Q BioMed Inc. (OTCQB:QBIO) has seen an uptick in Strontium89 (Strontium Chloride Sr-89 Injection, USP) sales in its fourth quarter.
As a result, the company said it is projecting its 4Q revenue will likely double that in previous quarters.
In addition, the company has received its first order from the VA health care system (US Department of Veterans Affairs) under its federal supply contract. Repeat orders from clinics also indicate adoption and confidence in the product.
READ: Q BioMed hires contract sales force to promote Strontium89 to VA and Military Health System medical centers in US
"The start to our 4th quarter is very encouraging,” said CEO Denis Corin in a statement.
“Repeat orders and the VA coming online is a positive momentum builder. It is very gratifying to know that we are getting our product to patients and making a difference in their lives. While the numbers are not large yet, we are making solid progress and once we are properly funded, I expect the engagement of a contract sales force to be very impactful."
Strontium89, approved by the US Food and Drug Administration (FDA), is a non-opioid radiopharmaceutical indicated for the treatment of painful skeletal metastases caused by cancer and is agnostic of the primary tumor. Common primary tumors that metastasize to the bone include prostate, breast, and lung, as well as others.
Veterans are at higher risk for prostate, breast, and lung cancer, the three most common cancers treated with Strontium89 if they become painfully metastatic to the bone. In fact, prostate cancer rates in the military are twice those in the general population, and military personnel were found to be nearly 40% more likely to develop breast cancer.
In the Strontium89 pivotal trial, as many as 79% of patients had pain relief with Strontium89, and twice as many patients treated with Strontium89 had no pain for three months compared with placebo. Further, new pain sites were less frequent in patients treated with Strontium89.
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