Qualigen Therapeutics, Inc. Received Extension from Nasdaq Hearings Panel

Rhea-AI Summary

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.

Positive

• Granted extension for continued Nasdaq listing until November 19, 2024

Negative

• Risk of potential delisting if compliance criteria are not met by November 19, 2024

CARLSBAD, Calif., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (NASDAQ: QLGN) (the “Company”) today announced that on September 11, 2024, the Company received a notice from Nasdaq indicating that the Nasdaq Hearings Panel (“Panel”) has granted an extension for the continued listing of the Company, subject to the Company evidencing compliance with all applicable criteria for continued listing on The Nasdaq Capital Market by November 19, 2024. The Company is diligently working to fulfill the requirements set forth by the Panel to ensure the Company’s continued listing on Nasdaq.

About Qualigen Therapeutics, Inc.

For more information about Qualigen Therapeutics, Inc., please visit www.qlgntx.com.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company may in some cases use terms such as “predicts,” “believes,” “potential,” “continue,” “anticipates,” “estimates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “likely,” “will,” “should” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. The Company’s forward-looking statements are based on current beliefs and expectations of its management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, including statements regarding the timing of the offering. Any or all of the forward-looking statements may turn out to be wrong or be affected by assumptions the Company makes that later turn out to be incorrect, or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to the Company’s ability to regain compliance with Nasdaq’s continued listing requirements, including the Minimum Bid Price Requirement and the Minimum Stockholders’ Equity Requirement or its alternatives prior to October 31, 2024, the Company’s ability to file its Form 10-Q for the period ended September 30, 2024, or otherwise in the future, or otherwise maintain compliance with any other listing requirement of The Nasdaq Capital Market, the potential de-listing of the Company’s shares from The Nasdaq Capital Market due to its failure to comply with the Minimum Bid Price Requirement or the Minimum Stockholders’ Equity Requirement or its alternatives, and the Company’s ability to file its Form 10-Q for the period ended September 30, 2024, or otherwise in the future, and the other risks set forth in the Company’s filings with the Securities and Exchange Commission, including in its Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q. For all these reasons, actual results and developments could be materially different from those expressed in or implied by the Company’s forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this news release. The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact:

Investor Relations
ir@qlgntx.com.

Source: Qualigen Therapeutics, Inc.

FAQ

What extension did Qualigen Therapeutics (QLGN) receive from Nasdaq?

Qualigen Therapeutics received an extension from the Nasdaq Hearings Panel for continued listing on The Nasdaq Capital Market until November 19, 2024, subject to evidencing compliance with all applicable criteria.

When does Qualigen Therapeutics (QLGN) need to comply with Nasdaq listing requirements?

Qualigen Therapeutics needs to demonstrate compliance with all applicable criteria for continued listing on The Nasdaq Capital Market by November 19, 2024.

What is Qualigen Therapeutics (QLGN) doing to maintain its Nasdaq listing?

Qualigen Therapeutics stated that it is diligently working to fulfill the requirements set forth by the Nasdaq Hearings Panel to ensure the company's continued listing on Nasdaq.