Qualigen to prioritize oncology after FDA advice on Covid treaatment

 Qualigen Therapeutics, Inc. (Nasdaq: QLGN) today announces its intention to prioritize its focus to its oncology pipeline that includes QN-247 and RAS-F. These plans follow feedback the Company received from the United States Food and Drug Administration regarding Qualigen’s investigational new drug (IND) application for one of its other compounds, QN-165, for the treatment of COVID-19 in hospitalized patients.

“Although the FDA requested that we perform additional pre-clinical toxicity and safety pharmacology studies before proceeding with clinical trials in COVID-19 patients, we believe that, given the time horizon which these suggested studies would require, coupled with the already very crowded COVID-19 vaccine and therapeutic landscape, the best and most prudent strategy for us at this time is to pivot to focusing primarily on our oncology pipeline that includes QN-247 and RAS-F assets for which we have already seen encouraging preclinical data,” commented Michael Poirier, Qualigen’s Chairman and Chief Executive Officer. “We appreciate the FDA’s guidance regarding our approach to QN-165, which helps us to solidify our priority to address unmet medical needs in treating cancer patients. We look forward to sharing ongoing progress with our shareholders.”

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