Qualigen Therapeutics, Inc. Faces Potential Delisting from Nasdaq Due to Filing Deficiency

Qualigen Therapeutics received a Nasdaq deficiency notice regarding a late Form 10-Q filing, risking its listing status.

Quiver AI Summary

Qualigen Therapeutics, Inc. announced that it received a deficiency notification from Nasdaq regarding the company's failure to file its Quarterly Report on Form 10-Q for the period ending March 31, 2025. This deficiency may lead to the delisting of the company's securities from Nasdaq, as it violates Nasdaq Listing Rule 5250(c)(1). The Nasdaq Hearings Panel will review this issue at a scheduled hearing, where Qualigen plans to present its strategy for regaining compliance. However, there is no guarantee that the Panel will grant an extension or that the company will meet all listing requirements. The company is actively working to complete and file the necessary report as soon as possible.

Potential Positives

• Qualigen Therapeutics intends to present a plan to regain compliance at the upcoming Nasdaq hearings, indicating proactive measures to address the delisting concerns.


• The Company is working diligently to complete and file its overdue Form 10-Q, reflecting a commitment to regulatory compliance.


• The acknowledgment of the deficiency notification allows the Company the opportunity to address the issue with Nasdaq and possibly secure an extension for compliance.


• The press release includes forward-looking statements, indicating the Company's strategic focus on recovery and compliance moving forward.

Potential Negatives

• Qualigen Therapeutics, Inc. has received a deficiency notification from Nasdaq, which could lead to delisting of its securities due to failure to file required reports on time.
• The company's ongoing compliance issues raise concerns about its financial management and operational stability, impacting investor confidence.
• There is no assurance that the company will successfully regain compliance, leaving its future on the Nasdaq uncertain.

FAQ

What was the recent notification received by Qualigen Therapeutics?

Qualigen Therapeutics received a deficiency notification letter from Nasdaq regarding its failure to file a Quarterly Report on Form 10-Q.

What does the Nasdaq deficiency notification imply?

The notification indicates a potential basis for delisting Qualigen's securities from Nasdaq due to the untimely filing of required reports.

What is Qualigen's plan in response to the Nasdaq notice?

Qualigen plans to present its plan to regain compliance at the scheduled hearing before the Nasdaq Hearings Panel.

Can Qualigen regain compliance with Nasdaq requirements?

There is no assurance that Nasdaq will grant further extensions or that Qualigen will meet all listing requirements.

Where can I find more information about Qualigen Therapeutics?

More information about Qualigen Therapeutics can be found on their official website, www.qlgntx.com.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

Full Release

CARLSBAD, Calif., May 19, 2025 (GLOBE NEWSWIRE) --

Qualigen Therapeutics, Inc. (NASDAQ: QLGN) (the “Company”) announced today that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") on May 19, 2025 (the "Notice"). The Notice indicated that the Nasdaq Hearings Panel (the “Panel”) will consider the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2025 as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market.

This matter serves as an additional deficiency under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). As a result, this deficiency will be considered by the Panel in connection with its determination regarding the Company’s continued listing on The Nasdaq Capital Market.

Pursuant to Nasdaq Listing Rule 5810(d), the Company should present its views with respect to this additional deficiency at its previously scheduled hearing before the Panel. If the Company fails to address the aforementioned issue, the Panel will consider the record as presented at the hearing and will make its determination based on that information.

The Company intends to present its plan to regain compliance at the hearing and will continue to work diligently to complete and file the Form 10-Q as soon as practicable.

Notwithstanding the foregoing, there can be no assurance that the Panel will grant the Company a further extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing.

About Qualigen Therapeutics, Inc.

For more information about Qualigen Therapeutics, Inc., please visit

www.qlgntx.com

.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” or “will” or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to the Company’s plans and expectations about the completion and filing of the 2024 Form 10-K, its submission of a plan to regain compliance with respect to the Listing Rule, and the timing thereof. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including but not limited to, uncertainties about the timing of the Company’s submission of a compliance plan, Nasdaq’s acceptance of any such plan, the duration of any extension that may be granted by Nasdaq, the potential inability to meet Nasdaq’s requirements, the Company’s preparation of the 2024 Form 10-K and the related financial statements, the possibility of additional delays in the filing of the 2024 Form 10-K, and the other risks and uncertainties described in the Company’s SEC reports and under the heading “Risk Factors” in its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which are available at

www.sec.gov

. These forward-looking statements speak only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.


Contact:

Investor Relations



ir@qlgntx.com

.