Biotech accelerator firm Q BioMed Inc (OTCMKTS:QBIO) has submitted a regulatory filing to the US Food and Drug Administration for the approval of a new manufacturing facility.
Assuming regulators give the green light, the facility will manufacture Q BioMed’s Strontium Chloride Sr89 injection.
READ: Q BioMed to present at 30th annual Roth Conference
Out of the four candidates Q Biomed has, SR89 – which treats cancer bone pain – is the ‘revenue ready’ one. Overall, the pain palliation market is estimated to be worth around US$300 million annually.
Shares rose 3% to US$3.07 on Friday morning.