Qualigen Earnings Reports

Qualigen Therapeutics reported a net loss of $3.5 million, or $0.69 per share, for the quarter ended June 30, 2023. The company divested its FastPack® diagnostics business for approximately $5 million and received FDA IND clearance for QN-302.

Qualigen Therapeutics reported increased revenues driven by FastPack sales, reduced net loss, and decreased research and development costs. They are progressing with their therapeutic pipeline and expanding their diagnostics business through strategic partnerships.

Qualigen Therapeutics reported a decrease in revenue for Q1 2022, primarily due to the termination of their distribution agreement with Sekisui. The company experienced a net loss of $4.3 million, or $0.12 per share, compared to a net loss of $5.2 million, or $0.19 per share, for the corresponding period in 2021.

Ritter Pharmaceuticals reported a net loss of $0.4 million for the fourth quarter ended December 31, 2019, compared to a net loss of $6.6 million for the same period in 2018. The company's cash and cash equivalents were approximately $1.7 million as of December 31, 2019. A definitive merger agreement with Qualigen, Inc. was announced in January 2020.