|Bid||2.8400 x N/A|
|Ask||2.9400 x N/A|
|Day's Range||2.8600 - 3.0600|
|52 Week Range||2.8600 - 3.0600|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing novel therapeutics for the treatment of cancer and viral diseases, announces achievement of a milestone event which triggered a payment obligation from Yi Xin Zhen Duan Jishu (Suzhou) Ltd. of Suzhou, China (Yi Xin) to Qualigen. The milestone event pertained to the initiation of technology transfer of Qualigen's core FastPack® System, a rapid and highly accurate immunoassay testing system consisting of the FastPack Analyzer and the FastPack single-use, disposable test pouch.
Qualigen Therapeutics Inc (NASDAQ:QLGN) was trading 2% higher from the previous closing price. A Form 4 filing filed with the SEC on Wednesday, December 30 showed that Kruger Kurt H bought 4,000 shares at an average price of $2.94. The transaction moved the executive's stake in Qualigen Therapeutics Inc. to 10,000 shares.The Importance of Insider Transactions While transactions from an insider shouldn't be used as the sole item to make an investment or trading decision, an insider buying or selling stock in their company can be a good added factor that leads to more conviction in a decision.When an insider buys stock after an important sell off, that can indicate the insider's faith in the success of the organization. Henceforth, if the stock is bought at new highs, it might be because the insider feels that the stock is not overvalued. Insiders who sell stock at new lows could be anticipating some capitulation moment. If the insider sells at new highs, it could point to the intention to "take some profit" and "lock in a gain."Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. An open-market transaction means the insider went into the market of their own volition and made an active decision about the potential path for a company and its stock moving forward.Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company.See more from Benzinga * Click here for options trades from Benzinga * Stocks That Hit 52-Week Lows On Tuesday * Stocks That Hit 52-Week Lows On Monday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing novel therapeutics for the treatment of cancer and infectious diseases, announces that Michael Poirier, Chairman, Chief Executive Officer and President, has issued a letter to Qualigen's stockholders. The full text is as follows: