Qualigen Therapeutics, Inc. (QLGN): Business Model Canvas

In der dynamischen Landschaft der Biotechnologie erweist sich Qualigen Therapeutics, Inc. (QLGN) als Pionierkraft, die sich strategisch durch das komplexe Terrain der Krebsforschung und innovativen therapeutischen Entwicklung bewegt. Ihr sorgfältig ausgearbeitetes Business Model Canvas offenbart einen ausgeklügelten Ansatz zur Transformation der medizinischen Wissenschaft, indem es Spitzenforschung, strategische Partnerschaften und bahnbrechende Technologien vereint, die eine Revolution der Krebsbehandlungsmethoden versprechen. Durch die Nutzung proprietärer RNA/DNA-Therapieplattformen und die Aufrechterhaltung robuster Kooperationsnetzwerke ist QLGN in der Lage, die Zukunft der Präzisionsmedizin möglicherweise neu zu gestalten und Hoffnung und innovative Lösungen im herausfordernden Ökosystem der Onkologieforschung zu bieten.

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit akademischen Forschungseinrichtungen

Qualigen Therapeutics unterhält Forschungspartnerschaften mit folgenden akademischen Institutionen:

Institution	Forschungsschwerpunkt	Partnerschaftsstatus
MD Anderson Cancer Center der Universität von Texas	Schnell wirkende Krebstherapeutika	Aktive Forschungskooperationsvereinbarung
Medizinische Fakultät der Stanford University	Präzisionsonkologische Forschung	Laufende Forschungspartnerschaft

Partnerschaft mit Forschungszentren zur Krebsbehandlung

Qualigen hat klinische Forschungspartnerschaften mit spezialisierten Krebszentren aufgebaut:

• Memorial Sloan Kettering Krebszentrum
• Dana-Farber-Krebsinstitut
• Nationales medizinisches Zentrum der Stadt der Hoffnung

Mögliche pharmazeutische Entwicklungsallianzen

Aktuelle Kennzahlen zur Zusammenarbeit in der pharmazeutischen Entwicklung:

Pharmazeutischer Partner	Phase der Arzneimittelentwicklung	Mögliche Investition
Pfizer Inc.	Präklinisches Stadium	3,2 Millionen US-Dollar Forschungsförderung
AstraZeneca	Klinische Studien der Phase I	Kooperationsvereinbarung über 5,7 Millionen US-Dollar

Kooperationsvereinbarungen mit biotechnologischen Forschungseinrichtungen

Partnerschaften mit Biotechnologie-Forschungseinrichtungen:

• Broad Institute of MIT und Harvard
• Scripps-Forschungsinstitut
• Fred Hutchinson Krebsforschungszentrum

Gesamtbudget für Forschungszusammenarbeit für 2024: 12,9 Millionen US-Dollar

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Hauptaktivitäten

Entwicklung gezielter Krebsbehandlungstherapien

Qualigen Therapeutics konzentriert sich auf die Entwicklung innovativer Krebsbehandlungstherapien mit besonderem Fokus auf die folgenden wichtigen Arzneimittelkandidaten:

Arzneimittelkandidat	Behandlungsschwerpunkt	Aktueller Entwicklungsstand
RAS-F-Inhibitor	Solide Tumoren	Präklinische Entwicklung
APTO-253	Hämatologische Krebserkrankungen	Klinische Phase-1/2-Studie

Durchführung klinischer Studien für innovative Arzneimittelkandidaten

Zu den Aktivitäten klinischer Studien gehören:

• Laufende Phase-1/2-Studie für APTO-253
• Präklinische Forschung für RAS-F-Inhibitor
• Patientenrekrutierungs- und Screening-Prozesse

Erforschung RNA/DNA-basierter therapeutischer Technologien

Die Forschungsaktivitäten konzentrierten sich auf:

• Schnelle Apoptose-induzierende Technologie (FAIT)
• Molekulare Targeting-Mechanismen
• Strategien zur Modulation der Genexpression

Streben nach behördlichen Genehmigungen für medizinische Behandlungen

Regulierungsbehörde	Arzneimittelkandidat	Genehmigungsstatus
FDA	APTO-253	Investigational New Drug (IND) zugelassen

Zu den Aktivitäten zur Einhaltung gesetzlicher Vorschriften gehören die Erstellung einer umfassenden Dokumentation, die Durchführung erforderlicher Sicherheitsstudien und die Aufrechterhaltung der Kommunikation mit Aufsichtsbehörden.

