Qualigen Therapeutics

Qualigen Therapeutics announced a strategic partnership with BitGo to implement a crypto-treasury strategy and diversify corporate reserves. The company plans a multi-asset allocation of $30 million into a market-cap-weighted basket of the top ten cryptocurrencies (excluding stablecoins), secured in BitGo's regulated cold storage; BitGo's OTC desk will handle execution. » More on de.investing.com

Qualigen Therapeutics has appointed Kevin Chen as an independent member of its board; Chen is chief economist and CIO at Horizon Financial and has long experience in asset management and supervisory boards. The appointment comes against a backdrop of volatile share performance (price $5.06) and a stock that InvestingPro currently rates as overvalued, with a market capitalization of around $8.6 million and ongoing profitability problems. Qualigen recently raised $4.5 million in a private placement, received a strategic investment from Faraday Future of about $30 million, and reported patent protection for its cancer drug QN-302 in 25 countries through 2040. » More on de.investing.com

Qualigen Therapeutics has regained compliance with NASDAQ's equity requirements by raising $4.5 million through a private placement and has taken steps to maintain its stock market listing. The company also secured patents for its cancer drug QN-302 in 25 countries and appointed Robert B. Lim as the new chair of the audit committee. Despite these advances, the risk of delisting persists as the company continues to face challenges in meeting NASDAQ rules. » More on de.investing.com