Qualigen Therapeutics Reports Positive QN-247 Readout in Triple Negative Breast Cancer in Vivo Model
August 01 2022 - 8:30AM
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life
sciences company focused on developing treatments for adult and
pediatric cancers with potential for Orphan Drug Designation, while
also commercializing diagnostics, today announces it has completed
its in vivo efficacy analysis of QN-247 in solid tumors. Data
demonstrates robust efficacy and no safety signals in a triple
negative breast cancer (TNBC) model.
Committed to an in vivo data readout in the
third quarter of 2022, the Company has been conducting in vivo
testing on multiple potential indications. QN-247 demonstrated a
robust efficacy signal and showed no adverse events or toxicities
at the tested therapeutic dose in an animal model for triple
negative breast cancer (TNBC), a rare, highly aggressive and
difficult to treat form of breast cancer. QN-247 demonstrated a
favorable safety profile with stable body weights throughout the
study. Qualigen believes the encouraging efficacy and safety
results in TNBC animal model warrant further investigation and
future investment.
Michael Poirier, Qualigen's Chief Executive
Officer, commented, “We are encouraged by these positive results
and believe there are significant opportunities to evaluate which
indications for QN-247 merit further development. We are also on
schedule toward becoming clinical-stage with another oncology
asset, namely, the IND submission of our lead therapeutic program
QN-302, in the coming months for the potential treatment of
G-Quadruplex expressing solid tumors such as pancreatic cancer,
among other cancers.”
”We currently have sufficient cash to execute on
our near-term plans. Notwithstanding our current cash position, we
have positioned the Company to raise capital should the need arise,
based on the emerging strength of our multiple programs across both
pillars of our business, therapeutics, and diagnostics, and we
determine that market conditions are more favorable. Our focus for
2022 remains on execution and achieving our value driving
milestones,” Mr. Poirier added.
About Qualigen
Therapeutics, Inc.
Qualigen Therapeutics, Inc. is a diversified
life sciences company focused on developing treatments for adult
and pediatric cancer, as well as maintaining and expanding its core
FDA-cleared FastPack® System, which has been used successfully in
diagnostics for over 20 years. Our investigational QN-302 compound
is a small molecule selective transcription inhibitor with strong
binding affinity to G4s prevalent in cancer cells; such binding
could, by stabilizing the G4s against “unwinding,” help inhibit
cancer cell proliferation. Our investigational QN-247 compound
inhibits nucleolin, a key multi-functional regulatory protein that
is overexpressed in cancer cells; QN-247 may thereby be able to
inhibit the cells’ proliferation. QN-247 has shown promise in
preclinical studies for the treatment of acute myeloid leukemia
(AML). The investigational compounds within Qualigen’s RAS-F family
of RAS oncogene protein-protein interaction inhibitor small
molecules are believed to inhibit or block the binding of mutated
RAS genes’ proteins to their effector proteins, thereby leaving the
proteins from the mutated RAS unable to cause further harm. In
theory, such mechanism of action may be effective in the treatment
of about one quarter of all cancers, including certain forms of
pancreatic, colorectal, and lung cancers. In addition to its
oncology drug pipeline, Qualigen has an established diagnostics
business which manufactures and distributes proprietary and highly
accurate rapid blood testing systems to physician offices and small
hospitals for the management of prostate cancer and other diseases
and health conditions.
For more information about Qualigen
Therapeutics, Inc., please visit www.qualigeninc.com.
Forward-Looking Statements
This news release contains forward-looking
statements by Qualigen that involve risks and uncertainties and
reflect the Company's judgment as of the date of this release.
These statements include those related to the Company's prospects
and strategy, including statements related to the development of
QN-247, the timing for in vivo data readout, and the Company’s
capital needs and financing plans. Actual events or results may
differ from the Company's expectations. For example, here can be no
assurance that the Company will be able to successfully develop any
drugs (including QN-247, QN-302 and RAS-F); that preclinical
development of the Company's drugs (including QN-247, QN-302 and
RAS-F, and the deprioritized infectious-disease drug candidate
QN-165) will be completed on any projected timeline or will be
successful; that any clinical trials will be approved to begin by
or will proceed as contemplated by any projected timeline, or at
all; that any future clinical trial data will be favorable or that
such trials will confirm any improvements over other products or
lack negative impacts; that any drugs will receive required
regulatory approvals (or Fast Track designation or Orphan Drug
status) or that they will be commercially successful; that patents
will issue on the Company's owned and in-licensed patent
applications; that such patents, if any, and the Company's
currently owned and in-licensed patents would prevent competition;
or that the Company will be able to procure or earn sufficient
working capital to complete the development, testing and launch of
the Company's prospective therapeutic products (including QN-247,
QN-302 and RAS-F). The Company's stock price could be harmed if any
of the events or trends contemplated by the forward-looking
statements fails to occur or is delayed or if any actual future
event otherwise differs from expectations. Additional information
concerning these and other risk factors affecting the Company's
business can be found in the Company's prior filings with the
Securities and Exchange Commission, including its most recent Form
10-K, all of which are available at www.sec.gov.
The Company disclaims any intent or obligation
to update these forward-looking statements beyond the date of this
news release, except as required by law. This caution is made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
Contact:
Jules AbrahamJQA Partners,
Inc.917-885-7378jabraham@jqapartners.com
Source: Qualigen Therapeutics, Inc.
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Apr 2023 to Apr 2024