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 received a deficiency notification from Nasdaq on May 19, 2025, due to its failure to file the Q1 2025 Form 10-Q on time. This notification adds to existing listing compliance issues and will be considered by the Nasdaq Hearings Panel as an additional basis for potential delisting from The Nasdaq Stock Market. The company plans to present its compliance plan at a previously scheduled hearing and is working to complete and file the delayed quarterly report. However, there is no guarantee that Nasdaq will grant an extension or that Qualigen will regain compliance with listing requirements.
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
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