Qualigen Therapeutics Inc Stock Price, News & Analysis

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) reported a 31% increase in revenue for the fiscal year ended December 31, 2021, totaling $5.65 million. This growth is attributed to increased sales and licensing from the diagnostics sector, especially from their FastPack rapid testing products. The company also regained worldwide distribution control over these products, enhancing revenue potential. In addition, Qualigen advanced its therapeutic pipeline through licensing QN-302, targeting pancreatic ductal adenocarcinoma. The company ended 2021 with $17.5 million in cash.

Qualigen Therapeutics (Nasdaq: QLGN) has appointed Translational Drug Development (TD2) to oversee the preclinical development of its lead drug candidate, QN-302, targeting pancreatic ductal adenocarcinoma (PDAC). This partnership aims to navigate the IND process efficiently and expedite clinical trials. QN-302 is a genomic quadruplex-selective transcription inhibitor, potentially eligible for Orphan Drug Designation due to the high unmet medical need in treating PDAC, which currently lacks effective options.

Qualigen Therapeutics (Nasdaq: QLGN) announced positive in vivo data for its lead compound QN-302 at the AACR Conference. The data highlights QN-302's potential as a treatment for pancreatic and prostate cancers, showcasing significant anti-tumor activity in various patient-derived xenograft models. QN-302 is recognized for its strong binding affinity to genomic quadruplexes, supporting its therapeutic application. Furthermore, it has demonstrated bioavailability and tolerability at proposed therapeutic doses in animal studies. These findings could foster further clinical development.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced the extension of its research agreement with the University of Louisville Research Foundation. This collaboration aims to further develop the RAS-F platform, targeting solid tumors. The partnership enhances efforts to identify candidates for IND-enabling studies by late 2022. The RAS-F program involves small molecules designed to inhibit mutated RAS proteins, which are prevalent in various cancers. Mutant RAS is implicated in 25% of cancers, and targeting its pathways may provide new therapeutic avenues.

Qualigen Therapeutics (Nasdaq: QLGN) announced a shift to full control of its diagnostics business following the expiration of its agreement with Sekisui Diagnostics. This transition is expected to boost revenue and profit margins from its FastPack diagnostics system. The company is also advancing its therapeutic pipeline, notably developing QN-302 for pancreatic cancer, which has shown promise in preclinical studies. Qualigen aims to enhance shareholder value through strategic investments and by diversifying its offerings in diagnostics and therapeutics.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced the acceptance of three abstracts for poster presentations at the American Association of Cancer Research (AACR) conference, scheduled for April 8-13, 2022, in New Orleans. The abstracts focus on QN-302, a compound aimed at treating pancreatic cancer and other tumors. Presentations include insights on the compound's anti-tumor activity in various cancer models. Qualigen continues to advance its pipeline of oncology treatments, including QN-247 and other investigational compounds targeted at cancer proliferation.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) has appointed Professor Stephen Neidle as a scientific advisor to enhance the development of its lead compound QN-302, aimed at treating pancreatic ductal adenocarcinoma (PDAC). With over 30 years of experience and numerous publications, Neidle will collaborate with Qualigen's team to conduct essential IND-enabling studies. Qualigen believes QN-302 could also achieve Orphan Drug Designation, which could offer regulatory advantages. Pancreatic cancer remains a significant health concern, with high mortality rates and a growing number of diagnoses.

Qualigen Therapeutics has exclusively in-licensed a genomic quadruplex (G4)-selective transcription inhibitor program from University College London (UCL), aimed at developing QN-302 for pancreatic cancer treatment. This program enhances Qualigen's oncology pipeline and expands its intellectual property portfolio. QN-302 shows promise in preclinical studies, demonstrating anti-tumor activity against various cancers, including gemcitabine-resistant pancreatic tumors. Given the low survival rate of pancreatic cancer, QN-302 may qualify for Orphan Drug Designation, offering regulatory and commercial advantages.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) has promoted Amy Broidrick to President and Chief Strategy Officer, continuing her strategic guidance in oncology pipeline programs and financial strategy. CEO Michael Poirier remains at the helm. Broidrick, who has over 26 years of biopharmaceutical experience, aims to advance Qualigen's promising oncology treatments, including QN-247 and RAS-F. The company focuses on treatments for adult and pediatric cancers, with potential for Orphan Drug Designation, while also maintaining its FDA-approved FastPack diagnostics system.