ADXN vs QNTM

ADXN Core

Annual filing released 2025-05-15 · GPT 6 Luna

Overview We are a clinical-stage pharmaceutical company focused on the development of a portfolio of novel orally available small molecule drug candidates. Our business comprises of a pipeline of proprietary clinical and preclinical stage drug candidates that are being developed by our partners and internally. We or our partners are developing these clinical and preclinical stage proprietary drug candidates for diseases for which there are no approved therapies or where improved therapies are needed including post-stroke sensorimotor recovery, traumatic brain injury, or TBI, recovery, substance use disorder, or, SUD, and cough.

F-10 Table of Contents Notes to the Consolidated Financial Statements (Amounts in Swiss francs) 1. General information Addex Therapeutics Ltd (the “Company”) and its subsidiaries (together, the “Group”) are a clinical stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders. The Company is a Swiss stockholding corporation domiciled c/o Addex Pharma SA, Chemin des Aulx 12, CH 1228 Plan-les-Ouates, Geneva, Switzerland and the parent company of Addex Pharma SA, Addex Pharmaceuticals France SAS and Addex Pharmaceuticals Inc. Addex Therapeutics also owns a 20% equity interest in Neurosterix US Holdings LLC, USA.

QNTM Core

Annual filing released 2025-03-28 · GPT 6 Luna

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates (“Product Candidates”) in different stages of development. Through Lucid, the Company is currently focused on the R&D of its lead compound, Lucid-MS (formerly Lucid-21-302). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models.

Quantum BioPharma Ltd. (formerly, FSD Pharma Inc.) (“Quantum” or the “Company”) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly-owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), Quantum is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) ("Lucid-MS"). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum is also focused on the research and development of a treatment for alcohol misuse for application in hospitals and other medical practices.

ADXN Core

Annual filing released 2025-05-15 · GPT 6 Luna

Overview We are a clinical-stage pharmaceutical company focused on the development of a portfolio of novel orally available small molecule drug candidates. Our business comprises of a pipeline of proprietary clinical and preclinical stage drug candidates that are being developed by our partners and internally. We or our partners are developing these clinical and preclinical stage proprietary drug candidates for diseases for which there are no approved therapies or where improved therapies are needed including post-stroke sensorimotor recovery, traumatic brain injury, or TBI, recovery, substance use disorder, or, SUD, and cough.

The agreement also includes a research collaboration under which the Sinntaxis team will complete evaluation of dipraglurant for the treatment of brain injury recovery. Our second development compound, ADX71149 is a novel orally active metabotropic glutamate receptor subtype 2 positive allosteric modulator, or mGlu2 PAM. On July 22, 2024, we announced that our Partner Janssen terminated the development of drug candidate ADX71149, because the Phase 2 study did not achieve statistical significance for the primary endpoint. On April 17, 2025, we announced that our partner Janssen terminated our partnership agreement and returned to us the program including all related intellectual property to the Group. We are currently evaluating the future development of ADX71149. Our third development compound is GABAB PAM for chronic cough.

QNTM Core

Annual filing released 2025-03-28 · GPT 6 Luna

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates (“Product Candidates”) in different stages of development. Through Lucid, the Company is currently focused on the R&D of its lead compound, Lucid-MS (formerly Lucid-21-302). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models.

On December 10, 2024, the Company’s safety review committee recommended commencing dosing of the second cohort in its trial entitled “A Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants.” The safety review committee made this recommendation after reviewing safety and pharmacokinetic data from participants in the first cohort. Phase 2 Clinical Study Based on the positive results that the Phase-1 study yielded, the Board, on recommendation from the advisory committee, resolved to proceed with completing a Phase 2 MS-Study on Lucid-MS with the goal of getting the Lucid-MS to commercialization. The Company has determined that in order to get to commercialization it will cost approximately US$31,489,964.

ADXN Core

Annual filing released 2025-05-15 · GPT 6 Luna

Overview We are a clinical-stage pharmaceutical company focused on the development of a portfolio of novel orally available small molecule drug candidates. Our business comprises of a pipeline of proprietary clinical and preclinical stage drug candidates that are being developed by our partners and internally. We or our partners are developing these clinical and preclinical stage proprietary drug candidates for diseases for which there are no approved therapies or where improved therapies are needed including post-stroke sensorimotor recovery, traumatic brain injury, or TBI, recovery, substance use disorder, or, SUD, and cough.

