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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