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QSAM BIOSCIENCES, INC. (OTCQB – QSAM - $0.80)
Price Target: $3.00
QSAM is developing next generation nuclear medicines for the treatment of cancer and related diseases and conditions with high unmet need. The Company’s flagship product, Cyclosam®, is a clinical-stage bone seeking therapeutic radiopharmaceutical designed to safely and specifically deliver targeted radiation therapy to kill cancer cells in and near the bone. In animal studies and a recent single patient human trial, this approach appears to improve efficacy and safety. QSAM plans to commence additional trials during 2021.
Latest News—Funding for Phase I Clinical Trial. QSAM announced it raised $2.5M via the closing of an oversubscribed Series B Convertible Preferred Stock private placement led by Checkmate Capital. The funding also includes warrants to purchase QSAM’s common stock. Proceeds will primarily be used to fund its upcoming clinical trial.
What it Means: With R&D funds in hand, the stock is markedly de-risked and should enjoy future rises given that next stage milestones are around the corner. As an early-stage biotech, each milestone event typically leads to re-valuations and higher stock prices.
What’s Next: During 1Q21, QSAM plans to file an IND for its lead radiologic cancer therapy Cyclosam®, with a Phase I clinical trial to launch shortly thereafter. During 2021, a series of Cyclosam® clinical trial commencements could occur representing indications including primary bone cancer, such as osteosarcoma, and secondary bone cancers that metastasize from the breast, lung, and prostate.
Reiterating our $3.00 Target. We initiated coverage about two weeks ago and the stock is up 33%, aided in part by very favorable study results. With the funding in place for its upcoming trial, favorable studies, and future clinical trials launches on the horizon, we view QSAM’s current price as an attractive entry point for opportunistic investors.
Recent Trading History For QSAM
Senior Analyst: Robert Goldman
Rob Goldman founded Goldman Small Cap Research in 2009 and has over 25 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.
I, Robert Goldman, hereby certify that the view expressed in this research report or article, accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report.
This Opportunity Research report was prepared for informational purposes only.
Goldman Small Cap Research, (a division of Two Triangle Consulting Group, LLC) produces research via two formats: Goldman Select Research and Goldman Opportunity Research. The Select format reflects the Firm’s internally generated stock ideas along with economic and stock market outlooks. Opportunity Research reports, updates and Microcap Hot Topics articles reflect sponsored (paid) research but can also include non-sponsored micro-cap research ideas that typically carry greater risks than those stocks covered in the Select Research category. It is important to note that while we may track performance separately, we utilize many of the same coverage criteria in determining coverage of all stocks in both research formats. Research reports on profiled stocks in the Opportunity Research format typically have a higher risk profile and may offer greater upside. Goldman Small Cap Research was compensated by a third party in the amount of $7500 for research report and research update production and distribution, including a press release. All information contained in this report was provided by the Company via filings, press releases or its website, or through our own due diligence. Our analysts are responsible only to the public, and are paid in advance to eliminate pecuniary interests, retain editorial control, and ensure independence. Analysts are compensated on a per report basis and not on the basis of his/her recommendations.
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