Qualigen Therapeutics Updates on Nasdaq Communications and Listing Status

Qualigen Therapeutics received two communications from Nasdaq regarding continued listing status. The company failed to meet the $2.5 million stockholder's equity requirement under Nasdaq Rule 5550(b)(1) but has since regained compliance through a $4.5 million private placement of Series A-3 Preferred Stock. Nasdaq acknowledged the company's plan to maintain compliance with all applicable continued listing standards. The company will file a Current Report on Form 8-K with the SEC to reflect the stockholders' equity in compliance with the applicable requirements.

Qualigen Therapeutics, Inc. (QLGN) has successfully regained compliance with Nasdaq's continued listing standards following a $4.5 million private placement of Series A-3 Preferred Stock. The company had previously fallen short of the $2.5 million stockholder's equity requirement under Nasdaq Rule 5550(b)(1). However, through this latest private placement, the company has now met the necessary threshold.

On July 28, 2025, Qualigen Therapeutics issued and sold 4,500 shares of its Series A-3 Preferred Stock at a purchase price of $1,000 per share, raising approximately $4.5 million. The company intends to use these funds for working capital purposes and may allocate up to $500,000 for payment to an investor relations agency. The private placement closed on July 28, 2025, and the company has filed a Current Report on Form 8-K with the SEC to reflect the updated stockholders' equity [1].

Nasdaq has acknowledged Qualigen Therapeutics' plan to maintain compliance with all applicable continued listing standards. The company will continue to file periodic reports to ensure ongoing compliance with Nasdaq's requirements.

References:
[1] https://www.sec.gov/Archives/edgar/data/0001460702/000164117225021174/form8-k.htm