Raytheon awarded $71 million in Navy contracts for missile systems
Investing.com -- Qualigen Therapeutics (NASDAQ:QLGN) stock surged 80% after the company announced it has been granted new patents covering 25 countries for its cancer drug QN-302.
The patents, titled "Substituted Naphthalene Diimides and Their Use," cover the product and manufacturing methods for QN-302, a drug developed by Professor Stephen Neidle and his team at University College London and licensed by Qualigen. The patent protection extends into 2040.
Through validations across Europe, the patents now cover over 20 European countries, representing the majority of the European population. Additionally, Qualigen has secured similar patent coverage in India, China, and Russia.
"Having the patents granted covering so much of the world’s population strengthens our position as a drug development company. By assuring such strong coverage will allow us to continue bringing QN-302 to market and treating patients suffering from Pancreatic and Gastrointestinal Cancer," stated Kevin Richardson II, CEO of Qualigen.
QN-302 is being developed for the treatment of pancreatic and gastrointestinal cancers. The company indicated it will provide periodic updates on additional patents as they are granted, noting that several have been published while others remain pending.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.