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Tag: Qualigen Therapeutics

  • 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.

  • 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.

  • Qualigen Therapeutics, Inc. (QLGN) fell in the after-hours trading session; here’s why

    Qualigen Therapeutics, Inc. (QLGN) fell in the after-hours trading session; here’s why

    QLGN stock had plunged -18.08% to trade at $2.13 in the after-market at the time of writing. QLGN stock closed the Friday trading session at $2.60 which was 0.76% lower. The volume of trade was 0.48 million shares which was lower than the average daily volume of 1.49 million for the past 50 days.

    What is recent activity of QLGN stock

    The biotech company has been operationally active in the month of March through engaging in conferences, making administrative changes and advances, as well as the acquisition of new biotech technologies.

    On March 9th, the QLGN stock announced that it has a newly gained Chief Financial Officer for Qualigen’s corporate headquarters in Carlsbad, California. The company promoted ShishirSinha to CFO who has been valuable to the company for the past 15 years.

    The company also took part in the presentation at the Oppenheimer 31st Annual Healthcare Conference from 16-18th March. The conference would provide investors a broad spectrum of all the public and private healthcare companies in the health industries of various specialties and niches.

    On 1st March, QLGN announced that it was looking into an entered agreement known as Material Evaluation and Option Agreement with the University College of London. The agreement purpose is to seek options of advancing the commercial expansion of drug candidate ALAN AS1411-GNP. The agreement is known as Material Evaluation and Option Agreement.

    Core operational focus of QLGN stock

    Currently, Qualigen Therapeutics is focusing on maintaining and expanding its core FastPack® system that has been approved by the Food and Drug Administration. The system is also ISO-certified and sold across the globe through a commercial partnership with Sekisui Diagnostics, LLC. FastPack® system has helped physicians, medical clinics, and hospitals in providing efficiency in diagnostic procedures. The system comes in the form of diagnostic instruments and test kits. The FastPack System specifically focuses on rapid point-of-care diagnostic tests for cancer, as well as men’s health, hormone functions, and vitamin D status. Since the pandemic has struck, FastPack® also provides quick and efficient diagnostics of anti –bodies against SARS-CoV-2.

    Background into the Company

    Qualigen therapeutics is a biotechnology company based in Carlsbad, California. It aims to focus on the design and production of new therapies that are novel treatment, innovative in nature.  These treatments are specifically being clinically experimented and bio-engineered to focus on cancer and infectious diseases.

    The Qualigen Therapeutic has cancer therapeutics as candidates that are still going through the development stage. The pipeline of QLGN stock includes three candidates which are ALAN (AS1411-GNP), RAS-F and STARSTM.

    ALAN (AS1411-GNP) is a cancer drug candidate that has its DNA coated in gold nanoparticles. The uniqueness of this drug is that in can target numerous cancer types and does it with minimal side effects. The base of the drug is the nucleolin-targeting DNA aptamer. The foundational DNA aptamer is also an experimental candidate that is used for the treatment of viral-based infections as well as COVID-19.

    STARS is also a DNA/RNA based treatment which a device that is also in the candidate stage. The purpose of this device is to remove the targeted tumor and viral compounds in the blood circulation.

    RAS-F belongs to the family of RAS oncongene protein-protein interaction inhibitor small molecules. This family of RAS molecules is used for the prevention of mutated RAS genes’ proteins from binding in their effector proteins. Prevention of this binding allows for the stoppage of tumor growth process. This is effective especially in the lung cancer, pancreatic and colorectal cancers.