Core Viewpoint - Qualigen Therapeutics, Inc. will implement a 1-for-50 reverse stock split effective November 5, 2024, to increase the bid price of its common stock and regain compliance with Nasdaq listing requirements [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert every 50 shares of pre-split common stock into one new share, reducing the number of outstanding shares from approximately 36.7 million to about 737 thousand [3]. - The number of authorized shares will remain unchanged, and stockholders entitled to fractional shares will receive cash in lieu of those shares [3][4]. - The reverse stock split will not affect the par value of the common stock [3]. Group 2: Compliance and Authorization - The reverse stock split was authorized by stockholders at the annual meeting held on October 25, 2024, with the final ratio determined by the Board of Directors [2]. - The action is intended to help the company meet the minimum bid price requirement for continued listing on The Nasdaq Capital Market [2]. Group 3: Administrative Process - The company's transfer agent, Equiniti Trust Company, LLC, will act as the exchange agent and notify stockholders of their new share count post-split [4]. - Stockholders holding shares through brokers or other nominees will have their positions adjusted automatically [4].

Core Insights - Qualigen Therapeutics, Inc. announced the immediate resignations of CEO Michael Poirier and CFO Christopher Lotz due to disagreements over the company's future direction and strategic initiatives [1] - The board appointed Campbell Becher as President and Kevin Richardson as Interim CEO and CFO, indicating a shift in leadership aimed at enhancing shareholder value [2][3] Leadership Changes - Michael Poirier resigned as CEO and Chairman, effective immediately, along with CFO Christopher Lotz, both citing disagreements with the company's strategic direction [1] - Campbell Becher was appointed as President of the company on September 25, 2024, effective immediately [2] - Kevin Richardson was appointed as Interim CEO and CFO, bringing extensive experience in leading strategic initiatives in small cap companies [3] Future Outlook - Both new leaders, Richardson and Becher, expressed enthusiasm for the company's future and potential opportunities, indicating a proactive approach to upcoming strategic initiatives [3][4]

Core Viewpoint - Univest Securities, LLC has successfully closed a registered direct offering for Qualigen Therapeutics, Inc., raising approximately $3.46 million through the sale of common stock and pre-funded warrants [1][3]. Group 1: Offering Details - The offering consists of 14,724,058 shares of common stock priced at $0.130 per share, along with pre-funded warrants exercisable for 11,972,754 shares [1][2]. - The purchase price for each pre-funded warrant is set at $0.129 per share, with an exercise price of $0.001 per share [2]. Group 2: Financial Proceeds - The total gross proceeds from the offering amount to approximately $3.46 million [3]. Group 3: Regulatory Compliance - The offering was conducted under a shelf registration statement on Form S-1, which was originally filed with the SEC on June 13, 2023, and became effective on September 4, 2024 [4]. Group 4: Company Background - Qualigen Therapeutics, Inc. is a clinical-stage therapeutics company focused on developing treatments for adult and pediatric cancer, with investigational compounds targeting cancer cell proliferation [7].

Core Viewpoint - Qualigen Therapeutics, Inc. has successfully closed a public offering of common stock and pre-funded warrants, raising approximately $3.47 million for various corporate purposes [1][3]. Group 1: Offering Details - The company offered 14,724,058 shares of common stock at a price of $0.13 per share and pre-funded warrants to purchase up to 11,972,754 shares at a price of $0.129 per share [1]. - The pre-funded warrants are exercisable upon issuance and will remain exercisable until fully exercised [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for operations and general corporate purposes, including: - Accelerated payment of a $2 million Senior Note issued in July 2024 [3]. - Advancement of clinical trials and preclinical studies [3]. - General working capital [3]. - Possible expansion of the relationship with Marizyme, Inc. under a Co-Development Agreement [3]. - Potential future acquisitions [3]. Group 3: Regulatory Information - The securities were offered under a registration statement on Form S-1, which became effective on September 4, 2024 [4]. - The offering was conducted only by means of a prospectus that is part of the effective registration statement [4].

CARLSBAD, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Qualigen Therapeutics, Inc. (NASDAQ: QLGN) (the "Company") today announced the pricing of a public offering of 14,724,058 shares of common stock, par value $0.001 per share (each a "Share," and collectively, the "Shares") at a public offering price of $0.13 per Share and pre-funded warrants to purchase up to 11,972,754 Shares at a price of $0.129 per prefunded warrant with an exercise price of $0.001 per share (the "Pre-Funded Warrants"). The Pre-Funded W ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Qualigen Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37428 26-3474527 (State or other jurisdicti ...

Stock Performance - Qualigen Therapeutics (QLGN) stock experienced a significant rally on Friday, with shares soaring more than 59% during normal trading hours [1] - The trading volume on Friday reached 244 million shares, a massive increase compared to its daily average trading volume of about 5.4 million shares [1] - On Monday morning, QLGN stock saw a 12% drop, with only about 1.4 million shares traded as of the writing [2] Market Activity and Speculation - There was no specific news, press releases, SEC filings, or analyst coverage that could explain the sudden surge in QLGN stock on Friday [3] - QLGN is considered a penny stock, which is subject to high volatility, often driven by speculative trading or retail and day traders [4] Industry Context - The article mentions other stocks such as China Liberal Education (CLEU), Shapeways (SHPW), and Inspire Veterinary (IVP) as part of the broader stock market news on Monday [5] - InvestorPlace generally avoids publishing commentary on companies with a market cap of less than $100 million or those trading less than 100,000 shares daily, due to the high risk of market manipulation associated with penny stocks [5]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $.001 per share QLGN The Nasdaq Capital Market of The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(b) of the Act: The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. FORM 10-Q For the quarterly period ended March 31, 2024 For the transition ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37428 Qualigen Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 26-3474527 (State or other jurisdiction of incorporation or organization) (I.R.S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Qualigen Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37428 26-3474527 (State or other juris ...