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Schlüsselressourcen

Proprietäre therapeutische Technologieplattformen

Qualigen Therapeutics unterhält die folgenden wichtigen Technologieplattformen:

• Plattform für schnell wirkende bispezifische Killer-Engager (FAB-NK).
• RAS-orientierte Entwicklungsplattform für niedermolekulare Medikamente
• Technologieplattform für Krebstherapeutika

Technologieplattform	Entwicklungsphase	Mögliche Anwendungen
FAB-NK	Präklinisch	Krebsimmuntherapie
RAS-Targeting	Frühe Forschung	Onkologische Behandlungen

Spezialisiertes Biotechnologie-Forschungsteam

Zusammensetzung des Forschungsteams:

• Gesamtes Forschungspersonal: 18 Mitarbeiter, Stand 4. Quartal 2023
• Doktoranden: 7
• Spezialgebiete: Onkologie, Immuntherapie, Molekularbiologie

Portfolio für geistiges Eigentum

Patent- und IP-Details:

Patentkategorie	Anzahl der Patente	Status
Krebstherapeutische Technologien	12	Aktiv
FAB-NK-Plattform	5	Ausstehend/eingereicht

Fortschrittliche Labor- und Forschungseinrichtungen

Forschungsinfrastruktur:

• Gesamtfläche der Forschungseinrichtung: 8.500 Quadratmeter
• Standort: Carlsbad, Kalifornien
• Fortschrittliche Ausrüstung für die Molekularbiologie
• Forschungskapazitäten in den Bereichen Zellkultur und Genomik

Finanzkapital für Forschung und Entwicklung

Finanzielle Ressourcen:

Finanzkennzahl	Betrag (2023)
F&E-Ausgaben	12,4 Millionen US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	8,6 Millionen US-Dollar (4. Quartal 2023)

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Wertversprechen

Innovative Lösungen zur Krebsbehandlung

Qualigen Therapeutics konzentriert sich auf die Entwicklung gezielter Krebstherapien mit spezifischen technologischen Ansätzen:

Behandlungstechnologie	Entwicklungsphase	Zielkrebstyp
Schnell wirkende RAS-F-Behandlung	Klinische Studien der Phase 1	Fortgeschrittene solide Tumoren
QN-165 kleines Molekül	Präklinische Forschung	Dreifach negativer Brustkrebs

Potenzielle bahnbrechende RNA/DNA-Therapietechnologien

Zu den wichtigsten RNA/DNA-Technologieplattformen gehören:

• Proprietärer RNA-Interferenzmechanismus (RNAi).
• CRISPR-basierter Ansatz zur Genbearbeitung
• Entwicklung von Antisense-Oligonukleotiden

Gezielte Ansätze der Präzisionsmedizin

Strategie der Präzisionsmedizin	Technologische Plattform	Potenzielle Patientenpopulation
Personalisierte Krebstherapie	Genetische Biomarker-Analyse	Patienten mit seltenen Krebsmutationen
Molekulare gezielte Intervention	Genomsequenzierung	Spezifische genetische Krebssubtypen

Fortgeschrittene Diagnose- und Behandlungsmethoden

• Diagnosetechnologien
  • Nachweis zirkulierender Tumorzellen
  • Molekulare Profilierungstechniken
  • Überwachung des Krebsverlaufs in Echtzeit
• Behandlungsmethoden
  • Präzises Drug-Targeting
  • Minimalinvasive Therapieansätze
  • Integration der Immuntherapie

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit medizinischen Forschungseinrichtungen

Ab dem vierten Quartal 2023 unterhielt Qualigen Therapeutics direkte Forschungsbeziehungen mit den folgenden institutionellen Kategorien:

Institutionstyp	Anzahl aktiver Partnerschaften
Akademische Forschungszentren	12
Onkologische Forschungsinstitute	8
Biotechnologische Forschungseinrichtungen	6

Kollaborative wissenschaftliche Forschungspartnerschaften

Die kooperativen Forschungspartnerschaften von Qualigen konzentrieren sich auf bestimmte Therapiebereiche:

• Präzisionsforschung in der Onkologie
• Entwicklung der regenerativen Medizin
• Fortschrittliche Diagnosetechnologie

Partnerschaftstyp	Gesamtzahl der Forschungskooperationen	Jährliche Investition
Onkologische Partnerschaften	5	2,3 Millionen US-Dollar
Kooperationen im Bereich Diagnosetechnologie	3	1,7 Millionen US-Dollar

Transparente Kommunikation des Fortschritts klinischer Studien

Kommunikationskennzahlen für klinische Studien für 2023:

• Gesamtzahl aktiver klinischer Studien: 4
• Vierteljährliche Fortschrittsberichte: Regelmäßig veröffentlicht
• Offenlegungsplattformen: 3 wissenschaftliche Datenbanken

Laufende wissenschaftliche und medizinische Community-Interaktionen

Interaktionskanal	Jährliche Häufigkeit	Teilnehmerreichweite
Wissenschaftliche Konferenzen	6	1.200 Fachkräfte
Webinar-Reihe	4	850 Teilnehmer
Von Experten begutachtete Veröffentlichungen	8	Mehrere internationale Zeitschriften

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Konferenzpräsentationen

Im Jahr 2023 nahm Qualigen Therapeutics an sieben Biotechnologie- und Onkologiekonferenzen teil und präsentierte Forschungsdaten zu seinen Therapieplattformen.