The Group operates in one segment, which is the discovery, development and commercialization of small-molecule pharmaceutical products. A single management team that reports to the Chief Executive Officer comprehensively manages the entire business. The chief operating decision-maker is the Chief Executive Officer who reviews the statement of operations of the Group on a consolidated basis, makes decisions and manages the operations of the Group as a single operating segment. The Group’s activities are not affected by any significant seasonal effect. Revenue is attributable to the Company’s country of domicile, Switzerland. 2.5 Foreign currency transactions

QNTM Core

Annual filing released 2025-03-28 · GPT 6 Luna

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders and alcohol misuse disorders with drug candidates (“Product Candidates”) in different stages of development. Through Lucid, the Company is currently focused on the R&D of its lead compound, Lucid-MS (formerly Lucid-21-302). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models.

On December 10, 2024, the Company’s safety review committee recommended commencing dosing of the second cohort in its trial entitled “A Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants.” The safety review committee made this recommendation after reviewing safety and pharmacokinetic data from participants in the first cohort. Phase 2 Clinical Study Based on the positive results that the Phase-1 study yielded, the Board, on recommendation from the advisory committee, resolved to proceed with completing a Phase 2 MS-Study on Lucid-MS with the goal of getting the Lucid-MS to commercialization. The Company has determined that in order to get to commercialization it will cost approximately US$31,489,964.

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

FSD Strategic Investments has historically not incurred any significant operating expenditure. The loans are arranged through a third-party financing intermediary, and the borrower is responsible for covering all administrative-related costs. FSD Strategic Investments earns interest through fixed-rate lending arrangements that have an average term to maturity of one year from the date of issuance. The loans are secured by residential property with a first or second collateral mortgage on the secured property.

The Company’s Strategic Investments segment is focused on generating returns and cash flow through the issuance of loans secured by residential property, with FSD Strategic Investments having a first or second collateral mortgage on the secured property. The following tables summarize the Company's total current and non-current assets and current and non-current liabilities as of December 31, 2024, and 2023, on a segmented basis: As at December 31, 2024 Biopharmaceutical Strategic Investments Total $ $ $ Current assets 8,620,407 3,432,340 12,052,747 Non-current assets 5,066,477 — 5,066,477 Current liabilities 6,678,992 — 6,678,992 Non-current liabilities — — — F-35

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

unbuzzd™ is a consumer recreational beverage product that will be sold via retail distribution. The Company entered into the Celly Nu IP License Agreement, which provides Celly Nu and Celly U.S. access to proprietary information for the purposes of consumer product development and marketing in connection with unbuzzd™. For more information, see “Item 4. Information on the Company – B. Business Overview – Significant Operations and Principal Activities in Fiscal 2022 and Fiscal 2023 – July 31, 2023”.

Celly Nu is focused on the commercialization of unbuzzd™. The Company, on the one hand, and Celly Nu and Celly U.S., on the other hand, are parties to the Celly Nu IP License Agreement dated as of August 14, 2024 which gives Celly Nu and Celly U.S. exclusive global rights to use the Company’s alcohol misuse technology for recreational purposes. For more information, please see “Item 4. Information on the Company – A. History and Development of the Company – Alcohol Misuse Disorder Product Candidates”. FSD Strategic Investments FSD Strategic Investments was incorporated in Ontario on May 13, 2022. FSD Strategic Investments is focused on generating returns and cash flow through the issuance of loans secured by residential real estate property. For more information, please see “Item 4. Information on the Company. – B. Business Overview – (2) FSD Strategic Investments”. FSD Australia

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

FSD Strategic Investments has historically not incurred any significant operating expenditure. The loans are arranged through a third-party financing intermediary, and the borrower is responsible for covering all administrative-related costs. FSD Strategic Investments earns interest through fixed-rate lending arrangements that have an average term to maturity of one year from the date of issuance. The loans are secured by residential property with a first or second collateral mortgage on the secured property.

