Qualigen Therapeutics, Inc. - QLGN STOCK NEWS

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.

Qualigen Therapeutics announced the closing of a registered direct offering, selling 5,880,000 shares at $1.50 each, totaling $8,820,000 in gross proceeds. The offering was facilitated by A.G.P./Alliance Global Partners under an effective shelf registration statement. These funds could support the development of its therapeutic pipeline, including cancer drug candidates like QN-247 and RAS-F. However, the press release also contains forward-looking statements indicating potential risks regarding the success of drug development and regulatory approvals.

Qualigen Therapeutics (NASDAQ: QLGN) announced definitive agreements for the sale of 5,880,000 shares of common stock at $1.50 per share in a registered direct offering, expected to close around December 1, 2021. This offering is subject to conditions including a waiver from a prior investor concerning stock sale rights and warrant repricing. A.G.P./Alliance Global Partners is the sole placement agent. The transaction is part of a shelf registration statement filed with the SEC.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) reported a 38% increase in quarterly revenues to approximately $1.2 million for Q3 2021, up from $0.8 million in Q3 2020, and a 30% rise in year-to-date revenues to $4.2 million compared to $3.2 million year-over-year.
The net loss decreased to $2.9 million or $0.10 per share for Q3 2021, improved from a loss of $8.1 million or $0.41 per share in Q3 2020. Cash equivalents stand at $12.3 million, adequate for operations through late 2022.

Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced a study validating its FastPack^® IP diagnostic test for thyroid stimulating hormone (TSH) levels, published in Diagnostics. The study, with 100 participants, found FastPack comparable to traditional lab methods, offering results in about 15 minutes versus a 2-day wait. This validates FastPack's accuracy in real-world settings, enhancing its market position. Since its inception, FastPack sales have surpassed $100 million, demonstrating its established role in diagnostics for various conditions.

Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced that CEO Michael Poirier will present at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit from September 20-23, 2021. The presentation, scheduled for September 22 at 4:35 pm EDT, will focus on the company's oncology drug pipeline, particularly QN-247 and RAS-F, which have shown promising preclinical results. The virtual format allows for one-on-one meetings with management and will be available for live viewing and for 90 days after.

Qualigen Therapeutics, Inc. (NASDAQ: QLGN) will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. CEO Michael Poirier will discuss the company’s oncology pipeline, including promising preclinical results for QN-247 and RAS-F assets. The presentation will be available virtually starting September 13 at 7:00 AM ET and accessible for 90 days. Virtual one-on-one meetings with management will be held during the conference. Qualigen focuses on cancer therapies with potential Orphan Drug Designation and also has a diagnostics division.