Qualigen sells FastPack for ~$5M; Q2 loss narrows to $3.5M; FDA OK for QN-302 trial

AIxCrypto Holdings, Inc.

2023-Q2 EPS reported -$1.46 vs consensus -$26.52 ▲ beat (+94.5%)

Divested FastPack diagnostics to Chembio (BIOSYNEX) for ~$5M all cash; proceeds for therapeutics pipeline.
FDA cleared IND for QN-302; Phase 1 trial in advanced solid tumors to start H2 2023, targeting 24+ patients in 2024.
Q2 revenue $1.6M (+14% YoY); net loss $3.5M ($0.69/share) vs $4.1M ($1.12) in prior-year quarter.
R&D spend $1.3M (89% on therapeutics); Pan-RAS platform on track for late in vivo candidate by year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AIxCrypto Holdings, Inc. reported the quarter ended June 30, 2023 results: revenue approximately $1.6 million.

Period: the quarter ended June 30, 2023
Revenue: approximately $1.6 million
Result: reported results

Exact text from the filing

Revenues from product sales for the quarter ended June 30, 2023 were approximately $1.6 million compared to approximately $1.4 million for the same period of 2022

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Source: SEC EDGAR

accession 0001493152-23-028863

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