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. (NASDAQ: QLGN), now operating under the name AIxCrypto Holdings, Inc. with the ticker AIXC, generates news that spans both biotechnology and digital asset markets. Company press releases and SEC reports describe a transition from a clinical-stage oncology and infectious disease drug developer into a cross-disciplinary enterprise focused on decentralized AI, Web3 asset infrastructure, and intelligent trading systems.
News items for QLGN and AIXC include updates on strategic financings, such as the $41 million PIPE transaction led by Faraday Future Intelligent Electric Inc., which resulted in majority beneficial ownership and new governance arrangements. Coverage also highlights Nasdaq listing and compliance communications, including notices related to stockholder equity requirements and shareholder approval rules, and the company’s responses through private placements and stockholder meetings.
On the technology and crypto side, the company issues detailed announcements about the launch and evolution of its C10 Cryptocurrency Asset Treasury, which follows an 80% passive and 20% active allocation strategy to top cryptocurrencies, and about partnerships supporting this strategy, such as its agreement with BitGo for digital asset custody and liquidity access. Additional news focuses on the BesTrade DeAI Agent, C10 Index and treasury products, potential C10 ETF concepts, and ecosystem tokens like a potential C10 stablecoin and EAI + Crypto RWA dual-bridge products.
Biotech-focused updates continue to appear as well, including patent grants for QN-302 across numerous countries and descriptions of the company’s ongoing QN-302 clinical trial and Pan-RAS preclinical program. Governance and leadership changes, including new board appointments and executive roles associated with Faraday Future, are also recurring themes. Investors and observers can use this news stream to follow the company’s dual-track evolution in therapeutics and AI × Web3 initiatives.
Qualigen Therapeutics has appointed Tariq Arshad, MD, MBA as the new Senior Vice President, Chief Medical Officer, aiming to enhance their oncology and viral disease pipeline. Dr. Arshad brings over 20 years of experience from top biopharmaceutical companies, including Becton Dickinson and Pfizer. His expertise in immuno-oncology is expected to significantly advance the company's therapeutic programs. This appointment comes at a crucial growth phase for Qualigen, as it develops novel treatments for cancer and viral diseases, including QN-247 and QN-165.
Qualigen Therapeutics (Nasdaq: QLGN) reported a 30% revenue increase to $1.9 million for Q1 2021, up from $1.5 million in Q1 2020. This growth was driven largely by license revenue from their FastPack® System, particularly from a deal with Yi Xin Duan Jishu in China. As of March 31, 2021, the company had approximately $21.9 million in cash. Qualigen is on track to file an IND in 2H21 for QN-165, an antiviral for COVID-19, and completed R&D for QN-247. Increased administrative expenses rose to $2.9 million due to public company overhead.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced that Michael Poirier and Amy Broidrick will present at the Benzinga Biotech Small Cap Conference on March 24, 2021. The presentation is scheduled for 11:35 am – 11:55 am EDT.
Qualigen develops therapies for cancer and infectious diseases, including promising candidates like ALAN, RAS-F, and STARS. Their FDA-approved FastPack® System is used for diagnostic tests worldwide. Interested investors may request one-on-one meetings through conference hosts.
Qualigen Therapeutics (Nasdaq: QLGN) has promoted Shishir Sinha to Chief Operating Officer, enhancing its leadership in drug development. Sinha, a 15-year veteran of the company, will leverage his expertise to oversee therapeutics project management. Qualigen focuses on developing therapeutics for cancer and infectious diseases while maintaining its FastPack System for diagnostics. Their product pipeline includes ALAN, RAS-F, and STARS. Despite advancements, challenges in clinical trials and regulatory approvals remain, posing risks to stock performance.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced that CEO Michael Poirier will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 3:00 PM EDT. This virtual event will feature numerous healthcare companies across various sectors. Qualigen focuses on innovative cancer and viral disease therapeutics, including the ALAN cancer drug candidate and the FastPack® System used for diagnostics. Their facility in Carlsbad is FDA and ISO certified, emphasizing their commitment to quality and innovation in healthcare.
Qualigen Therapeutics (NASDAQ: QLGN) has entered into a Material Evaluation and Option Agreement with University College London (UCL) to further develop its anticancer drug candidate ALAN (AS1411-GNP). This collaboration focuses on combining ALAN with G-quadruplex binders, potentially enhancing its efficacy, especially against pancreatic cancer. Qualigen plans to initiate Phase 1 human trials in 2021 for acute myeloid leukemia. The company aims to secure a worldwide commercial license for this technology, which could lead to significant advancements in cancer treatment.
Qualigen Therapeutics (Nasdaq: QLGN) announced a significant milestone in its collaboration with Yi Xin Zhen Duan Jishu of China, which initiated a payment obligation for the technology transfer of the FastPack® System. This system, known for rapid immunoassay testing, positions Qualigen for expansion in the Chinese market. The agreement includes cash payments expected in early 2021, and Qualigen may receive royalties on sales. CEO Michael Poirier expressed optimism for growth opportunities while advancing their cancer therapeutics pipeline, which is set for clinical trials this year.
Qualigen Therapeutics (Nasdaq: QLGN) will be presenting at the H.C. Wainwright BioConnect 2021 Virtual Conference from January 11-14, 2021. The presentation will be delivered by Michael Poirier, the Chairman and CEO of the company. Investors can access the presentation via webcast on-demand, starting January 11, 2021, on the Qualigen Therapeutics website, specifically in the Investors section.
Qualigen Therapeutics (Nasdaq: QLGN) reported significant developments in its 2021 outlook. The company has raised $12 million in a direct offering, bringing its total cash reserves to $24 million, extending its operational runway into 2022. Key initiatives for 2021 include initiating a Phase 2a clinical trial for AS1411 against COVID-19 and a Phase 1 trial for ALAN in acute myeloid leukemia. The diagnostics platform is also set for expansion, particularly with its FastPack® COVID-19 antibody test. Qualigen's management team has been strengthened with new appointments.
Qualigen Therapeutics (Nasdaq: QLGN) announced the closing of a registered direct offering, raising $12 million from a single institutional investor. The offering included the sale of 2,370,786 shares of common stock, 1,000,000 pre-funded common stock warrants, and two tranches of common stock warrants with an exercise price of $4.07 per share. A.G.P./Alliance Global Partners acted as the sole placement agent. This fundraising aims to support the development of its therapeutic pipeline focused on cancer and infectious diseases.
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