The Company’s Strategic Investments segment is focused on generating returns and cash flow through the issuance of loans secured by residential property, with FSD Strategic Investments having a first or second collateral mortgage on the secured property. The following tables summarize the Company's total current and non-current assets and current and non-current liabilities as of December 31, 2024, and 2023, on a segmented basis: As at December 31, 2024 Biopharmaceutical Strategic Investments Total $ $ $ Current assets 8,620,407 3,432,340 12,052,747 Non-current assets 5,066,477 — 5,066,477 Current liabilities 6,678,992 — 6,678,992 Non-current liabilities — — — F-35

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

unbuzzd™ is a consumer recreational beverage product that will be sold via retail distribution. The Company entered into the Celly Nu IP License Agreement, which provides Celly Nu and Celly U.S. access to proprietary information for the purposes of consumer product development and marketing in connection with unbuzzd™. For more information, see “Item 4. Information on the Company – B. Business Overview – Significant Operations and Principal Activities in Fiscal 2022 and Fiscal 2023 – July 31, 2023”.

On October 7, 2024, Celly U.S. signed a master distribution agreement with FUSION Distribution Group (“FUSION”) for distribution of unbuzzd™ across Puerto Rico, the Caribbean, and parts of Central and South America. unbuzzd™ was made available as ready-to-mix powder sticks on Amazon on August 30, 2024, with ready-to-drink 12oz cans planned for future release. FUSION, which distributed brands such as CELSIUS, SHINE Water, Tona Cerveza, and Kin Whiskey, was selected to handle the distribution of both ready-to-mix powder sticks and ready-to-drink 12oz cans. As of the date of this Annual Report, the planned future release of the ready-to-drink 12oz cans have been put on hold. The Corporation’s continued operations are not dependent on the development of unbuzzd™ for recreational use by Celly Nu and Celly U.S. pursuant to the Celly Nu IP License Agreement.

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

On June 4, 2024, the Company received IRB approval for its METAL-2 TRIAL in the United States. On February 4, 2025, the Company announced that it completed a double-blind, randomized, placebo-controlled crossover design clinical trial (NCT06505239) of its dietary supplement product unbuzzd™, investigating its effects on alcohol intoxication and alcohol metabolism. Results of data analysis show definitively that unbuzzd™ accelerated the rate at which blood alcohol concentration was reduced in study subjects, while simultaneously reducing the symptoms of intoxication and hangover. All these results were statistically significant compared to placebo. The study included 26 participants, both male and female, aged between 21 and 43, with weights ranging from 119 to 232 pounds.

On October 7, 2024, Celly U.S. signed a master distribution agreement with FUSION Distribution Group (“FUSION”) for distribution of unbuzzd™ across Puerto Rico, the Caribbean, and parts of Central and South America. unbuzzd™ was made available as ready-to-mix powder sticks on Amazon on August 30, 2024, with ready-to-drink 12oz cans planned for future release. FUSION, which distributed brands such as CELSIUS, SHINE Water, Tona Cerveza, and Kin Whiskey, was selected to handle the distribution of both ready-to-mix powder sticks and ready-to-drink 12oz cans. As of the date of this Annual Report, the planned future release of the ready-to-drink 12oz cans have been put on hold. The Corporation’s continued operations are not dependent on the development of unbuzzd™ for recreational use by Celly Nu and Celly U.S. pursuant to the Celly Nu IP License Agreement.

ADXN Not tagged

Annual filing released 2025-05-15 · GPT 6 Luna

This activity has no positive tag in the selected filing snapshot.

QNTM Material

Annual filing released 2025-03-28 · GPT 6 Luna

Zapolin ceases to be a participant under the Equity Incentive Plan for any reason, the expiry date of the Zapolin Options shall be 90 days following the date Mr. Zapolin ceases to be a participant under the Equity Incentive Plan. March 20, 2025: The Company increased its cryptocurrency holdings with the purchase of an additional US$1,500,000 worth of Bitcoin and other cryptocurrencies. For more information, please see “Item 4B. Business Overview – Overview of the Company – Business Segments – (3) Bitcoin and Cryptocurrency Investments”. March 26, 2025: Celly U.S. released unbuzzd™ “On-the-Go Powder Stick Packs” in an 8-pack display box, facilitating the sale of unbuzzd™ in convenience, liquor, and drug stores across the United States. The 8-pack display box is available for direct sale to consumers on both amazon.com and unbuzzd.com.

unbuzzd™ is a consumer recreational beverage product that will be sold via retail distribution. The Company entered into the Celly Nu IP License Agreement, which provides Celly Nu and Celly U.S. access to proprietary information for the purposes of consumer product development and marketing in connection with unbuzzd™. For more information, see “Item 4. Information on the Company – B. Business Overview – Significant Operations and Principal Activities in Fiscal 2022 and Fiscal 2023 – July 31, 2023”.