Qualigen Therapeutics Inc Financials

QLGN

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Qualigen Therapeutics Inc (QLGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$6.3M

YoY+53.3%

Qualigen Therapeutics Inc reported -$6.3M in net income in fiscal year 2024. This represents an increase of 53.3% from the prior year.

EPS (Diluted)

$-17.55

YoY+86.7%

Qualigen Therapeutics Inc earned $-17.55 per diluted share (EPS) in fiscal year 2024. This represents an increase of 86.7% from the prior year.

Cash & Debt

$1.2M

YoY+192.3%

5Y CAGR+50.3%

10Y CAGR-8.1%

Qualigen Therapeutics Inc held $1.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

736,431

YoY+586.7%

5Y CAGR-56.2%

10Y CAGR+4.7%

Qualigen Therapeutics Inc had 736,431 shares outstanding in fiscal year 2024. This represents an increase of 586.7% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$1.2M

YoY-77.0%

5Y CAGR-27.9%

10Y CAGR+26.5%

Qualigen Therapeutics Inc invested $1.2M in research and development in fiscal year 2024. This represents a decrease of 77.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

QLGN Income Statement

Metric	FY24	FY24	FY22	FY22	FY21	FY20
Revenue	N/A	N/A	$5.0M-11.9%	$5.7M+31.3%	$4.3M-22.5%	$5.6M
Cost of Revenue	N/A	N/A	N/A	$113K	N/A	N/A
Gross Profit	N/A	N/A	N/A	$689K+9.5%	$630K	N/A
R&D Expenses	$1.2M-77.0%	$5.2M+16.1%	$4.5M-61.7%	$11.7M	N/A	$6.1M
SG&A Expenses	$4.2M-31.0%	$6.1M-40.7%	$10.3M-12.4%	$11.7M	N/A	$4.6M
Operating Income	-$5.8M+49.0%	-$11.3M+23.4%	-$14.8M+34.9%	-$22.7M	N/A	-$10.8M
Interest Expense	$909K-40.4%	$1.5M+4532.7%	-$34K-180.6%	$43K	N/A	$283K
Income Tax	$6K+232.2%	-$5K-173.2%	$7K+20.7%	$5K	N/A	$4K
Net Income	-$6.3M+53.3%	-$13.4M+28.0%	-$18.6M-4.2%	-$17.9M+12.4%	-$20.4M-101.5%	-$10.1M
EPS (Diluted)	$-17.55+86.7%	$-132.25-3553.3%	$-3.62	N/A	N/A	N/A

Metric	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q4'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$106K+492.6%	$18K-46.3%	$33K	N/A	$123K-83.6%	$754K+107.0%	$364K	N/A
SG&A Expenses	$1.9M+35.6%	$1.4M-44.1%	$2.5M	N/A	$1.1M+16.1%	$986K-6.7%	$1.1M	N/A
Operating Income	-$1.4M+15.1%	-$1.7M+38.2%	-$2.7M	N/A	-$1.3M+27.1%	-$1.7M-22.4%	-$1.4M	N/A
Interest Expense	$342K+222.7%	$106K+43.3%	$74K	N/A	$408K+54.9%	$264K+93.0%	$137K	N/A
Income Tax	N/A	N/A	$35	N/A	-$2K-81.4%	-$1K-167.9%	$2K	N/A
Net Income	-$2.0M-20.9%	-$1.7M+36.3%	-$2.6M	N/A	-$1.8M-13.8%	-$1.6M+22.4%	-$2.0M	N/A
EPS (Diluted)	$-4.68-368.0%	$-1.00+45.1%	$-1.82	N/A	$-4.70+54.7%	$-10.37+41.1%	$-17.60	N/A

