Qualigen Therapeutics, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 14, 2025
FFR$0.91+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Statement of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| EXPENSES | ||||
| General and administrative | $1,394,932 | $986,484 | $3,889,464 | $2,047,419 |
| Research and development | 17,815 | 754,287 | 50,982 | 1,118,672 |
| Credit loss expense - short-term note receivable | 271,000 | — | 468,000 | — |
| Total expenses | 1,683,747 | 1,740,771 | 4,408,446 | 3,166,091 |
| LOSS FROM OPERATIONS | (1,683,747) | (1,740,771) | (4,408,446) | (3,166,091) |
| OTHER EXPENSE (INCOME), NET | ||||
| Gain on change in fair value of warrant liabilities | (15,974) | (493,206) | (55,199) | (359,906) |
| Gain on change in fair value of derivative liabilities | — | (10,116) | — | (174,613) |
| Gain on change in fair value of convertible debt | (37,874) | — | (37,874) | — |
| Interest expense | 106,052 | 263,560 | 179,667 | 400,117 |
| Interest income | (142,477) | (1,094) | (255,430) | (2,713) |
| Loss on issuance of convertible debt | 91,943 | — | 91,943 | 358,279 |
| Gain on voluntary conversion of convertible debt into common stock | — | (83,800) | — | (83,800) |
| Loss on monthly redemptions of convertible debt into common stock | — | 61,655 | — | 208,852 |
| Total other expense (income), net | 1,670 | (263,001) | (76,894) | 346,216 |
| LOSS BEFORE (BENEFIT FROM) PROVISION FOR INCOME TAXES | (1,685,417) | (1,477,770) | (4,331,553) | (3,512,307) |
| (BENEFIT FROM) PROVISION FOR INCOME TAXES | — | (1,212) | 35 | (2,998) |
| NET LOSS FROM CONTINUING OPERATIONS | (1,685,417) | (1,476,558) | (4,331,588) | (3,509,309) |
| DISCONTINUED OPERATIONS | ||||
| Loss on disposal of discontinued operations, net of tax | — | (100,000) | — | (100,000) |
| GAIN (LOSS) FROM DISCONTINUED OPERATIONS | — | (100,000) | — | (100,000) |
| NET LOSS | (1,685,417) | (1,576,558) | (4,331,588) | (3,609,309) |
| Deemed dividend arising from warrant down-round provision | $(1,586) | $— | $(1,586) | $(60,017) |
| Net loss attributable to Qualigen Therapeutics, Inc | $(1,687,003) | $(1,576,558) | $(4,333,174) | $(3,669,326) |
| Total net loss per common share, basic and diluted | $(1.00) | $(10.37) | $(2.76) | $(27.09) |
| Weighted-average number of shares outstanding, basic and diluted (after stock split) | 1,683,881 | 152,065 | 1,570,925 | 135,471 |
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