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Qualigen Therapeutics Q1 revenues $0.9 million

Christian Fernsby ▼ | August 17, 2020
Qualigen Therapeutics announced results for the fiscal year 2021 first quarter, ended June 30, 2020.
Qualigen Therapeutics
Qualigen Therapeutics   Total revenues for the three months ended June 30, 2020 were $0.9 million
Total revenues for the three months ended June 30, 2020 were $0.9 million compared with $1.5 million for the same period in 2019.

Topics: Qualigen Therapeutics

The decrease was primarily due to the coronavirus pandemic resulting in a decrease in patient visits to physician offices, clinics and small hospitals, which reduced the number of FastPack tests performed.

All revenues in both periods were derived from diagnostic products.

General and administrative expense was $2.0 million for the three months ended June 30, 2020 compared with $0.3 million for the prior year period.

The increase is largely attributable to one time expenses related to the reverse recapitalization transaction and other public company expenses not incurred in the prior year period.

Loss from operations for the three months ended June 30, 2020 increased to $2.6 million from a $0.5 million loss from operations for the prior year period.


 

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