Qualigen Therapeutics, Inc. - QLGN STOCK NEWS

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.

Qualigen Therapeutics, Inc. presents preclinical data on Novel Direct Pan-RAS Inhibitors at the AACR Annual Meeting 2024, showing potential for broad-based cancer treatment. The compounds target various RAS mutations with minimal toxicity, suggesting promising therapeutic applications.

Qualigen Therapeutics, Inc. presents early clinical data on its novel anti-cancer drug QN-302 at AACR Annual Meeting 2024. Encouraging results show no DLTs or SAEs in pancreatic cancer patients, with some showing stable disease. Dose escalation ongoing with positive patient outcomes.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced the initiation of dosing for three patients in the first cohort of the Phase 1 clinical trial of QN-302 for the treatment of advanced or metastatic solid tumors. The company shared scientific data on QN-302 at the AACR Special Conference, highlighting potential biomarkers and gene targets. Additionally, the company partnered with TD2 for the Phase 1 clinical development of QN-302. Qualigen also presented a poster on the Pan-RAS inhibitor platform at the AACR Special Conference, which showed promising results. The company completed the divestiture of its FastPack® diagnostics business to focus on its therapeutics pipeline.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announces the dosing of the first patient in the Phase 1a clinical trial for QN-302, a potential first-in-class, investigational G-Quadruplex-selective transcription inhibitor designed for the treatment of advanced or metastatic solid tumors.