PART I. Financial Information [Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The company presents its unaudited financial statements for the nine months ended September 30, 2024, reflecting a reduced net loss, significant financing, and the impact of discontinued operations [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $2.31 million and total liabilities rose to $4.45 million, resulting in a stockholders' deficit of $2.14 million as of September 30, 2024 Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $388,152 | $401,803 | | Total current assets | $2,312,994 | $1,166,767 | | **Total Assets** | **$2,312,994** | **$2,033,248** | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $4,453,845 | $4,136,805 | | Convertible debt | $1,090,002 | $0 | | Total Stockholders' Deficit | $(2,140,851) | $(2,103,557) | | **Total Liabilities & Stockholders' Deficit** | **$2,312,994** | **$2,033,248** | [Condensed Consolidated Statements of Operations and Other Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Other%20Comprehensive%20Loss) The company's net loss improved to $5.40 million for the nine months ended September 30, 2024, driven by significantly lower operating expenses Statement of Operations Summary (Nine Months Ended Sep 30) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Total expenses | $4,428,676 | $9,030,895 | | Loss from operations | $(4,428,676) | $(9,030,895) | | Net loss from continuing operations | $(5,303,368) | $(10,007,448) | | Net loss | $(5,403,368) | $(11,310,001) | | Net loss per common share, basic and diluted | $(24.93) | $(109.19) | [Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20(Deficit)) The stockholders' deficit increased slightly to $2.14 million, as the net loss was largely offset by capital raised from financing activities - The company's equity position was impacted by a **net loss of $5.4 million** for the nine months ended September 30, 2024[10](index=10&type=chunk) - Financing activities that increased additional paid-in capital included a **public offering ($3.05 million)**, monthly redemptions and voluntary conversions of convertible debt, and warrant exercises[10](index=10&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $4.06 million, offset by $4.94 million generated from financing, resulting in a slight decrease in the cash balance Cash Flow Summary (Nine Months Ended Sep 30) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(4,057,980) | $(4,632,677) | | Net cash provided by (used in) investing activities | $(900,000) | $3,980,541 | | Net cash provided by (used in) financing activities | $4,944,329 | $(440,000) | | Net change in cash and cash equivalents | $(13,651) | $(1,092,136) | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a reverse stock split, discontinued operations, going concern doubts, significant financing activities, and a new co-development agreement - A **1-for-50 Reverse Stock Split** of the company's common stock became effective on November 5, 2024, with all share and per-share data retroactively adjusted[15](index=15&type=chunk)[149](index=149&type=chunk) - The company has **substantial doubt about its ability to continue as a going concern**, as cash balances are only expected to fund operations through Q4 2024 without additional financing[48](index=48&type=chunk) - In July 2023, the company sold its subsidiary Qualigen, Inc and deconsolidated NanoSynex, both now classified as **discontinued operations**[20](index=20&type=chunk)[21](index=21&type=chunk) - The company advanced **$1.25 million to Marizyme, Inc** via a demand promissory note bearing 18% interest as part of a co-development agreement[52](index=52&type=chunk)[114](index=114&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses its strategic focus, reduced operating expenses, and severe liquidity challenges that raise substantial doubt about its going concern status [Overview](index=27&type=section&id=Overview) The company is an early-clinical-stage firm focused on cancer therapeutics, with its lead assets being the QN-302 and Pan-RAS programs - The company's lead program, **QN-302**, is an investigational small molecule G4-selective transcription inhibitor currently in a Phase 1a clinical trial[158](index=158&type=chunk) - The **Pan-RAS program** is a preclinical portfolio of small molecules designed to inhibit mutated RAS oncogene protein-protein interactions[159](index=159&type=chunk) - A co-development agreement with Marizyme entitles Qualigen to a **33% royalty on net sales of DuraGraft**, capped at double the funding provided by Qualigen[161](index=161&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Operating expenses for the nine-month period decreased by 51% year-over-year, leading to an improved net loss from continuing operations of $5.3 million Operating Expense Comparison (Nine Months Ended Sep 30) | Expense Category | 2024 | 2023 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | General and administrative | $3,186,575 | $5,132,834 | $(1,946,259) | -38% | | Research and development | $1,242,101 | $3,898,061 | $(2,655,960) | -68% | | **Total expenses** | **$4,428,676** | **$9,030,895** | **$(4,602,219)** | **-51%** | - The decrease in G&A expenses was primarily due to reductions in **stock-based compensation ($0.8M)**, payroll ($0.7M), and professional fees ($0.5M)[181](index=181&type=chunk) - The decrease in R&D expenses was mainly due to reduced costs for the **QN-302 program ($2.0M)** and the RAS program ($0.8M)[182](index=182&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) The company's critical liquidity position raises substantial going concern doubts, despite recent financing efforts, and it faces a Nasdaq delisting risk - The company's cash balance of approximately $388,000 is only expected to fund operations