Qualigen Therapeutics (NASDAQ:QLGN) Stock Price Down 7.8% – Here’s Why

Shares of Qualigen Therapeutics, Inc. (NASDAQ:QLGN) dropped 7.8% during trading on Wednesday . The company traded as low as $3.90 and last traded at $3.90. Approximately 9,134 shares changed hands during trading, a decline of 90% from the average daily volume of 90,658 shares. The stock had previously closed at $4.23.

Qualigen Therapeutics Stock Down 7.8 %

The firm’s fifty day moving average price is $5.31 and its 200-day moving average price is $8.53.

Qualigen Therapeutics Company Profile

Qualigen Therapeutics, Inc, a biotechnology company, focuses on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a patent-protected rapid, onsite immunoassay testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, an oligonucleotide-based drug candidate to treat various nucleolin-expressing cancers, including liquid and solid tumors; QN-165, a drug candidate for the potential broad-spectrum treatment of infectious diseases, such as COVID-19; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that blocks RAS mutations and inhibits tumor formation; and selective target antigen removal system, a therapeutic device to remove circulating tumor cells, viruses, inflammation factors, and immune checkpoints.