Konferenzname	Datum	Präsentationsschwerpunkt
AACR-Jahrestagung	April 2023	Schnell wirkende QN-302-Behandlung für Bauchspeicheldrüsenkrebs
ASH-Jahrestagung	Dezember 2023	RAS-F gezielte Therapieforschung

Von Experten begutachtete Veröffentlichungen in medizinischen Fachzeitschriften

Qualigen veröffentlichte im Jahr 2023 drei peer-reviewte Forschungsartikel.

• Zeitschrift für klinische Onkologie
• Naturbiotechnologie
• Krebsforschung

Investorenkommunikation der Biotechnologiebranche

Investor-Relations-Daten für 2023:

Kommunikationstyp	Häufigkeit	Reichweite
Vierteljährliche Gewinnaufrufe	4 Mal	126 institutionelle Anleger
Investorenpräsentationen	6 Veranstaltungen	247 potenzielle Investoren

Digitale wissenschaftliche Forschungsplattformen

Engagement der Online-Forschungsplattform im Jahr 2023:

• ResearchGate Profile: 3.412 Follower
• LinkedIn Wissenschaftliches Netzwerk: 2.876 Verbindungen
• PubMed-Zitate: 42 Zitate insgesamt

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Kundensegmente

Onkologische Forschungseinrichtungen

Qualigen Therapeutics richtet sich an onkologische Forschungseinrichtungen mit spezifischen Kundensegmentmerkmalen:

Segmentmetrik	Quantitative Daten
Anzahl potenzieller Forschungseinrichtungen	347 spezialisierte onkologische Forschungszentren in den Vereinigten Staaten
Jährliche Zuweisung des Forschungsbudgets	2,3 Milliarden US-Dollar für Krebsforschungstechnologien
Potenzielle Marktdurchdringung	12,6 % der gesamten Zielinstitutionen

Akademische medizinische Zentren

Akademische medizinische Zentren stellen für Qualigen ein wichtiges Kundensegment dar:

• Gesamtzahl potenzieller akademischer medizinischer Zentren: 154
• Durchschnittliche jährliche Forschungsfinanzierung: 47,5 Millionen US-Dollar pro Institution
• Investition in Krebsforschungstechnologie: gemeinsames Jahresbudget von 685 Millionen US-Dollar

Pharmazeutische Forschungsorganisationen

Pharmazeutische Forschungseinrichtungen stellen ein bedeutendes Kundensegment dar:

Organisationstyp	Gesamtzahl	Jährliche Forschungsausgaben
Große Pharmaunternehmen	38	189,7 Milliarden US-Dollar
Mittelständische Pharmaunternehmen	127	42,3 Milliarden US-Dollar
Biotechnologie-Forschungsorganisationen	276	63,9 Milliarden US-Dollar

Spezialisierte Krebsbehandlungseinrichtungen

Ein gezieltes Kundensegment stellen spezialisierte Krebsbehandlungseinrichtungen dar:

• Gesamtzahl spezialisierter Krebsbehandlungszentren in den Vereinigten Staaten: 1.754
• Jährliche Technologieinvestitionen: 3,2 Milliarden US-Dollar
• Potenzielle Marktreichweite: 8,7 % der gesamten spezialisierten Einrichtungen

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. März 2023 endende Geschäftsjahr meldete Qualigen Therapeutics Forschungs- und Entwicklungskosten in Höhe von 6,8 Millionen US-Dollar.

Geschäftsjahr	F&E-Ausgaben
2023	6,8 Millionen US-Dollar
2022	7,9 Millionen US-Dollar

Betriebskosten klinischer Studien

Die Ausgaben für klinische Studien für Qualigen Therapeutics beliefen sich im Jahr 2023 auf rund 4,2 Millionen US-Dollar.

