Here are 1-3 brief analogies for Quantum BioPharma (QNTM):

• QNTM is like an early-stage Amgen or Gilead Sciences, focused on developing new therapies but much smaller and earlier in its pipeline.
• QNTM is like the dedicated 'research & development arm' of a major pharmaceutical company like Pfizer or Merck, but operating as an independent, early-stage entity.
• QNTM is like a 'drug startup' aiming to develop breakthrough medicines, similar to how Moderna was focused on innovative drug platforms before its major successes.

The company "Quantum BioPharma" with the stock symbol QNTM could not be identified as a publicly traded entity on major stock exchanges or financial databases.

Therefore, I am unable to identify its major products or services as requested.

The company symbol QNTM belongs to Quantum Corporation, not Quantum BioPharma. Assuming the inquiry is for Quantum Corporation (NASDAQ: QNTM), here is the information regarding its major customers.

Quantum Corporation primarily sells its data storage, management, and protection solutions to other companies and organizations (B2B) rather than individuals. The company does not publicly disclose specific names of its major customers, as no single customer accounts for 10% or more of its total net revenue, according to its latest financial filings.

However, Quantum Corporation serves a diverse range of customers across various industries that require robust solutions for managing large volumes of unstructured data. These customer categories include:

• Media and Entertainment Companies: Including studios, post-production houses, and broadcasters that need to store and manage vast amounts of video content, raw footage, and archives.
• Government Agencies and Scientific Research Institutions: Organizations involved in surveillance, defense, academic research, genomics, and high-performance computing that generate and analyze massive datasets.
• Enterprises and Cloud Providers: Businesses across various sectors, including financial services and education, as well as cloud service providers, that require scalable storage, data protection, and archiving solutions for their general IT environments.

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Zeeshan Saeed, Chief Executive Officer, Founder & Executive Co-Chairman

Zeeshan Saeed is a co-founder of Quantum BioPharma (formerly FSD Pharma Inc.), established in 1994, and was instrumental in securing initial seed capital and transitioning the company into a publicly traded entity. He also serves as Independent Co-Chairman of Unbuzzd Wellness Inc. as of August 2023.

Donal Carroll, Chief Financial Officer

Donal Carroll was appointed Chief Financial Officer of Quantum BioPharma effective August 30, 2024. He previously held the role of interim CFO in 2018, then permanent CFO from December 2019 to May 2021, and COO from August 2021. Mr. Carroll brings over 20 years of corporate finance leadership and public company experience, including experience in syndicate investing in both equity and debt securities.

Anthony Durkacz, Co-Founder & Executive Co-Chairman

Anthony Durkacz is a co-founder of Quantum BioPharma and has served as a director and Executive Vice-President of First Republic Capital Corporation since 2014. Prior to co-founding the company, he was President of Capital Ideas Investor Relations. Mr. Durkacz also previously served as the Chief Financial Officer and a director of Snipp Interactive Inc., where he was instrumental in its financing and public listing.

Dr. Lakshmi P. Kotra, CEO of Lucid & Director

Dr. Lakshmi P. Kotra joined Quantum BioPharma as CEO of its wholly-owned subsidiary, Lucid, following the acquisition of Lucid Psycheceuticals in September 2021. He is a Senior Scientist at Krembil Brain Institute, University Health Network, and a Professor of Medicinal Chemistry at the University of Toronto. Dr. Kotra holds a Ph.D. in Pharmacy/Medicinal Chemistry from the University of Georgia.

Nathan Coyle, Controller

Nathan Coyle joined Quantum BioPharma Inc. in 2020 as Corporate Controller and later held the role of Interim Chief Financial Officer in 2021. He possesses 15 years of executive business experience as a finance leader in both public and private sector roles. Previously, Mr. Coyle was with Illinois Tool Works (NYSE:ITW), where he played a key role in organizational restructuring, growth shaping, and business streamlining within the industrial packaging segment.

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Quantum BioPharma (QNTM) is expected to drive future revenue growth over the next 2-3 years through several key initiatives, primarily focusing on its product pipeline and strategic market expansion.

1. Advancement and Commercialization of Lucid-MS: A significant driver of future revenue is the progression and eventual commercialization of Lucid-MS, Quantum BioPharma's lead drug candidate for multiple sclerosis. This orally administered compound has shown promise in preclinical models for preventing and reversing myelin degradation, a hallmark of MS. The company is preparing for a Phase 2 trial, and the global MS drug market is projected to grow substantially, potentially exceeding $41 billion by 2033. Quantum BioPharma retains full rights to develop this product for pharmaceutical uses, offering significant revenue potential.
2. Growth and Expansion of the Unbuzzd™ Product Line: The consumer wellness product, Unbuzzd™, which helps accelerate alcohol metabolism and reduce hangover symptoms, is a near-term revenue engine. Launched in late 2024, Unbuzzd™ is already generating organically growing revenue through online sales. Future growth is anticipated from its planned retail expansion, supported by a Reg D financing round by its licensee, Unbuzzd Wellness Inc., and potential market entry into Canada, where Health Canada approval is pending. Building on this platform, the development and commercialization of the REKVRY program, a clinical-grade therapeutic for acute alcohol intoxication, also represents a significant new product opportunity.
3. Launch and Market Penetration of Qlarity: The approval of Qlarity, a natural health product, by Health Canada enables its sale in the Canadian market. This new product launch in a new geographical market is expected to contribute to revenue growth as the company expands its reach and establishes market penetration for Qlarity.
4. Strategic Asset Management: While not directly related to biopharmaceutical product sales, Quantum BioPharma's strategic management of its digital assets, particularly its cryptocurrency portfolio, has generated gains and contributes to the company's financial strength and overall revenue. The company has significantly increased its digital assets and has realized profits from these investments, which management aims to continue leveraging to sustain operations and support its pipeline development.

Share Issuance

• On November 1, 2025, Quantum BioPharma Ltd. initiated an at-the-market (ATM) offering, seeking to raise up to US$21,225,000 through the issuance of Class B Subordinate Voting Shares.

Outbound Investments

• Quantum BioPharma spun out its unbuzzd™ product to Celly Nutrition Corp. (now Unbuzzd Wellness Inc.) and retains a 20.10% ownership stake in Unbuzzd Wellness Inc. as of June 30, 2025.
• The agreement with Unbuzzd Wellness Inc. includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma reach $250 million, after which the royalty rate will decrease to 3% in perpetuity.
• The company maintains a portfolio of strategic investments through its wholly-owned subsidiary, FSD Strategic Investments Inc., which involves loans secured by residential or commercial property.

Capital Expenditures

• The reported value of physical assets on Quantum BioPharma's balance sheet is approximately US$228.2 thousand.
• Research and Development expenses were $6.083 million for the most recent reporting period, following $3.859 million, $6.911 million, and $6.328 million in prior periods.