Fastpacking

Qualigen Therapeutics, Inc. Reports Financial Results and Corporate Update for Quarter Ending June 30, 2023

Retrieved on: 
Tuesday, August 15, 2023
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CARLSBAD, Calif., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a clinical-stage therapeutics company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, today announces financial results for the second quarter ending June 30, 2023, and provides a corporate update:

Key Points: 
  • Based on this clearance, the Company plans to initiate the Phase 1 clinical trial in the second half of 2023 and will enroll patients with advanced or metastatic solid tumors.
  • This clearance is the culmination of dedicated efforts by the Qualigen team and our extensive network of collaborators, subject matter experts, and service providers and exemplifies our steadfast commitment to patients.
  • General and administrative expenses remained at $2.7 million for the quarter, compared to the same period of 2022.
  • Sales and marketing expenses were approximately $0.2 million for the quarter ended June 30, 2023, a decrease of $0.1 million or 45%, compared to the quarter ended June 30, 2022, primarily due to the January 2023 reduction in force.

Qualigen Therapeutics, Inc. Reports Financial Results and Corporate Update for Quarter Ending March 31, 2023

Retrieved on: 
Tuesday, May 16, 2023
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CARLSBAD, Calif., May 16, 2023 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces financial results for the first quarter ending March 31, 2023, and provides a corporate update.

Key Points: 
  • CARLSBAD, Calif., May 16, 2023 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces financial results for the first quarter ending March 31, 2023, and provides a corporate update.
  • “Within our cancer therapeutics pipeline, we are making continued progress both on the development side, and through recognition within the scientific community.
  • Net cash used in operating activities was $2.6 million for the quarter ended March 31, 2023, as compared to $3.9 million for the corresponding period in 2022.
  • As of March 31, 2023, the Company had approximately $4.4 million in cash.

Qualigen Therapeutics, Inc. Reports Fourth Quarter and Year-End 2022 Financial Results and Provides Corporate Update

Retrieved on: 
Tuesday, May 2, 2023
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We are confident that achievement of this milestone can be transformative, as it will mark the transition of Qualigen into a clinical stage cancer therapeutics company.

Key Points: 
  • We are confident that achievement of this milestone can be transformative, as it will mark the transition of Qualigen into a clinical stage cancer therapeutics company.
  • “Also in 2022, we successfully resumed full responsibility for sales and marketing of our legacy FastPack business.
  • Net cash used in operating activities was $13.2 million for the year ended December 31, 2022, as compared to $14.7 million for the corresponding period in 2021.
  • As of December 31, 2022 the Company had approximately $7.0 million in cash.

Qualigen Therapeutics Chief Executive Officer Michael Poirier Provides Letter to Stockholders

Retrieved on: 
Wednesday, February 1, 2023
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Upon execution of a potential agreement at a future time, we would ensure all derivative intellectual property be exclusively owned by Qualigen Therapeutics.

Key Points: 
  • Upon execution of a potential agreement at a future time, we would ensure all derivative intellectual property be exclusively owned by Qualigen Therapeutics.
  • As a result of these changes, certain executive responsibilities were reassigned by expanding the role of our current President and Chief Strategy Officer, Amy Broidrick, to become President, Chief Strategy and Operating Officer effective as of February 16, 2023.
  • We are grateful to our many stockholders who have loyally stood by us as we steadfastly execute on our long-range operating plan.
  • We look forward to providing more updates as they develop, and to communicate with our valued stockholders and stakeholders along the way.

Qualigen Therapeutics, Inc. Announces 1-for-10 Reverse Stock Split

Retrieved on: 
Tuesday, November 22, 2022
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CARLSBAD, Calif., Nov. 22, 2022 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN Qualigen Therapeutics, Inc.), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces that its board of directors (the “Board”) has approved a 1-for-10 reverse stock split of the Company’s common stock. The reverse stock split will become effective at 12:01 am ET on November 23, 2022 and begin trading on a split-adjusted basis at the market open on November 23, 2022 with the new CUSIP number 74754R 202.

Key Points: 
  • The Company is implementing the reverse stock split to enable it to regain compliance with the Nasdaq $1.00 minimum bid price requirement.
  • As a result of the reverse stock split, every 10 shares of the Companys common stock issued and outstanding will be automatically reclassified into one share of common stock.
  • The reverse stock split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of Company shares, with the exception of those stockholders receiving cash in lieu of fractional shares.
  • Equiniti Trust Company (Equiniti) is acting as the exchange agent and transfer agent for the reverse stock split.