QLGN Balance Sheet

Metric	FY24	FY24	FY22	FY22	FY21	FY20
Total Assets	$4.7M+130.5%	$2.0M-89.3%	$19.1M-16.4%	$22.8M-21.6%	$29.1M+683.0%	$3.7M
Current Assets	$4.7M+301.5%	$1.2M-89.2%	$10.8M-48.0%	$20.8M-26.3%	$28.2M+1643.4%	$1.6M
Cash & Equivalents	$1.2M+192.3%	$402K-87.3%	$3.2M-81.9%	$17.5M-26.9%	$24.0M+15558.6%	$153K
Inventory	N/A	N/A	$1.6M+50.2%	$1.1M+10.7%	$953K+44.4%	$660K
Accounts Receivable	N/A	$539K0.0%	$539K-34.5%	$822K+33.6%	$616K+47.6%	$417K
Goodwill	N/A	N/A	$626K	N/A	N/A	N/A
Total Liabilities	$2.0M-51.5%	$4.1M-59.9%	$10.3M+64.5%	$6.3M-42.1%	$10.8M+91.8%	$5.6M
Current Liabilities	$2.0M-51.5%	$4.1M-51.9%	$8.6M+85.7%	$4.6M-55.6%	$10.4M+95.3%	$5.3M
Long-Term Debt	N/A	N/A	N/A	N/A	$139K-93.7%	$2.2M
Total Equity	$2.7M+227.4%	-$2.1M-124.0%	$8.8M-47.1%	$16.6M-9.5%	$18.3M+1049.0%	-$1.9M
Retained Earnings	-$123.1M-5.4%	-$116.8M-13.0%	-$103.4M-22.0%	-$84.7M-26.8%	-$66.8M-41.3%	-$47.3M

Metric	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q4'24
Total Assets	$43.5M+997.0%	$4.0M+39.2%	$2.8M-39.2%	$4.7M+102.6%	$2.3M+332.8%	$534K-46.7%	$1.0M-50.7%	$2.0M
Current Assets	$43.5M+997.5%	$4.0M+39.2%	$2.8M-39.3%	$4.7M+102.5%	$2.3M+332.8%	$534K-46.7%	$1.0M-14.0%	$1.2M
Cash & Equivalents	$38.8M+11593.9%	$332K+997.7%	$30K-97.4%	$1.2M+202.6%	$388K+227.0%	$119K+27.3%	$93K-76.8%	$402K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$539K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.9M-12.3%	$5.6M+99.5%	$2.8M+40.2%	$2.0M-54.9%	$4.5M-7.4%	$4.8M+6.4%	$4.5M+9.4%	$4.1M
Current Liabilities	$4.9M-12.3%	$5.6M+99.5%	$2.8M+40.2%	$2.0M-54.9%	$4.5M-7.4%	$4.8M+6.4%	$4.5M+9.4%	$4.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$38.5M+2433.0%	-$1.7M-5086.7%	$33K-98.8%	$2.7M+225.1%	-$2.1M+50.0%	-$4.3M-21.5%	-$3.5M-67.4%	-$2.1M
Retained Earnings	-$129.4M-1.6%	-$127.4M-1.3%	-$125.7M-2.2%	-$123.1M-0.7%	-$122.2M-1.5%	-$120.4M-1.3%	-$118.8M-1.7%	-$116.8M

QLGN Cash Flow Statement

Metric	FY24	FY24	FY22	FY22	FY21	FY20
Operating Cash Flow	-$6.3M+38.6%	-$10.3M+22.2%	-$13.2M+10.1%	-$14.7M	N/A	-$14.5M
Capital Expenditures	N/A	N/A	$165K+22.5%	$134K	N/A	$2K
Free Cash Flow	N/A	N/A	-$13.4M+9.8%	-$14.9M	N/A	-$14.5M
Investing Cash Flow	-$1.9M-145.2%	$4.2M+2394.2%	-$184K-30.0%	-$141K	N/A	$7.0M
Financing Cash Flow	$9.0M+1737.8%	-$550K-118.9%	$2.9M-65.5%	$8.4M	N/A	$1.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q4'24
Operating Cash Flow	N/A	N/A	-$1.6M	N/A	N/A	N/A	-$784K	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	-$305K	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	$750K	N/A	N/A	N/A	$475K	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

