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Medical Laboratories Research
MediQuest Therapeutics, Inc., previously known as Medical Laboratories Research Corporation, trades on the OTC Markets Group's OTCQB marketplace under the ticker symbol "NDZ." The company is classified in the Healthcare sector, specifically in the Biotechnology industry.
MediQuest Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of therapies for rare diseases with significant unmet medical needs. Its lead product candidate is MQ-131, a Phase 2 ready proprietary formulation of dichloracetate (DCA), a small molecule compound, for the treatment of genetic neurometabolic disorders with high lactate. MediQuest has received Orphan Drug Designation for MQ-131 from the FDA for the treatment of Pyruvate Dehydrogenase Complex Deficiency (PDCD) and from the European Medicines Agency (EMA) for the treatment of PDCD, Leigh Disease, and MELAS syndrome. PDCD, Leigh Disease, and MELAS syndrome are all orphan neurological diseases characterized by high lactate levels and associated with impaired mitochondrial function.
As a small, development-stage company, MediQuest Therapeutics does not yet have any products generating revenue, and as such, its financials are characterized by significant net losses. The company's most recent financial report was for the full year ended December 31, 2021. In that period, MediQuest reported a net loss of approximately $2.07 million compared to a net loss of $1.49 million in the prior-year period. The company had cash and cash equivalents of $1.18 million as of December 31, 2021, compared to $1.35 million as of December 31, 2020. MediQuest continuously evaluates its ongoing capital requirements and may seek additional financing through public or private debt or equity offerings, collaborations, or other strategic alliances.
Despite the challenges associated with developing therapies for rare diseases, MediQuest Therapeutics has a promising product candidate in MQ-131 and the potential to make a significant positive impact on the lives of patients affected by these devastating conditions. Investors should carefully consider the risks and uncertainties associated with investing in a small, clinical-stage biotech company before making an investment decision.