Qualigen Therapeutics, Inc. Reports Second Quarter 2022 Financial Results and Provides Corporate Update

Retrieved on: 
Tuesday, August 16, 2022
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CARLSBAD, Calif., Aug. 16, 2022 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces its financial results for the second quarter ended June 30, 2022, and provides an update on its therapeutic pipeline and other corporate developments.

Key Points: 
  • Sales results for the quarter met our expectations, and we are looking forward to continued successful results.
  • We remain on track to complete our IND-enabling studies for QN-302 in the third and fourth quarters of 2022.
  • Our keen focus for the remainder of 2022 remains on execution and achieving our value driving milestones, concluded Mr. Poirier.
  • Revenues for the three months ended June 30, 2022 were $1.4 million compared to approximately $1.1 million in the same quarter of the previous year.

Qualigen Therapeutics Resumes Worldwide Distribution and Commercial Control Over FastPack®

Retrieved on: 
Tuesday, April 5, 2022
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CARLSBAD, Calif., April 05, 2022 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life sciences company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, while also commercializing diagnostics, today announces the official resumption as of April 1, 2022 of worldwide distribution and commercial control of FastPack® from previous marketing partner Sekisui Diagnostics.

Key Points: 
  • Michael Poirier, Qualigen's Chairman and CEO, commented, We are excited to resume all sales and marketing control of our FastPack business.
  • We look forward to continuing stewardship over our FastPack business.
  • FastPack provides rapid and accurate immunoassay tests for prostate cancer, mens health, hormone function, PSA, testosterone, thyroid disorders, pregnancy, and Vitamin D status.
  • For more information about Qualigen Therapeutics, Inc., please visit www.qualigeninc.com .

Qualigen Therapeutics, Inc. Reports Year-End 2021 Financial Results

Retrieved on: 
Friday, April 1, 2022
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Net product sales for Fiscal 2021 were approximately $5.02 million, representing an increase of approximately 18% over the twelve months ended December 31, 2020.

Key Points: 
  • Net product sales for Fiscal 2021 were approximately $5.02 million, representing an increase of approximately 18% over the twelve months ended December 31, 2020.
  • Selling, general and administrative expenses totaled approximately $12.3 million, and research and development expenses were $11.7 million during Fiscal 2021.
  • 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.

Qualigen Therapeutics CEO Michael Poirier Provides Letter to Shareholders

Retrieved on: 
Tuesday, February 22, 2022
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As a result, we expect to see an increase in our revenue and per-unit profit margins from our flagship diagnostics business.

Key Points: 
  • As a result, we expect to see an increase in our revenue and per-unit profit margins from our flagship diagnostics business.
  • Qualigen will assume all commercial activities and distribution management for its diagnostics unit in the U.S. and international markets.
  • We were therefore thrilled to welcome Professor Neidle as a consultant to Qualigen as we prepare to initiate IND-enabling studies for QN-302.
  • We are off to a strong start for the year, with exciting new diagnostics opportunities and a clear path forward for our lead therapeutics program.

Qualigen Therapeutics Promotes Amy Broidrick to President

Retrieved on: 
Tuesday, December 14, 2021
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CARLSBAD, Calif., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing treatments for adult and pediatric cancers with potential for Orphan Drug Designation, today announces a key executive promotion. The company has named Amy Broidrick as President and Chief Strategy Officer. Ms. Broidrick will also continue in her role as a Director. Michael Poirier, who had previously been serving as Chairman, President and Chief Executive Officer, will continue to lead the company as Chief Executive Officer, and Chairman of the Board.

Key Points: 
  • The company has named Amy Broidrick as President and Chief Strategy Officer.
  • Ms. Broidrick joined the Board of Directors of Qualigen Therapeutics in August 2020, and was later appointed Executive Vice President, Chief Strategy Officer in December 2020.
  • Ms. Broidrick has over 26 years experience in the biopharmaceutical industry in a variety of functions and increasing responsibility.
  • Before that, she was Vice President, Head of Global Marketing Excellence and Business Innovation with EMD Serono (part of Merck KGaA).