Qualigen calls it quits on COVID antiviral after pouring millions into R&D
Excerpt from the Press Release:
The FDA wanted a couple more clinical studies for Qualigen’s investigational COVID-19 antiviral before human testing, but the biotech is calling it quits instead.
Shares of the company plunged nearly 20% to $1.34 as the markets opened Tuesday, underscoring the risk that small companies take on when trying to jump into the race for a better COVID-19 treatment.
Infectious disease medicine QN-165 will be shelved for now, as Qualigen shifts focus to its oncology pipeline, including QN-247 and RAS-F for a variety of cancers, the company said during a second-quarter earnings report Tuesday.
Click the button below to read the entire Press Release:
Discover What Sets TrialStat Apart From Ordinary EDC Platforms
Click the image or button below to explore our eClinical Suite Platform and discover what sets TrialStat apart from competing EDC platforms.
Request Your Demo Today!
From rapid database build through database lock, we deliver consistent quality on-time and on-budget. Ready to upgrade your eClinical toolkit?