Here are 1-3 brief analogies for Qualigen Therapeutics (QLGN):

• A clinical-stage Amgen focused solely on novel cancer therapies.
• An early-stage Merck, specializing in developing new oncology drugs.
• A startup biotech company aiming to discover groundbreaking cancer treatments, similar to an early Genentech.

• QN-302: A small molecule pan-RAS inhibitor in pre-clinical development for various solid tumors.
• P'DEC Technology Platform: A drug delivery platform designed to enhance the efficacy and safety of new and existing therapeutics.

Qualigen Therapeutics (symbol: QLGN) is a pre-commercial biotechnology company focused on the research and development of novel therapeutic candidates. As such, it does not currently have commercialized products or services that are sold to major customers in the traditional sense of generating product revenue.

The company's operations are centered on advancing its drug pipeline through preclinical studies and clinical trials. Therefore, it does not primarily sell to other companies or individuals.

It is important to note that as of January 2024, Qualigen Therapeutics completed a reverse merger with Neuro One Therapeutics, Inc. The combined entity, now operating under the Neuro One Therapeutics name (though still trading under QLGN for a period), remains a clinical-stage biotechnology company primarily focused on developing therapies for neurological disorders. This strategic shift further emphasizes its pre-commercial status.

While not "customers" from a revenue generation standpoint, the company's primary interactions and dependencies are with:

• Contract Research Organizations (CROs): These companies are engaged to manage and execute clinical trials.
• Academic and Research Institutions: For collaborative research, scientific expertise, and technology licensing.
• Investors: Providing the necessary capital to fund its research and development activities.

Its ultimate beneficiaries would be future patients, once any of its drug candidates successfully complete clinical trials and receive regulatory approval for commercialization, which is still in the future for QLGN/Neuro One Therapeutics.

Jerry (Jiawei) Wang Co-Chief Executive Officer

Jerry (Jiawei) Wang was appointed as Co-Chief Executive Officer of Qualigen Therapeutics, effective October 2, 2025. He is a global president and one of the original founding team members of Faraday Future, having been deeply involved in its strategic development since 2014. Mr. Wang played a key role in raising over $3 billion in funding and led Faraday Future's successful initial public offering (IPO) in 2021.

Koti Meka Chief Financial Officer

Koti Meka was appointed as Chief Financial Officer of Qualigen Therapeutics, effective October 2, 2025. Prior to joining Qualigen, Mr. Meka served as the Chief Financial Officer of Faraday Future. He possesses extensive experience in finance, gained from his tenure at Ford Motor Company from 2002 to 2016, where he worked in areas such as cost optimization, product development finance, and corporate finance.

Campbell Becher President

Campbell Becher was appointed President of Qualigen Therapeutics on September 25, 2024. He continues to serve in this role following the executive appointments in October 2025.

Main Products and Addressable Markets:

• QN-302 (targeting various tumor types, including pancreatic cancer)

  The global pancreatic cancer therapeutics market was valued at approximately USD 5.67 billion in 2025 and is projected to reach around USD 11.21 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 10.23%. Another estimate places the global market at USD 3.30 billion in 2024, with a projection to reach USD 10.69 billion by 2032, at a CAGR of 15.8%. The U.S. pancreatic cancer treatment market was estimated at USD 1.02 billion in 2024 and is projected to grow to approximately USD 2.85 billion by 2034, with a CAGR of 13.84%.

• Pan-RAS (targeting RAS mutations in pancreatic, colorectal, and lung cancers)
  • Pancreatic Cancer: As above, the global market for pancreatic cancer therapeutics is estimated at USD 5.67 billion in 2025, growing to USD 11.21 billion by 2032. The U.S. market is projected to grow from USD 1.02 billion in 2024 to USD 2.85 billion by 2034.
  • Colorectal Cancer: The global colorectal cancer therapeutics market is expected to be USD 13.61 billion in 2025 and is forecast to reach USD 17.15 billion by 2030, at a CAGR of 4.73%. Another report indicates the global market size was USD 12.71 billion in 2023 and is expected to reach USD 19.90 billion by 2033. In the U.S., the market was estimated at USD 3.42 billion in 2024 and is predicted to be worth around USD 5.43 billion by 2034, with a CAGR of 4.73%.
  • Lung Cancer: The global lung cancer therapeutics market is projected to be USD 41.8 billion in 2025, rising to USD 126.5 billion by 2035 at a CAGR of 11.7%. Another estimate places the global market at USD 35.37 billion in 2025, reaching approximately USD 71.30 billion by 2034 at a CAGR of 8.10%. The U.S. lung cancer therapeutics market was estimated at USD 6.58 billion in 2024 and is projected to be worth around USD 15.83 billion by 2034, growing at a CAGR of 8.30%.
• QN-247 (targeting hematologic malignancies)