into Q4 2024, raising **substantial doubt about its ability to continue as a going concern**[192](index=192&type=chunk)[193](index=193&type=chunk) - In the first nine months of 2024, the company raised approximately **$1.5 million from convertible debt** and net proceeds of approximately **$3.1 million from a public offering**[49](index=49&type=chunk)[195](index=195&type=chunk) - The company received a Nasdaq Panel decision granting an extension until **November 19, 2024, to regain compliance** with listing requirements, after which it may be delisted[200](index=200&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exempt from market risk disclosures as it qualifies as a smaller reporting company - The company is a **smaller reporting company** as defined by Rule 12b-2 of the Exchange Act and is not required to provide this information[222](index=222&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective due to unremediated material weaknesses in internal controls - Management concluded that **disclosure controls and procedures were not effective** as of September 30, 2024[224](index=224&type=chunk) - The ineffectiveness is due to **material weaknesses** related to an insufficient number of accounting personnel to segregate duties and a lack of effective Information Technology General Controls (ITGC)[225](index=225&type=chunk) - No changes were made to internal controls during the third quarter of 2024, and the company foresees the **weaknesses will not be remediated** until additional funding is secured[225](index=225&type=chunk)[226](index=226&type=chunk) PART II. Other Information [Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings - As of the report date, the company is **not currently involved in any legal matters** that could be reasonably expected to have a material effect on its operations[101](index=101&type=chunk)[228](index=228&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors disclosed in the 2023 Annual Report - There have been **no material changes** to the Company's risk factors since the 2023 Annual Report[229](index=229&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued 64,312 unregistered common shares related to the conversion of a 2022 convertible debenture - During the nine months ended September 30, 2024, the company issued **64,312 shares of unregistered common stock** to Alpha Capital Anstalt for monthly redemptions and voluntary conversions of its 2022 Debenture[230](index=230&type=chunk) [Defaults Upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - None reported[230](index=230&type=chunk) [Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not Applicable[230](index=230&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) No other information was reported for the period - None[230](index=230&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the report, including financing agreements and required officer certifications - The report includes numerous exhibits detailing recent financing activities, such as the **Form of Pre-Funded Warrant, Placement Agent Warrant, and Securities Purchase Agreements**[233](index=233&type=chunk) - **Certifications from the principal executive officer and principal financial officer** pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are filed with the report[234](index=234&type=chunk)[235](index=235&type=chunk)

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 ...

PART I. Financial Information [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Unaudited Q2 2024 financials show decreased assets, increased liabilities, reduced net loss, and significant going concern doubts [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets declined to **$0.53 million**, liabilities rose to **$4.81 million**, worsening the stockholders' deficit Condensed Consolidated Balance Sheet Highlights (Unaudited) | Balance Sheet Item | June 30, 2024 (USD) | December 31, 2023 (USD) | | :--- | :--- | :--- | | **Assets** | | | | Cash | $118,685 | $401,803 | | Total Current Assets | $534,410 | $1,166,767 | | **Total Assets** | **$534,410** | **$2,033,248** | | **Liabilities & Stockholders' Deficit** | | | | Total Current Liabilities | $4,812,273 | $4,136,805 | | Total Stockholders' Deficit | $(4,277,863) | $(2,103,557) | | **Total Liabilities & Stockholders' Deficit** | **$534,410** | **$2,033,248** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net loss from continuing operations improved for both three and six-month periods due to reduced operating expenses Statement of Operations Summary - Three Months Ended June 30 | Metric | 2024 (USD) | 2023 (USD) | Change (%) | | :--- | :--- | :--- | :--- | | Total Expenses | $1,740,771 | $3,601,712 | -51.7% | | Loss from Operations | $(1,740,771) | $(3,601,712) | +51.7% | | Net Loss from Continuing Operations | $(1,476,558) | $(3,537,361) | +58.3% | | Net Loss Attributable to Qualigen | $(1,576,558) | $(3,464,205) | +54.5% | | Net Loss Per Share (basic and diluted) | $(0.21) | $(0.69) | +69.6% | Statement of Operations Summary - Six Months Ended June 30 | Metric | 2024 (USD) | 2023 (USD) | Change (%) | | :--- | :--- | :--- | :--- | | Total Expenses | $3,166,091 | $6,252,531 | -49.4% | | Loss from Operations | $(3,166,091) | $(6,252,531) | +49.4% | | Net Loss from Continuing Operations | $(3,509,309) | $(6,772,423) | +48.2% | | Net Loss Attributable to Qualigen | $(3,669,326) | $(7,310,426) | +49.8% | | Net Loss Per Share (basic and diluted) | $(0.54) | $(1.46) | +63.0% | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash outflow reduced, with **$1.63 million** from financing, leading to a **$(0.28) million** net cash decrease Cash Flow Summary - Six Months Ended June 30 | Cash Flow Activity | 2024 (USD) | 2023 (USD) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | $(2,258,118) | $(5,562,416) | | Net