Qualigen Therapeutics, Inc. - QLGN STOCK NEWS

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.

Qualigen Therapeutics (Nasdaq: QLGN) announced a significant milestone in its collaboration with Yi Xin Zhen Duan Jishu of China, which initiated a payment obligation for the technology transfer of the FastPack® System. This system, known for rapid immunoassay testing, positions Qualigen for expansion in the Chinese market. The agreement includes cash payments expected in early 2021, and Qualigen may receive royalties on sales. CEO Michael Poirier expressed optimism for growth opportunities while advancing their cancer therapeutics pipeline, which is set for clinical trials this year.

Qualigen Therapeutics (Nasdaq: QLGN) will be presenting at the H.C. Wainwright BioConnect 2021 Virtual Conference from January 11-14, 2021. The presentation will be delivered by Michael Poirier, the Chairman and CEO of the company. Investors can access the presentation via webcast on-demand, starting January 11, 2021, on the Qualigen Therapeutics website, specifically in the Investors section.

Qualigen Therapeutics (Nasdaq: QLGN) reported significant developments in its 2021 outlook. The company has raised $12 million in a direct offering, bringing its total cash reserves to $24 million, extending its operational runway into 2022. Key initiatives for 2021 include initiating a Phase 2a clinical trial for AS1411 against COVID-19 and a Phase 1 trial for ALAN in acute myeloid leukemia. The diagnostics platform is also set for expansion, particularly with its FastPack® COVID-19 antibody test. Qualigen's management team has been strengthened with new appointments.

Qualigen Therapeutics (Nasdaq: QLGN) announced the closing of a registered direct offering, raising $12 million from a single institutional investor. The offering included the sale of 2,370,786 shares of common stock, 1,000,000 pre-funded common stock warrants, and two tranches of common stock warrants with an exercise price of $4.07 per share. A.G.P./Alliance Global Partners acted as the sole placement agent. This fundraising aims to support the development of its therapeutic pipeline focused on cancer and infectious diseases.

Qualigen Therapeutics announces a $12 million registered direct offering with an institutional investor. This agreement includes the sale of 2,370,786 Common Shares, 1,000,000 Pre-Funded Warrants, and 1,348,314 Common Warrants at a price of $3.56 per share. The offerings are expected to close on December 18, 2020, pending customary conditions. The Common Warrants will have an exercise price of $4.07 and a two-year term. A.G.P./Alliance Global Partners is the sole placement agent for this offering.

Qualigen Therapeutics (Nasdaq: QLGN) announced a new patent for its ALAN technology, enhancing cancer treatment and imaging. This patent, issued by the U.S. Patent and Trademark Office, covers Anti-Nucleolin Agent-Conjugated Nanoparticles, which may improve radiation therapy and MRI imaging. The company holds exclusive rights to ALAN, which combines a DNA aptamer and gold nanoparticles for targeting tumor cells, with Phase 1 trials set for 2021. Qualigen's patent portfolio now includes 58 issued and pending patents, emphasizing its commitment to developing innovative cancer therapies.

Qualigen Therapeutics (Nasdaq: QLGN) announced the appointment of Amy Broidrick as Executive Vice President and Chief Strategy Officer, and Sidney Emery, Jr. as an independent director of the board, effective December 7, 2020. Broidrick, a biopharma executive with over 25 years of experience, will lead strategic initiatives focused on the therapeutics pipeline. Emery's addition increases the board's size to seven, enhancing its expertise. The management changes aim to advance the development of the company's lead compound AS1411 for COVID-19 and other cancer therapeutics.

Qualigen Therapeutics (Nasdaq: QLGN) has completed the recertification of its AS1411 supply, gearing up for Phase 2a efficacy trials aimed at treating COVID-19. The company plans to file for FDA approval and initiate trials in early 2021. AS1411, a nucleolin-targeting DNA aptamer, has shown promise in preclinical studies at the University of Louisville, indicating potential effectiveness against COVID-19 and other viruses. Qualigen holds exclusive U.S. patent rights for AS1411's use against COVID-19 and is progressing with IND-enabling studies.