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Tag: Qualigen

  • Qualigen Therapeutics Soars Ahead of Key Developments

    Qualigen Therapeutics Soars Ahead of Key Developments

    Qualigen Therapeutics, Inc. (NASDAQ: QLGN) experienced a significant surge on Wednesday, with its stock rising nearly 6% during regular trading hours. This momentum continued into the afterhours session, where the stock skyrocketed by over 48%, driven by market reactions to its recent earnings report and ongoing developments. This dramatic increase positions Qualigen Therapeutics as a notable player to watch ahead of the 4th of July holiday.

    Qualigen Overview and Recent Performance

    Qualigen Therapeutics is a biotechnology firm dedicated to developing treatments for cancer and infectious diseases. Its cancer therapeutics pipeline features promising candidates such as ALAN (AS1411-GNP), RAS-F3, and STARS. ALAN is a DNA-coated gold nanoparticle drug targeting various cancers with minimal side effects. RAS-F3 aims to inhibit RAS oncogene protein-protein interactions, crucial in preventing tumor formation in cancers like pancreatic, colorectal, and lung.
    Despite the promising pipeline, the company’s financial performance for the recent quarter reported an earnings per share (EPS) of -35 cents, with no revenue recorded. However, it wasn’t the financial results that fueled the afterhours rally. Investors are particularly optimistic about the company’s upcoming developments and the absence of delisting concerns until at least July 16th.

    Market Reactions and Investor Sentiment

    The market’s enthusiasm for Qualigen Therapeutics is not solely based on its earnings report. A significant driver is the upcoming July 16th hearing date, which means the stock won’t face immediate delisting threats. This period of stability has encouraged bullish sentiment, especially with potential tumor treatment news expected soon. The afterhours surge is also attributed to the anticipation of higher trading volumes and prices once the market reopens.

    Investors who missed the afterhours spike are likely to be eager to enter the market during the early trading hours on Friday, from 4 AM to 7 AM. The unusual volume and heightened interest in Qualigen Therapeutics make it a stock worth watching closely, as traders anticipate further gains driven by speculative buying and potential positive news.

    Conclusion

    Qualigen Therapeutics’ impressive afterhours performance highlights the market’s anticipation of key developments and stability in its stock status. With potential tumor treatment news and no immediate delisting concerns, the company has captured significant investor attention. As trading resumes, the focus will be on how these factors influence the stock’s trajectory, making Qualigen Therapeutics a compelling story in the biotech sector.

  • Here’s the Reason Why Qualigen, Inc. (QLGN) Stock is on a Boom

    Here’s the Reason Why Qualigen, Inc. (QLGN) Stock is on a Boom

    Qualigen, Inc. (QLGN), a biotechnology company, has soared 108.80% in aftermarket trading session. Consequently, QLGN stock is trading at $2.61 at the time of the writing. On Monday, QLGN closed the day at $1.25 after surging 25.62% during regular trading hours. The constant surge could be attributed to the strong quarterly results.

    Why QLGN Surging?

    On 15th November, QLGN released the financial results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company generated total revenue of $1.15 million during the quarter against $0.83 million for the same period of 2020. The total expenses bore by the company during the three months were $5.96 million against $4.55 million for the same period of 2020. The net loss suffered by the company during the period was $2.85 million (or $0.10 per basic and diluted share) against $8.11 million (or $0.41 per basic and diluted share) for the same period of 2020. The company had cash and cash equivalents of $12.31 million on 30th September 2021.

    Executive Commentary

    Michael S. Poirier, QLGN Chairman, CEO, and President, while commenting on the results said that the company is encouraged by what it believes to be a strong quarter, as there was a 38% year-over-year increase in revenue. He further said that the company would continue to be encouraged by this increase. He hoped that the developments in the therapeutics business would start paying the company more dividends in long run soon.

    Publication Validating FastPack® IP Diagnostics Test

    On 19th October, QLGN announced the publication of a study in the peer-reviewed journal, by the name of Diagnostics. The publication validated the Company’s point of care FastPack® IP diagnostics test as compared to a laboratory method that determined thyroid-stimulating hormone (TSH) levels in the blood. The study provided validation behind the evidence which supported the reliability of FastPack compared to laboratory tests.

    Future Outlook for QLGN

    Statistics reveal that during the last 12 months, QLGN stock has declined more than 50%. But keeping in view the more recent times, it appears that that stock is leaping forward, even though slowly. Analysts believe that QLGN stock’s recent performance could impart a significant influence upon potential investors to make investments in Qualigen.

  • Qualigen Therapeutics, Inc. (QLGN) Stock on the Rise Following IND Submission for Novel Covid-19 Treatment, QN-165

    Qualigen Therapeutics, Inc. (QLGN) stock prices were up 1.6854% as of the market opening on July 14th, 2021, with premarket trading having seen the stock rise sharply. As of writing, the price per share of QLGN stock was USD$1.81.

    IND Submission

    July 14th, 2021 saw the biotechnology company announce the submission of an Investigational New Drug Application to the U.S Food and Drug Administration with an initial target indication for the treatment of hospitalized Covid-19 patients with the company’s QN-165. The DNA aptamer is a broad-based antiviral drug candidate that has shown antiviral activity in various in vitro assays against a plethora of viruses.

    Milestone for QLGN

    The significant milestone is the first IND application submitted by the company for its most advanced therapeutics program. The IND application submission for Phase 1b/2a clinical trials for QN-165 represents another step in the company’s evolution from a globally patented and commercially successful diagnostics company to a clinical-stage therapeutics company with multiple programs.

    QN-165

    QN-165 is a unique drug candidate that presents an entirely novel approach to combating viruses, which the company thinks it will be able to work against all virus strains and variants. The treatment is a piece of synthetic DNA that does not target the coronavirus directly, as existing treatments do. Rather, it targets and binds to the nucleolin protein and has the capacity to enter cells that overexpress nucleolin. Nucleolin is exploited by viruses such as Covid-19 to gain access to a cell, manipulating it for its own viral replication purposes.

    Scope of QN-165

    By tying up nucleolin, QN-165 is anticipated to block the mechanism entirely, thus preventing the virus replication process. Because of this, even the mutation of the virus is not expected to result in a loss of efficacy of the treatment, on account of nucleolin being targeted instead of the virus itself. This is what the company believes will make the treatment effective against a plethora of viral mutations, including all strains and variants of the novel coronavirus.

    Future Outlook for QLGN

    With the world hurtling towards global immunizations, the onslaught of variants and strains that pop up across the globe are becoming an increasingly significant concern. Treatments such as QN-165 are set to address those concerns, thereby signaling the massive potential for commercialization and proliferation of the expansive market. Investors are hopeful that management will leverage its resources to deliver the treatment as quickly as possible, thus ensuring maximum increases in shareholder value.