Cash Provided by (Used in) Investing Activities | $350,000 | $(246,418) | | Net Cash Provided by Financing Activities | $1,625,000 | $0 | | **Net Change in Cash** | **$(283,118)** | **$(5,808,834)** | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail discontinued operations, substantial going concern doubt, and subsequent financing and Nasdaq compliance updates - The company has substantial doubt about its ability to continue as a going concern. Cash on hand as of June 30, 2024, was approximately **$119,000**, which is expected to fund operations only into the fourth quarter of 2024[28](index=28&type=chunk) - The sale of Qualigen, Inc. and the deconsolidation of NanoSynex in July 2023 are classified as discontinued operations. In Q2 2024, the company recognized a **$100,000** loss on disposal related to an early settlement of an escrow account from the Qualigen, Inc. sale[11](index=11&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) - Subsequent to the quarter's end, the company raised **$2.0 million** through an 18% senior note, saw the full conversion of its 2022 convertible debenture, and received an extension from a Nasdaq Hearings Panel until October 31, 2024, to regain compliance with listing requirements[75](index=75&type=chunk)[76](index=76&type=chunk)[78](index=78&type=chunk) - In April 2024, the company entered into a Co-Development Agreement with Marizyme, paying a **$200,000** Exclusivity Fee and a **$500,000** Funding Payment to support the commercialization of DuraGraft™, in return for a 33% royalty-like payment on net sales, capped at double the funding provided[56](index=56&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strategic shift to therapeutics, reduced expenses, critical liquidity, and efforts to address going concern doubts [Overview and Recent Developments](index=28&type=section&id=Overview%20and%20Recent%20Developments) The company transitioned to an early-clinical-stage therapeutics focus, with lead program QN-302 in Phase 1a, and divested diagnostics - The company is now an early-clinical-stage therapeutics company focused on developing treatments for adult and pediatric cancer[82](index=82&type=chunk) - The lead program, QN-302, is in a Phase 1a clinical trial after receiving FDA clearance for its IND application in August 2023. The first patient was dosed in November 2023[82](index=82&type=chunk)[83](index=83&type=chunk) - The diagnostics business (Qualigen, Inc.) was sold to Chembio Diagnostics, Inc. in July 2023, with a final escrow settlement in June 2024[84](index=84&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Operating expenses significantly decreased for both periods, with G&A down **46%** and R&D down **54%** due to restructuring Operating Expense Comparison - Six Months Ended June 30 | Expense Category | 2024 (Millions USD) | 2023 (Millions USD) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | General and Administrative | $2.0M | $3.8M | -46% | Decreases in stock-based compensation, professional fees, and payroll | | Research and Development | $1.1M | $2.5M | -54% | Decreased QN-302 and RAS program costs, partially offset by new Marizyme agreement expenses | - Other income/expense was significantly impacted by non-cash gains on the change in fair value of warrant and derivative liabilities, totaling approximately **$0.6 million** for the first six months of 2024[99](index=99&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) Severe liquidity crisis with **$119,000** cash, raising going concern doubts, partially mitigated by recent and subsequent financing - The company's cash balance of **~$119,000** as of June 30, 2024, is expected to fund operations only into Q4 2024, raising substantial doubt about its ability to continue as a going concern[102](index=102&type=chunk) - In H1 2024, the company raised **~$1.5 million** through the issuance of convertible debentures to Alpha Capital Anstalt and Yi Hua Chen[102](index=102&type=chunk) - Subsequent to the quarter, the company secured **$2.0 million** in funding through an 18% senior note issued to an institutional investor in July 2024[102](index=102&type=chunk) - A Nasdaq Hearings Panel granted the company an extension until October 31, 2024, to regain compliance with the minimum bid price and stockholders' equity listing requirements[78](index=78&type=chunk)[102](index=102&type=chunk) [Item 4. Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were ineffective as of June 30, 2024, due to unremediated material weaknesses - Management concluded that disclosure controls and procedures were not effective as of June 30, 2024[114](index=114&type=chunk) - The ineffectiveness is due to unremediated material weaknesses, including a lack of sufficient accounting personnel for segregation of duties and inadequate IT General Controls[115](index=115&type=chunk) PART II. Other Information [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) No material legal proceedings are currently pending or threatened against the company as of June 30, 2024 - As of June 30, 2024, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the company's operations[52](index=52&type=chunk)[117](index=117&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the 2023 Annual Report - There have been no material changes to the company's risk factors since the 2023 Annual Report[118](index=118&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued **1,604,612** unregistered common shares for **$440,000** in convertible debt redemption - In the six months ended June 30, 2024, the company issued **1,604,612** unregistered common shares to Alpha Capital Anstalt for the redemption of convertible debt[119](index=119&type=chunk)

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 ...