Welcome to our dedicated page for Qualigen Therapeutics news (Ticker: QLGN), a resource for investors and traders seeking the latest updates and insights on Qualigen Therapeutics stock.
Qualigen Therapeutics Inc (QLGN) is an early clinical-stage biopharmaceutical company advancing novel cancer treatments through its investigational G-quadruplex-targeting therapies. This hub provides timely updates on corporate developments, clinical research milestones, and regulatory progress for investors and researchers.
Access press releases covering QN-302 clinical trials, preclinical program updates, financial disclosures, and strategic partnerships. Our curated news collection helps stakeholders track the company’s progress in developing precision oncology treatments while maintaining compliance with financial reporting standards.
Key updates include therapeutic pipeline advancements, peer-reviewed research publications, and material business events. All content is verified through primary sources to ensure accuracy and relevance for investment analysis and scientific evaluation.
Bookmark this page for consolidated access to Qualigen Therapeutics’ latest developments in cancer drug discovery and corporate announcements. Check regularly for authoritative updates on their innovative approach to targeting transcription mechanisms in malignant cells.
Qualigen Therapeutics (NASDAQ: QLGN) has entered a non-binding Memorandum of Understanding (MOU) to acquire Marizyme (OTC: MRZM), following their 2024 co-marketing agreement. The acquisition targets the $10 billion Coronary Artery Bypass Graft (CABG) market through Marizyme's FDA-cleared DuraGraft technology.
DuraGraft addresses a critical need in CABG surgeries, where saphenous vein graft failure rates reach 20-40% within the first year and approximately 50% within 5-10 years. The technology aims to prevent oxidative damage and slow vein graft failure progression, potentially reducing repeat procedures and hospital stays.
The deal, subject to due diligence, final terms, and shareholder approval, is expected to generate revenue by the end of fiscal 2025, with commercialization strategy development planned for the third quarter.
Qualigen Therapeutics (NASDAQ: QLGN) has announced its participation as the lead investor in NanoSynex's 2025 bridge funding round, which aims to raise up to $500,000. NanoSynex is developing advanced Antimicrobial Susceptibility Testing (AST) technology that promises to cut testing time in half while providing more robust diagnostics.
The technology aims to optimize antibiotic usage globally through improved testing methods. NanoSynex's Minimum Viable Product (MVP) System offers competitive advantages over existing solutions, both in performance and pricing. The company is targeting EU market approval in 2027 and US approval in 2028.
The global AST market is projected to reach $4.7 billion by 2027, with the US market expected to account for $1.6 billion. NanoSynex has secured four patents for their technology and maintains a strong pipeline for additional applications and verticals.
Qualigen Therapeutics (NASDAQ: QLGN) has announced its regained compliance with two important Nasdaq listing requirements: the minimum bid price requirement and the stockholders' equity requirement. The Nasdaq Hearing Panel will monitor the company's compliance through two mechanisms: a Discretionary Panel Monitor and a Mandatory Panel Monitor, both effective for one year starting December 2, 2024. These monitoring measures are implemented to ensure Qualigen maintains long-term compliance with Nasdaq's continued listing requirements.
Qualigen Therapeutics (NASDAQ:QLGN) has secured a $4.5 million private placement through the sale of Series A-2 Preferred Shares to institutional and accredited investors. The company sold 4,500 preferred shares at $1,000 per share, which are convertible into 1,236,263 common shares at a conversion price of $3.64 per share. Univest, serves as the exclusive placement agent, with the offering expected to close around November 19, 2024. The company will file a registration statement with the SEC for the resale of underlying common shares within fourteen days of closing.
Qualigen Therapeutics (NASDAQ: QLGN) announced a 1-for-50 reverse stock split effective November 5, 2024. The split aims to increase the bid price to regain compliance with Nasdaq's minimum bid price requirement. The company's shares will continue trading under 'QLGN' with a new CUSIP number 74754R 301. The split will reduce outstanding shares from approximately 36.7 million to 737 thousand. Stockholders will receive cash for fractional shares, and proportionate adjustments will be made to equity plans and grants.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced significant management changes on September 26, 2024. Michael Poirier resigned as CEO and Chairman of the Board, while Christopher Lotz stepped down as CFO, both effective immediately. Their resignations were due to disagreements over the company's future direction and strategic initiatives.
The Board appointed Campbell Becher as President on September 25, and Kevin Richardson as Interim CEO and CFO, as well as a board member, on September 26. Richardson, known for his experience in leading strategic and turnaround efforts in small cap companies, expressed excitement about enhancing shareholder value through new strategic initiatives. Becher echoed this sentiment, acknowledging the potential opportunities ahead for Qualigen.
Qualigen Therapeutics (NASDAQ: QLGN) announced on September 20, 2024, that it received a notice from Nasdaq on September 11, 2024. The Nasdaq Hearings Panel has granted an extension for the company's continued listing on The Nasdaq Capital Market. This extension is subject to Qualigen demonstrating compliance with all applicable criteria for continued listing by November 19, 2024. The company stated that it is diligently working to fulfill the requirements set forth by the Panel to ensure its continued listing on Nasdaq.
Qualigen Therapeutics (NASDAQ: QLGN) has closed its previously announced public offering, raising approximately $3.47 million in gross proceeds. The offering included 14,724,058 shares of common stock at $0.13 per share and pre-funded warrants to purchase up to 11,972,754 shares at $0.129 per share. Univest Securities, acted as the exclusive placement agent. The company plans to use the net proceeds for various purposes, including:
- Paying off a $2,000,000 Senior Note issued in July 2024
- Advancing clinical trials and preclinical studies
- General working capital
- Possible expansion of relationship with Marizyme, Inc.
- Potential future acquisitions
Qualigen Therapeutics (NASDAQ: QLGN) has announced the pricing of a $3.46 million public offering. The offering includes 14,724,058 shares of common stock at $0.13 per share and pre-funded warrants for up to 11,972,754 shares at $0.129 each. The closing is expected around September 6, 2024. Univest Securities, acted as the exclusive placement agent. The company plans to use the net proceeds for various purposes, including:
- Paying off a $2,000,000 Senior Note issued in July 2024
- Advancing clinical trials and preclinical studies
- General working capital
- Possible expansion of relationship with Marizyme, Inc.
- Potential future acquisitions
On May 23, 2024, Qualigen Therapeutics received a delisting notice from Nasdaq due to non-compliance with the minimum bid price requirement and failure to file Form 10-Q for the period ended March 31, 2024. Qualigen's stock has been trading below $1.00 for more than 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). Additionally, the company failed to meet the $2.5 million minimum stockholders’ equity requirement by the extended deadline of May 21, 2024. Qualigen has requested a hearing before a Nasdaq Hearings Panel to stay the suspension of trading and intends to submit a compliance plan. The company's stock will continue to trade under the symbol 'QLGN' during this process.
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