Why Is Qualigen Stock Trading Lower Today?

  • Qualigen Therapeutics Inc 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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechNewsPenny StocksHealth CareFDAGeneralBriefsCovid-19
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!