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Why Is Qualigen Stock Trading Lower Today?

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Why Is Qualigen Stock Trading Lower Today?
  • Qualigen Therapeutics Inc (NASDAQ: QLGN) shares are ticking lower as the company withdrew the FDA Emergency Use Authorization (EUA) application for its FastPack SARS-CoV-2 IgG diagnostic test for COVID-19 antibodies.
  • According to the SEC filing, the EUA was submitted in June last year, and now the company believes it is no longer viable to launch the test.
  • During the nine months during which the emergency application was with the FDA, alternative tests and testing practices have taken hold, triggering the withdrawal.
  • Price Action: QLGN shares are trading 16.9% lower at $2.16 in the premarket session on the last check Monday.
 

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