Qualigen Therapeutics, Inc. - QLGN STOCK NEWS

Qualigen Therapeutics (Nasdaq: QLGN) presented two posters showcasing its lead compound QN-302 at the AACR 8th Special Conference on Pancreatic Cancer in Boston from September 13-16, 2022. The posters highlighted QN-302's safety profile, showing no cardiac or neurological liabilities in preclinical mouse models, and its potential to target the S100P gene, which may aid in pancreatic cancer treatment. The company is on track to file an Investigational New Drug application in the first half of 2023, aiming for Orphan Drug Designation.

Qualigen Therapeutics (Nasdaq: QLGN) has established a Scientific Advisory Board (SAB) to advance its lead therapeutic candidate, QN-302, aimed at treating pancreatic cancer and other solid tumors. The SAB comprises top experts from notable institutions, providing strategic guidance amidst ongoing drug development efforts. CEO Michael Poirier expressed confidence in QN-302's potential, underlining the SAB's expertise as critical for the program. Qualigen specializes in cancer therapies and diagnostics, maintaining a strong research and development focus while pursuing Orphan Drug Designation.

Qualigen Therapeutics reported strong Q2 2022 results, with FastPack sales increasing by 28% year-over-year and gross profit rising 64%. Revenues reached $1.4 million, up from $1.1 million in Q2 2021. The company achieved key milestones in its oncology programs and acquired a majority stake in NanoSynex. Despite a net loss of $4.1 million, down from $5.4 million the previous year, R&D costs decreased significantly from $4.5 million to $1.5 million, indicating improved cost management. Qualigen expects its cash reserves of $9.7 million to sustain operations into 2023.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced the completion of its in vivo efficacy analysis for QN-247 in solid tumors, specifically in a model for triple negative breast cancer (TNBC). The results indicate robust efficacy and no safety concerns, leading the company to pursue further investigations. Qualigen plans to submit an IND for its QN-302 program targeting G-Quadruplex expressing solid tumors in the coming months. CEO Michael Poirier confirmed the company's strong cash position and readiness to raise capital as needed.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) has partnered with Hande Sciences to scale up manufacturing for its lead therapeutic program, QN-302, aimed at treating pancreatic cancer and other tumors. The collaboration will support IND-enabling GLP studies expected to start in Q3 2022. Hande Sciences is known for its expertise in custom synthesis and GMP manufacturing, with a facility expected to be operational by August 2022. QN-302 is a G-quadruplex-selective transcription inhibitor, potentially qualifying for Orphan Drug Designation due to pancreatic cancer's low prevalence.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) has announced its participation at the BIO International Convention taking place from June 13 to 16, 2022, at the San Diego Convention Center. The company's Chief Medical Officer, Tariq Arshad, will present an overview of its oncology drug pipeline and diagnostics business on June 15 at 2:30 PM PT. Qualigen focuses on developing cancer treatments and commercializing diagnostics, including investigational compounds QN-302 and QN-247, aimed at combating various cancers.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) has initiated IND-enabling studies for its lead program, QN-302, targeted at treating pancreatic cancer and other solid tumors. The company established a maximum tolerated dose for QN-302, validating its safety profile. An IND application to the FDA is slated for submission in the first half of 2023, with exploratory toxicology studies commencing in Q3 2022. Pancreatic ductal adenocarcinoma (PDAC) is a major focus, representing a critical unmet need, as it is one of the deadliest cancers globally.

Qualigen Therapeutics has acquired a majority stake in NanoSynex, a developer of advanced diagnostics technology, particularly an Antimicrobial Susceptibility Testing (AST) platform. This acquisition aims to enhance Qualigen's position in the $30+ billion global infectious disease diagnostics market. The AST platform promises rapid and accurate testing for difficult-to-treat bacterial infections, addressing the critical issue of antibiotic resistance. The deal includes stock-for-stock acquisition and future milestone funding to support commercialization efforts.

Qualigen Therapeutics (Nasdaq: QLGN) announced that two abstracts of its pan-RAS inhibitor program have been featured in the ASCO Annual Meeting Abstract Book. These studies highlight the effectiveness of RAS-F, which shows promise in treating pancreatic cancer and malignant peripheral nerve sheath tumors (MPNST). RAS-F demonstrated significant in vitro and in vivo activity, particularly against pancreatic tumors characterized by RAS mutations. The company aims to identify a lead candidate for IND-enabling studies by Q4 2022, reflecting positive scientific interest and collaboration with the University of Louisville.