InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – QSAM Biosciences Inc. (QSAM) Releases Shareholder Letter Outlining 2022 Updates, 2023 Milestone Goals
January 10, 2023

InvestorNewsBreaks – 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.”

To view the full letter, visit https://ibn.fm/Ij7dL

About QSAM Biosciences Inc.

QSAM Biosciences is developing next-generation nuclear medicines for the treatment of cancer and related diseases. QSAM’s initial technology, CycloSam (Samarium-153 DOTMP), is a clinical-stage, bone-targeting radiopharmaceutical developed by IsoTherapeutics Group LLC, pioneers in the nuclear medicine space that also developed the FDA-approved Quadramet(R) (Samarium-153 EDTMP) radiopharmaceutical product, which is indicated for pain palliation. QSAM is led by an experienced executive team and board of directors that have completed numerous FDA approvals and multiple successful biotech exits. CycloSam has demonstrated preliminary safety and efficacy in animal studies and a single patient FDA-cleared human trial performed in 2020 at the Cleveland Clinic. This nuclear technology uses low specific activity Samarium-153 (resulting in far less undesirable europium impurity) and DOTMP, a chelator that targets sites of high mineral turnover (bone) and is believed to reduce or eliminate off-target migration, making it, in management’s opinion, an ideal agent to treat primary and secondary bone cancers. Since CycloSam delivers targeted radiation selectively to the skeletal system, it is also believed to be an important candidate for use in bone marrow ablation as preconditioning for bone marrow transplantation as well as in procedures to reduce external beam radiation to bone tumors. This multi-patented drug candidate utilizes a radioisotope previously approved by the FDA, combined with a novel targeting chelant that has demonstrated preliminary increased efficacy and decreased side effects in animal models and veterinary treatment of bone cancer in dogs. Further, CycloSam utilizes a streamlined, just-in-time manufacturing process that is well established. For more information about the company, please visit www.QSAMBio.com

NOTE TO INVESTORS: The latest news and updates relating to QSAM are available in the company’s newsroom at http://ibn.fm/QSAM

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).