Qualigen Therapeutics(US:QLGN) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-22 08:53Core Viewpoint - Qualigen Therapeutics has entered into a PIPE agreement with Faraday Future, involving a $41 million investment focused on cryptocurrency and Web3 business planning [2][4] Group 1: Investment Details - The financing amount is approximately $41 million, led by Faraday Future and its CEO Jia Yueting, with participation from other investors including the SIGN Foundation [2] - Faraday Future will invest about $30 million in Qualigen at a price of $2.246 per share, acquiring approximately 55% of the common stock [2] - Jia Yueting plans to invest around $4 million personally, corresponding to about 7% of Qualigen's common stock [2] Group 2: Strategic Shift - Following the investment, Qualigen is expected to rebrand as CXC10 and shift its focus towards cryptocurrency and Web3, moving away from its current biopharmaceutical operations [4] - The new business model will emphasize a "three-horsepower" strategy involving Crypto, a decentralized AI trading exchange, and a value stabilizer [4] - After the investment, Faraday Future and Jia Yueting will collectively hold 62% of Qualigen's shares, with plans for management involvement [4] Group 3: Company Background and Challenges - Qualigen has faced significant challenges, including a risk of delisting from NASDAQ due to stock price issues, with a recent notification received for failing to meet minimum price requirements [6][7] - The company has experienced leadership changes, with recent resignations of key executives due to strategic disagreements [6][7] - Qualigen's core product pipeline is focused on rare cancer treatments, but progress has been slow, with key projects still in early development stages [7][8]