Qualigen Therapeutics Inc. (NASDAQ:QLGN) shares exploded in Thursday’s after-hours trading after the company partnered with digital asset firm BitGo to support its multi-asset cryptocurrency treasury strategy.
QLGN is charging ahead with explosive momentum. Follow the breaking news here.
The stock lobbed over 60% after-hours, building on its gains in the regular trading session.
The rally comes after the California-based biotech company picked BitGo as its treasury management partner, enabling access to liquidity and custody for its digital assets.
Qualigen, majority-owned by Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI), will invest across a diversified basket of the world's top 10 cryptocurrencies using BitGo’s over-the-counter desk. BitGo will keep the assets in a regulated cold storage with necessary compliance protocols.
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Price Action: Qualigen shares jumped 62.60% in after-hours trading after closing 5.37% higher at $3.530 during Thursday’s regular trading session. Year-to-date, the stock has slid 16.15%
Benzinga’s Edge Stock Rankings indicated that QLGN has a stronger price trend in the short and medium term. Visit Benzinga Edge Stock Rankings to find out how it compares to Strategy Inc. (NASDAQ:MSTR), the world’s largest cryptocurrency treasury firm,
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