QLGN Financial Ratios

Metric	FY24	FY24	FY22	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	12.2%-2.4pp	14.6%	N/A
Operating Margin	N/A	N/A	-296.2%+104.7pp	-400.8%	N/A	-195.1%
Net Margin	N/A	N/A	-374.0%-57.5pp	-316.6%+157.7pp	-474.2%-291.9pp	-182.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-133.6%+526.3pp	-659.9%-562.2pp	-97.7%-19.3pp	-78.4%-8.3pp	-70.1%+202.3pp	-272.4%
Current Ratio	2.33+2.1	0.28-1.0	1.26-3.2	4.49+1.8	2.71+2.4	0.30
Debt-to-Equity	0.75+2.7	-1.97-3.1	1.18+0.8	0.38+0.4	0.01+1.2	-1.15
FCF Margin	N/A	N/A	-269.1%-6.2pp	-262.9%	N/A	-261.2%

Metric	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q3'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-4.7%+37.8pp	-42.5%+50.4pp	-92.9%	N/A	-77.6%+217.5pp	-295.0%-92.4pp	-202.6%	N/A
Current Ratio	8.83+8.1	0.71-0.3	1.01-1.3	2.33+1.8	0.52+0.4	0.11-0.1	0.22-0.1	0.28
Debt-to-Equity	0.13+3.5	-3.40-88.3	84.94+84.2	0.75+2.8	-2.08-1.0	-1.12+0.2	-1.28+0.7	-1.97
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Financial Health Signals

Piotroski F-Score Weak

2/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Low Quality

1.01x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage At Risk

-6.3x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

Is Qualigen Therapeutics Inc profitable?

No, Qualigen Therapeutics Inc (QLGN) reported a net income of -$6.3M in fiscal year 2024.

What is Qualigen Therapeutics Inc's earnings per share (EPS)?

Qualigen Therapeutics Inc (QLGN) reported diluted earnings per share of $-17.55 for fiscal year 2024. This represents a 86.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Qualigen Therapeutics Inc's operating cash flow?

Qualigen Therapeutics Inc (QLGN) generated -$6.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Qualigen Therapeutics Inc's total assets?

Qualigen Therapeutics Inc (QLGN) had $4.7M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Qualigen Therapeutics Inc spend on research and development?

Qualigen Therapeutics Inc (QLGN) invested $1.2M in research and development during fiscal year 2024.

How many shares does Qualigen Therapeutics Inc have outstanding?

Qualigen Therapeutics Inc (QLGN) had 736,431 shares outstanding as of fiscal year 2024.

What is Qualigen Therapeutics Inc's current ratio?

Qualigen Therapeutics Inc (QLGN) had a current ratio of 2.33 as of fiscal year 2024, which is generally considered healthy.

What is Qualigen Therapeutics Inc's debt-to-equity ratio?

Qualigen Therapeutics Inc (QLGN) had a debt-to-equity ratio of 0.75 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Qualigen Therapeutics Inc's return on assets (ROA)?

Qualigen Therapeutics Inc (QLGN) had a return on assets of -133.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Qualigen Therapeutics Inc's cash runway?

Based on fiscal year 2024 data, Qualigen Therapeutics Inc (QLGN) had $1.2M in cash against an annual operating cash burn of $6.3M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Qualigen Therapeutics Inc's Piotroski F-Score?

Qualigen Therapeutics Inc (QLGN) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Qualigen Therapeutics Inc's earnings high quality?

Qualigen Therapeutics Inc (QLGN) has an earnings quality ratio of 1.01x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Qualigen Therapeutics Inc cover its interest payments?

Qualigen Therapeutics Inc (QLGN) has an interest coverage ratio of -6.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.