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QLGN

Qualigen Therapeutics, Inc.

QLGN

Qualigen Therapeutics, Inc. • NASDAQ
$3.21 ▲ 5.59% (+0.17)
Market Cap $5.43 M
52w High $8.81
52w Low $1.61
Dividend Yield 0%
P/E 1.13
Volume 368.77K
Outstanding Shares 1.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.43M ▼ $-2.038M ▼ 0% $-1.73 ▼ $-1.582M ▼
Q2-2025 $0 $1.684M ▼ $-1.685M ▲ 0% $-1 ▲ $-1.579M ▲
Q1-2025 $0 $2.725M ▲ $-2.646M ▼ 0% $-1.82 ▼ $-2.573M ▼
Q4-2024 $0 $1.333M ▲ $-855.823K ▲ 0% $-0.19 ▲ $-749.827K ▲
Q3-2024 $0 $1.269M $-1.794M 0% $-0.4 $-1.388M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $38.777M ▲ $43.47M ▲ $4.923M ▼ $38.547M ▲
Q2-2025 $331.601K ▲ $3.963M ▲ $5.615M ▲ $-1.652M ▼
Q1-2025 $30.21K ▼ $2.848M ▼ $2.814M ▲ $33.134K ▼
Q4-2024 $1.175M ▲ $4.687M ▲ $2.007M ▼ $2.679M ▲
Q3-2024 $388.152K $2.313M $4.454M $-2.141M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.038M ▼ $-2.141M ▼ $-291K ▲ $40.878M ▲ $38.446M ▲ $-2.141M ▼
Q2-2025 $-1.685M ▲ $-1.098M ▲ $-1.214M ▼ $2.613M ▲ $301.391K ▲ $-1.098M ▲
Q1-2025 $-2.646M ▼ $-1.589M ▲ $-305K ▲ $750K ▼ $-1.144M ▼ $-1.589M ▲
Q4-2024 $-855.823K ▲ $-2.27M ▼ $-1.007M ▲ $4.063M ▲ $786.456K ▲ $-2.27M ▼
Q3-2024 $-1.794M $-1.8M $-1.25M $3.319M $269.467K $-1.8M

Revenue by Products

Product Q3-2021Q4-2021Q1-2022Q1-2023
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Net Product Sales
Net Product Sales
 $0 ▲$0 ▲$0 ▲$0 ▲
License Revenue
License Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, Qualigen has essentially had no recurring product revenue and has operated as a development-stage company. The income statement is driven almost entirely by research and corporate costs, resulting in steady operating and net losses each year. Per‑share losses have been large and persistent, reflecting frequent share consolidations and a small equity base. Overall, the business is still firmly in the “spending to develop” phase rather than the “earning from products” phase.

Balance Sheet

Balance Sheet The balance sheet has been very lean, with only modest levels of total assets and cash and no meaningful debt reported in the historical period. Equity has been thin and appears to have trended down over time, consistent with ongoing losses and dilution. Multiple reverse stock splits over the years highlight how much the share count and capital structure have been reshaped to stay compliant and to raise funds. While later private financings and strategic investments have brought in new capital, the company’s balance sheet remains that of a small, high‑risk, early‑stage biotech pivoting toward a new model.

Cash Flow

Cash Flow Qualigen has consistently used cash in its operations, with negative operating and free cash flow every year shown. Cash outflows are driven by R&D and overhead rather than capital spending, since the company has not been investing heavily in physical assets. This pattern means the business depends on external funding—equity raises, strategic investments, or other financings—to continue its programs. The lack of internally generated cash reinforces that success hinges on future milestones rather than current operations.

Competitive Edge

Competitive Edge In oncology, Qualigen occupies a narrow but potentially important niche, focusing on G‑quadruplex targeting and pan‑RAS inhibition, both areas with high scientific interest but intense competition and significant technical risk. The company has some protections via patents and an orphan designation, and early clinical work places it among a small group exploring these mechanisms. However, it competes against better-funded biotech and pharma players in crowded cancer markets, so its bargaining power and visibility remain limited. The planned expansion into crypto and Web3 creates a very unusual competitive profile: it may differentiate the story, but it also inserts the firm into another fiercely competitive and volatile space where it has no established track record.

Innovation and R&D

Innovation and R&D R&D is the core of the legacy business, centered on QN‑302 (a first‑in‑class G‑quadruplex stabilizer) and a broad pan‑RAS inhibitor platform, both of which are scientifically ambitious and still early in their development paths. The orphan designation, multi‑country patents, and early clinical and preclinical signals point to genuine innovation, but they also come with the long timelines and high failure rates typical of oncology drug development. At the same time, management is investing in a new frontier—AI‑driven crypto trading tools, a digital asset treasury, and stablecoin concepts—representing a second line of “innovation” that is more financial and technological than biomedical. This dual-track R&D strategy is bold but also stretches focus across two very different regulatory and technical domains.

Summary

Qualigen is transforming from a small, cash-burning oncology developer into a hybrid biotech–crypto company with a highly experimental business model. Historically, its financials show almost no revenue, ongoing losses, thin assets, and reliance on external capital, underscoring high financial and execution risk. Scientifically, the cancer pipeline targets difficult but potentially impactful mechanisms, supported by IP and early clinical activity, yet still far from commercialization. The crypto and Web3 pivot introduces a second, unrelated source of potential upside but also layers on additional volatility, regulatory uncertainty, and strategic complexity. Overall, this is a story driven by future milestones and successful execution on two risky fronts rather than by current financial strength or established commercial products.

NEWS

November 16, 2025 · 4:10 PM UTC

Qualigen Therapeutics Stockholders Approve All Proposals with Majority Vote; Company to Rebrand as AIxCrypto Holdings, Inc. (Nasdaq: AIXC) Following November 20 Nasdaq Ceremony and Announces Transition into AI × Web3 Strategy

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October 27, 2025 · 11:57 PM UTC

Qualigen Therapeutics to Rebrand as AIxCrypto After Stockholder Meeting on November 12, with Three Core Goals for 2025

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October 23, 2025 · 4:05 PM UTC

Qualigen Therapeutics Partners with BitGo to Execute First Multi-Asset C10 Treasury Allocation

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October 12, 2025 · 9:00 PM UTC

Qualigen Therapeutics Announces the Official Launch of C10 Cryptocurrency Asset Treasury (DAT) Purchases: Why Is This Pullback the Golden Moment CXC10 Has Been Waiting For?

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October 6, 2025 · 7:00 PM UTC

Qualigen Therapeutics (NASDAQ: QLGN) Announces Executives, Board of Directors Appointments and Auditor Transition

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