Qualigen Therapeutics provides update on Nasdaq listing status

Qualigen Therapeutics (QLGN) received two different communications from the staff of the Nasdaq Listing Qualifications office of the Nasdaq Stock Market. The company received the first notice on July 23 informing the company that it failed to comply with the $2.5M stockholder’s equity. On June 24, the company received a second communication confirming that Nasdaq had reviewed and accepted the company’s request for an extension with respect to three specific items. First, Nasdaq confirmed that the company filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025, by July 21. Second, the company was required to regain compliance with the minimum stockholders’ equity requirement by July 28 – which it has achieved through the successful closing of a $4.5M private placement of Series A-3 Preferred Stock. Third, Nasdaq has received a plan to maintain compliance with all applicable continued listing standards – , including the company’s plan to maintain compliance with the stockholders’ equity requirement over the next 12 months. The company will continue to take all necessary actions to maintain its current Nasdaq listing.