisting. “In reaching these goals, shareholders should expect to see progress through several nearer-term milestones, such as: securing additional trial sites and starting enrollment of patients at those sites; completing patient cohorts (groupings) in our phase 1 trial, which will lead to escalating doses in subsequent cohorts; establishing a more robust supply chain through the qualification of additional nuclear reactors and other key vendors; and other important achievements,” said the QSAM executives in the shareholder letter. “We are looking forward to progress in 2023, which we expect will create fundamental value for our shareholders. While we cannot predict the tide of external market forces, we are confident in our team, our technology, and our ability to advance CycloSam through the FDA process. Ultimately, however, our primary mission is to help the hundreds of thousands of adults and children each year suffering from bone cancer.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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