Qualigen Therapeutics Provides Update on Nasdaq Communications and Continued Listing Status

Core Viewpoint - Qualigen Therapeutics, Inc. has received communications from Nasdaq regarding its compliance with listing requirements, specifically related to stockholder's equity, and has taken steps to regain compliance through a private placement of Series A-3 Preferred Stock [1][2]. Group 1: Nasdaq Compliance - The company was notified on July 23, 2025, that it failed to meet the $2.5 million stockholder's equity requirement as per Nasdaq Rule 5550(b)(1) [1]. - Following this, the company successfully closed a $4.5 million private placement of Series A-3 Preferred Stock, which allowed it to regain compliance with the minimum stockholders' equity requirement by July 28, 2025 [2]. - Nasdaq acknowledged receipt of the company's plan to maintain compliance with all applicable continued listing standards over the next 12 months [2]. Group 2: Financial Reporting - The company filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025, by the required deadline of July 21, 2025 [2]. - A Current Report on Form 8-K will be filed later, including a pro forma balance sheet reflecting stockholders' equity in compliance with applicable requirements [4]. Group 3: Company Overview - Qualigen Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing novel therapeutics for cancer and infectious diseases [5]. - The company's pipeline includes QN-302, a selective G-quadruplex inhibitor for various tumor types, and QN-247, a nucleolin-targeting compound for hematologic malignancies, among others [5].