QNTM is trading at $3.33 (8% down) following news that the FDA has placed a clinical hold on the Investigational New Drug (IND) application for its Lucid-MS Phase 2 trial. The FDA cited a need for additional information before allowing the trial to proceed, leading Quantum BioPharma to withdraw previous timelines for review and trial initiation. This development, announced on May 31, 2026, is contributing to the stock's continued downward pressure, despite earlier positive safety and tolerability results from the Phase 1 study.