  The global hematologic malignancies treatment market size was approximately USD 72.49 billion in 2025 and is forecast to reach USD 139.13 billion by 2034, growing at a CAGR of 7.61%. North America held approximately 47% of the market share in 2024. The U.S. hematologic malignancies market size was evaluated at USD 3.15 billion in 2025 and is expected to grow to around USD 58.2 billion by 2034, registering a CAGR of 38.2%.

• STARS (DNA/RNA-based treatment device for removal of tumor-produced and viral compounds)

  The "Blood Purification Equipment Market" (global), which includes devices for removing various compounds from blood, was valued at USD 16.98 billion in 2024 and is expected to reach USD 26.06 billion by 2032, at a CAGR of 5.5% from 2025 to 2032. The cancer diagnostics segment within the blood filtration and purification market is anticipated to register the fastest growth through 2034.

  Furthermore, as a "DNA/RNA-based treatment device," STARS could also relate to the broader "RNA-Based Therapies Market." The global RNA-based therapies market was valued at USD 90.56 billion in 2024 and is projected to reach USD 213.54 billion by 2033, expanding at a CAGR of 10.0%. The oncology segment within this market led with 34.2% revenue share in 2024 and is projected to advance at a 15.2% CAGR between 2025 and 2030.

Expected Drivers of Future Revenue Growth for Qualigen Therapeutics (AIxCrypto)

• Growth of the C10 Digital Asset Treasury and C10 Index: AIxCrypto aims to expand its C10 Treasury to $50 million in Assets Under Management (AUM) by the end of 2025. This initiative, serving as a core reserve asset of the Web3 ecosystem, is expected to generate revenue through asset management fees or other mechanisms tied to the growth and performance of the treasury and the C10 Index product.
• Expansion and Adoption of the BesTrade DeAI Agent: The company plans to launch the public beta of its BesTrade DeAI Agent by the end of November 2025, followed by a global user growth campaign. This AI-powered crypto trading agent, described as a "Meta Exchange," is anticipated to drive revenue through trading fees, subscription services for its AI features, or transaction-based income as it connects users and optimizes transaction pathways.
• Launch and Utility of Crypto Ecosystem Tokens: AIxCrypto intends to launch crypto ecosystem tokens, including a potential C10 stablecoin and EAI + Crypto Real World Asset (RWA) dual-bridge products, on leading exchanges. These tokens and RWA products are designed to build a sustainable on-chain value growth system, generating revenue through transaction fees, stablecoin issuance, and other utilities within the Web3 ecosystem.

Share Issuance

• Qualigen Therapeutics raised approximately $8.0 million in new equity during the year ended December 31, 2024, which included $4.6 million from the sale of Series A-2 Preferred Stock, $3.0 million from the sale of common stock and prefunded warrants in a public offering, and $0.4 million from warrant exercises.
• A 1-for-50 reverse stock split was effected on November 5, 2024, which reduced the number of outstanding shares from 36,837,020 to 736,431.
• In July 2025, the company closed a private placement of 4,500 shares of Series A-3 Preferred Stock at $1,000 per share, generating approximately $4.5 million in gross proceeds.

Inbound Investments

• A $41 million strategic investment was made in Qualigen Therapeutics by Faraday Future, as reported in October 2025.
• The company received approximately $4.5 million in gross proceeds from a private placement of Series A-3 Preferred Stock in July 2025.
• In the year ended December 31, 2024, Qualigen Therapeutics raised approximately $8.0 million in new equity.

Outbound Investments

• Between July and November 2023, Qualigen Therapeutics reduced its ownership in NanoSynex from approximately 52.8% to 39.90% of the voting equity.
• This reduction involved surrendering 281,000 Series B Preferred Shares of NanoSynex and approximately $3.0 million in promissory notes issued by NanoSynex to eliminate future funding obligations.

Capital Expenditures

• Qualigen Therapeutics' capital expenditures peaked in December 2020 at $210,193.
• Capital expenditures decreased by 36.0% in 2021 to $134,471.
• Capital expenditures saw an increase of 858.7% in 2020.