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. (symbol: QLGN) is an early-clinical-stage therapeutics company dedicated to the development of innovative treatments for both adult and pediatric cancer. Headquartered in Carlsbad, California, the company's core focus lies in its pioneering research to tackle malignant diseases through its advanced therapeutic programs.
Core Business:
Qualigen's primary business activity revolves around its two key therapeutic programs. The flagship program, QN-302, is an investigational small molecule that acts as a G-quadruplexes (G4)-selective transcription inhibitor. This molecule exhibits a strong binding affinity to G4 structures prevalent in cancer cells, making it a potent candidate in cancer therapy. Additionally, Qualigen has another promising preclinical therapeutic program in its pipeline.
Recent Achievements:
- Recently, Qualigen transitioned from a preclinical to a clinical-stage company following the Investigational New Drug (IND) clearance for QN-302. This milestone marks a significant progression in clinical development and potential cancer treatment breakthroughs.
- The company also divested its FastPack® diagnostics business for approximately $5 million in an all-cash transaction. This strategic move enables Qualigen to concentrate resources on advancing its therapeutics pipeline.
Current Projects:
The ongoing development of QN-302 is a testament to Qualigen's commitment to pioneering cancer treatment solutions. The company is actively engaged in early-phase clinical trials to validate the efficacy and safety of QN-302 and other pipeline candidates.
Financial Condition:
The financial stability of Qualigen is bolstered by the sale proceeds from the divested diagnostics business, providing the necessary capital to fund ongoing and future therapeutic projects. Continuous investments in research and development underscore the company's dedication to discovering and developing novel cancer therapies.
Partnerships:
Qualigen collaborates with various research institutions and industry leaders to advance its drug development initiatives. These partnerships are crucial for fostering innovation and expediting the therapeutic development process.
For more information about Qualigen Therapeutics, Inc., please visit www.qlgntx.com.
Qualigen Therapeutics (Nasdaq: QLGN) shifts focus to its oncology pipeline, including QN-247 and RAS-F, after receiving FDA feedback on its COVID-19 candidate, QN-165. The FDA requested more preclinical studies, prompting the pivot due to the crowded market. Q2 revenue rose 24% to $1.1 million, while the first half saw a 28% increase to $3.0 million. Net loss for Q2 was $5.3 million, down from $18.6 million in 2020. Cash equivalents stood at $15.2 million as of June 30, 2021. Qualigen aims to secure Orphan Drug status for QN-247, enhancing its market position in oncology.
Qualigen Therapeutics (NASDAQ: QLGN) announces the submission of an Investigational New Drug (IND) application for QN-165 to the FDA, targeting COVID-19 treatment in hospitalized patients. QN-165 is a DNA aptamer designed to block viral replication by binding to the nucleolin protein. Chairman and CEO Michael Poirier expressed excitement over this milestone, emphasizing QN-165's unique mechanism that may protect against various virus strains. This marks a significant shift for Qualigen from diagnostics to therapeutics, enhancing its clinical-stage program.
Qualigen Therapeutics (NASDAQ: QLGN) will be added to the Russell Microcap Index at the end of the annual reconstitution on June 28, 2021. This membership signifies progress in its oncology and viral disease pipeline. Membership also ensures automatic inclusion in relevant growth and value indexes, which are significant for institutional investors managing approximately $10.6 trillion in assets. Qualigen's CEO, Michael Poirier, expressed excitement over this milestone, highlighting its implications for investment and growth opportunities.
Qualigen Therapeutics (NASDAQ: QLGN) announced CEO Michael Poirier will present at the LD Micro Invitational XI Conference from June 8-10, 2021. The presentation is scheduled for June 9, 2021, at 12:30 pm PT (3:30 pm ET) in Track 4. It will highlight the company’s therapeutics pipeline aimed at addressing significant unmet needs in cancer and viral diseases, along with the established FastPack® diagnostics line. Attendees can request virtual one-on-one meetings with management.
Qualigen Therapeutics has appointed Tariq Arshad, MD, MBA as the new Senior Vice President, Chief Medical Officer, aiming to enhance their oncology and viral disease pipeline. Dr. Arshad brings over 20 years of experience from top biopharmaceutical companies, including Becton Dickinson and Pfizer. His expertise in immuno-oncology is expected to significantly advance the company's therapeutic programs. This appointment comes at a crucial growth phase for Qualigen, as it develops novel treatments for cancer and viral diseases, including QN-247 and QN-165.
Qualigen Therapeutics (Nasdaq: QLGN) reported a 30% revenue increase to $1.9 million for Q1 2021, up from $1.5 million in Q1 2020. This growth was driven largely by license revenue from their FastPack® System, particularly from a deal with Yi Xin Duan Jishu in China. As of March 31, 2021, the company had approximately $21.9 million in cash. Qualigen is on track to file an IND in 2H21 for QN-165, an antiviral for COVID-19, and completed R&D for QN-247. Increased administrative expenses rose to $2.9 million due to public company overhead.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced that Michael Poirier and Amy Broidrick will present at the Benzinga Biotech Small Cap Conference on March 24, 2021. The presentation is scheduled for 11:35 am – 11:55 am EDT.
Qualigen develops therapies for cancer and infectious diseases, including promising candidates like ALAN, RAS-F, and STARS. Their FDA-approved FastPack® System is used for diagnostic tests worldwide. Interested investors may request one-on-one meetings through conference hosts.
Qualigen Therapeutics (Nasdaq: QLGN) has promoted Shishir Sinha to Chief Operating Officer, enhancing its leadership in drug development. Sinha, a 15-year veteran of the company, will leverage his expertise to oversee therapeutics project management. Qualigen focuses on developing therapeutics for cancer and infectious diseases while maintaining its FastPack System for diagnostics. Their product pipeline includes ALAN, RAS-F, and STARS. Despite advancements, challenges in clinical trials and regulatory approvals remain, posing risks to stock performance.
Qualigen Therapeutics, Inc. (NASDAQ: QLGN) announced that CEO Michael Poirier will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 3:00 PM EDT. This virtual event will feature numerous healthcare companies across various sectors. Qualigen focuses on innovative cancer and viral disease therapeutics, including the ALAN cancer drug candidate and the FastPack® System used for diagnostics. Their facility in Carlsbad is FDA and ISO certified, emphasizing their commitment to quality and innovation in healthcare.
Qualigen Therapeutics (NASDAQ: QLGN) has entered into a Material Evaluation and Option Agreement with University College London (UCL) to further develop its anticancer drug candidate ALAN (AS1411-GNP). This collaboration focuses on combining ALAN with G-quadruplex binders, potentially enhancing its efficacy, especially against pancreatic cancer. Qualigen plans to initiate Phase 1 human trials in 2021 for acute myeloid leukemia. The company aims to secure a worldwide commercial license for this technology, which could lead to significant advancements in cancer treatment.
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