Qualigen Therapeutics Divests FastPack Diagnostics Business
Portfolio Pulse from Happy Mohamed
Qualigen Therapeutics, Inc. (NASDAQ:QLGN) has sold its FastPack diagnostics business to Chembio Diagnostics, a subsidiary of French diagnostics provider BIOSYNEX Group. The all-cash deal will allow Qualigen to focus more on its therapeutics pipeline, particularly its small molecule G-Quadruplex (G4) selective transcription inhibitor, QN-302, and its pre-clinical pan-RAS inhibitor platform.
July 24, 2023 | 12:17 pm
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The sale of Qualigen's FastPack diagnostics business to Chembio Diagnostics will allow the company to focus more on its therapeutics pipeline. This could potentially lead to increased investment in the company's cancer therapeutics portfolio.
The sale of the FastPack diagnostics business is a strategic move by Qualigen to focus more on its therapeutics pipeline. This could potentially attract more investors who are interested in the company's cancer therapeutics portfolio, thus potentially driving up the company's stock price in the short term.
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