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 (Nasdaq: QLGN) has contracted with IRISYS LLC to manufacture its lead drug candidate AS1411, aimed at treating viral diseases, including COVID-19. Preclinical studies from the University of Louisville indicate AS1411’s potential to protect cells from the novel coronavirus. Qualigen plans to file an IND application with the FDA in Q4 2020 and initiate Phase 1/2 clinical studies early next year. The drug has shown safety in prior trials involving over 100 cancer patients. This step is crucial for advancing AS1411’s development as an antiviral therapeutic.
Qualigen Therapeutics (Nasdaq: QLGN) has appointed Amy Broidrick to its Board of Directors, bringing over 25 years of pharmaceutical experience, including roles in the launches of VYTORIN™ and Celebrex™. Broidrick's background in corporate development and marketing is expected to support Qualigen’s therapeutic development initiatives, particularly drugs targeting cancer and COVID-19. The company focuses on innovative therapeutics and diagnostic systems, with its FastPack System currently in operation.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) has announced the issuance of patent No. 10,744,257 for its Selective Target Antigen Removal System (STARS™) technology, aimed at removing viral and tumor-produced compounds from blood. With this patent, Qualigen's intellectual property portfolio expands to 26 issued patents. The STARS technology, still in early development stages, shows promising in vitro results and is intended for applications in cancer and infectious diseases. Qualigen aims to leverage its existing diagnostic systems to further advance STARS.
Qualigen Therapeutics reported its fiscal Q1 2021 results, showing total revenues of $0.9 million, down from $1.5 million in Q1 2020, largely attributed to the COVID-19 pandemic's impact on diagnostic test volumes. The company raised $18 million through equity financing, with cash reserves now at $16 million, adequate to fund operations into 2022. Significant developments include exclusive licensing agreements with the University of Louisville for cancer drug candidates and COVID-19 treatment. However, net loss surged to $18.6 million, inclusive of a $16.2 million non-cash charge for warrant liabilities.
Qualigen Therapeutics (NASDAQ: QLGN) will host a business update conference call on August 18, 2020, at 4:30 p.m. Eastern time. The call will cover the company's business strategy, drug development program, and fiscal first quarter 2021 financials. Participants can pre-register for immediate access. A replay will be available after the call and until August 25, 2020. Qualigen develops therapeutics for cancer and infectious diseases using FDA-approved diagnostics.
Qualigen Therapeutics announced the closing of a registered direct offering on Aug. 4, 2020, raising $10 million through the sale of 1,717,106 shares of common stock and 1,287,829 warrants. The offering was priced at $5.82375 per share and includes warrants with an exercise price of $6.00, valid for two years. A.G.P./Alliance Global Partners acted as placement agent. Qualigen focuses on developing therapeutics for cancer and infectious diseases, with its only commercial product currently being the FastPack diagnostic system.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced a definitive agreement with an institutional investor for a $10 million registered direct offering. This includes the sale of 1,717,106 Common Shares and 1,287,829 Common Warrants at a combined price of $5.82375, effective on August 4, 2020. The Common Warrants have an exercise price of $6.00 and a two-year term. A.G.P./Alliance Global Partners is the sole placement agent for this offering, which is conducted under an effective shelf registration statement with the SEC.
Qualigen Therapeutics (NASDAQ: QLGN) has commenced commercial shipments of its FastPack SARS-CoV-2 IgG diagnostic test, intended for qualitative detection of COVID-19 antibodies. Submitted for Emergency Use Authorization (EUA) from the FDA, the FastPack tests can deliver results in approximately 10 minutes using the FastPack PRO System, a point-of-care diagnostic tool. CEO Michael Poirier emphasized the importance of this testing for tracking COVID-19 and aiding in vaccine deployment. Qualigen has over 20 years of experience in diagnostics and has generated over $100 million in sales from its FastPack System.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced a definitive agreement for an $8 million registered direct offering. The agreement includes the sale of 1,200,000 common shares, 780,198 pre-funded warrants, and 1,980,198 common warrants at a price of $4.165 per unit, with the common warrants priced at $5.25 per share. The offering, set to close around July 10, 2020, aims to bolster the company’s financial position. A.G.P./Alliance Global Partners is the sole placement agent for this transaction.