Qualigen Therapeutics (QLGN) receives Nasdaq deficiency notice after delayed 10-Q

Qualigen Therapeutics, Inc. (NASDAQ: QLGN) (the “Company”) announced today that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") on May 19, 2025 (the "Notice"). The Notice indicated that the Nasdaq Hearings Panel (the “Panel”) will consider the Company’s failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2025 as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market.

This matter serves as an additional deficiency under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). As a result, this deficiency will be considered by the Panel in connection with its determination regarding the Company’s continued listing on The Nasdaq Capital Market.

Pursuant to Nasdaq Listing Rule 5810(d), the Company should present its views with respect to this additional deficiency at its previously scheduled hearing before the Panel. If the Company fails to address the aforementioned issue, the Panel will consider the record as presented at the hearing and will make its determination based on that information.

The Company intends to present its plan to regain compliance at the hearing and will continue to work diligently to complete and file the Form 10-Q as soon as practicable.

Notwithstanding the foregoing, there can be no assurance that the Panel will grant the Company a further extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing.

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