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Jun 30, 2022
Qualigen Q2 2022 Earnings Report
Reported an increase in FastPack sales and gross profit, strengthened product portfolio with milestone achievements and acquisition.
Key Takeaways
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.
FastPack sales increased by approximately 28% year-over-year.
Gross profit on product sales was up 64% year-over-year.
Net loss decreased by approximately 24% compared to the same quarter of the previous year.
Company is on track to complete IND-enabling studies for QN-302 in Q3 and Q4 2022.
Qualigen
Qualigen
Forward Guidance
Qualigen Therapeutics is focused on executing its strategy and achieving value-driving milestones for the remainder of 2022.