Quantum BioPharma Exposes Alleged Stock Spoofing in *W5* Investigation
Quantum BioPharma Ltd. has announced a three-part investigative series on CTV News’ W5 programme. The series examines claims of stock market manipulation targeting the company, including allegations of illegal 'stock spoofing'. CEO Zeeshan Saeed has responded to the findings, reaffirming the firm’s commitment to advancing its lead drug, Lucid-MS.
The company is also pursuing a USD $700 million lawsuit against major banks CIBC and RBC, though no updates on the case have been reported since November 2025.
The W5 investigation focuses on alleged manipulation of Quantum BioPharma’s stock through 'spoofing', a tactic where traders place fake orders to distort market prices. The company has long claimed that such practices have harmed its share value and investor confidence. Alongside the exposé, Quantum BioPharma is pushing forward with a high-stakes legal battle against CIBC and RBC, accusing them of facilitating or ignoring the manipulation in the stock market today.
Lucid-MS remains the company’s flagship project. Preclinical studies suggest the drug can halt and even reverse nerve damage in multiple sclerosis, though human trials are still pending. CEO Zeeshan Saeed emphasised the importance of bringing Lucid-MS to the world market, calling it a potential breakthrough for patients with limited treatment options.
Beyond its pharmaceutical work, Quantum BioPharma holds a 19.86% stake in Unbuzzd Wellness Inc., the maker of the over-the-counter product unbuzzd™. Under the agreement, Quantum receives a 7% royalty on sales until revenues reach $250 million. The company also manages a portfolio of strategic investments through its subsidiary, FSD Strategic Investments Inc.
In its latest statements, Quantum BioPharma acknowledged risks tied to ongoing litigation, market conditions, and reliance on key staff. The press release cautioned that future performance depends on unresolved legal outcomes and broader financial factors.
The W5 series puts a spotlight on Quantum BioPharma’s legal and market challenges, while the company continues its push for Lucid-MS approval. As of late 2025, the lawsuit against CIBC and RBC remains stalled with no public updates. Meanwhile, the firm’s financial ties to Unbuzzd Wellness and its investment arm provide additional revenue streams as it navigates regulatory and legal hurdles in the stock market.
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