Q BioMed says all convertible notes and loans now settled

Q BioMed Inc (OTCQB: QBIO), a biotechnology acceleration company, said all its convertible notes and loans have been settled in full.

The company ended its 2017 financial year with no outstanding loans or convertible debt, it added.

“We are very pleased to end the fiscal year with a strong balance sheet and with a solid capital and financial structure from which to continue to build our business,” said Denis Corin, chief executive.

Last month,  the company’s shares rose as it welcomed an autism language expert to its  advisory committee for its candidate for non-verbal disorder in toddlers.

Dr Helen Tager-Flusberg has provided the protocol for capturing the primary endpoint of the planned trial for QBM-001.

Around 20,000 new cases of the disorder  are diagnosed in the USA each year and a similar amount in Europe.

The condition is one that affects very young (1 to 2yrs of age) children who are on the autistic spectrum.

The result is known as a ‘non-verbal disorder’ and is accompanied with developmental delay, where the toddlers either never learn to speak or lose the ability to speak.

Q Biomed Inc shares eased 1.27% to US$4.65 on the day.

Story by ProactiveInvestors