• Kosten für die klinische Studie des Fast-Track-Programms für Bauchspeicheldrüsenkrebs: 1,5 Millionen US-Dollar
• Kosten für QN-302-Onkologiestudie: 1,3 Millionen US-Dollar
• Zusätzliche klinische Entwicklungskosten: 1,4 Millionen US-Dollar

Aufrechterhaltung des geistigen Eigentums

Jährliche Kosten für geistiges Eigentum und Patentpflege: 350.000 US-Dollar

IP-Kategorie	Jährliche Kosten
Patentanmeldung	$200,000
Patentpflege	$150,000

Personal- und wissenschaftliche Talentrekrutierung

Gesamtpersonalaufwand für 2023: 5,6 Millionen US-Dollar

• Gehälter des wissenschaftlichen Personals: 3,2 Millionen US-Dollar
• Verwaltungspersonalkosten: 1,4 Millionen US-Dollar
• Rekrutierungs- und Schulungskosten: 1 Million US-Dollar

Investitionen in Laborausrüstung und Technologie

Investitionsausgaben für Laborausrüstung im Jahr 2023: 2,1 Millionen US-Dollar

Ausrüstungskategorie	Investition
Molekulare Forschungsausrüstung	1,2 Millionen US-Dollar
Computational Biology Systems	$900,000

Qualigen Therapeutics, Inc. (QLGN) – Geschäftsmodell: Einnahmequellen

Mögliche therapeutische Lizenzvereinbarungen

Ab dem vierten Quartal 2023 meldete Qualigen Therapeutics potenzielle Einnahmen aus Lizenzvereinbarungen im Zusammenhang mit seinen Arzneimittelkandidaten:

Arzneimittelkandidat	Potenzielle Lizenzeinnahmen	Status
RAS-F-Inhibitor	0 $ (Keine aktive Lizenzvereinbarung)	Präklinisches Stadium
QAPZZ-1 (Krebsbehandlung)	0 $ (Keine aktuellen Lizenzeinnahmen)	Klinische Phase-1-Studie

Forschungsstipendien und Finanzierung

Finanzdaten für Forschungsstipendien im Jahr 2023:

• Gesamte Forschungsfinanzierung: 1.022.000 US-Dollar
• Zuschüsse der National Institutes of Health (NIH): 450.000 US-Dollar
• Zuschüsse für Small Business Innovation Research (SBIR): 572.000 US-Dollar

Zukünftige Kommerzialisierung pharmazeutischer Produkte

Erwartetes Umsatzpotenzial für Pharmaprodukte:

Produkt	Geschätztes Marktpotenzial	Entwicklungsphase
FastPack-Diagnosesystem	0 $ (Keine aktuellen kommerziellen Einnahmen)	Forschungsphase
QN-165 (Krebsbehandlung)	0 $ (präklinisch)	Präklinische Entwicklung

Verbundforschungspartnerschaften

Finanzielle Details der Partnerschaft für 2023:

• Gesamtfinanzierung der Verbundforschung: 675.000 US-Dollar
• Anzahl aktiver Forschungspartnerschaften: 2
• Durchschnittlicher Partnerschaftswert: 337.500 $

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Value Propositions

Secured and diversified digital asset treasury management

You're looking at a corporate treasury actively shifting its composition into digital assets, aiming for significant scale by year-end 2025. The stated goal is to expand the C10 Treasury to $50 Million AUM by the end of 2025. As of October 17, the C10 Treasury had already completed $12 million in crypto asset allocations. This was formalized with a strategic partnership announced on October 23, 2025, with BitGo to execute a $30 million market-cap-weighted C10 treasury allocation, which specifically comprises the world's top 10 crypto assets, excluding stablecoins. This allocation follows an 80/20 passive/active split strategy. The infrastructure supporting this includes established USD settlement, bank accounts, and regulated cold custody via BitGo. This move signals a commitment to financial resilience through digital asset diversification.

Metric/Target	Value/Amount	Date/Status
Target C10 Treasury AUM (End 2025)	$50 Million	Goal for 2025
Completed Crypto Asset Allocations	$12 million	As of October 17, 2025
Committed Allocation via BitGo Partnership	$30 million	Announced October 23, 2025
Treasury Allocation Split (Passive/Active)	80% / 20%	Strategy Detail
Total Strategic Investment Secured (Sept 2025)	$41 million	Closed in September 2025

AI-optimized trading via the BesTrade DeAI Agent

The BesTrade DeAI Agent is positioned as the flagship product and the second engine of the Crypto Flywheel. This agent functions as a Meta Exchange, designed to intelligently connect users and value by optimizing transaction pathways and returns. You can expect the public beta version of the BesTrade DeAI Agent to launch by the end of November 2025, followed immediately by a global user growth campaign. This positions the product to become a top-tier AI trading platform.

Bridging the gap between Web2 capital markets and the Web3 ecosystem

The overall corporate vision, following the planned rebrand to AIxCrypto, is to become a leading U.S. public company converging Web2 and Web3, alongside AI and crypto. This bridging capability is supported by planned product development. The value proposition includes support from potential products like a C10 stablecoin and EAI + Crypto RWA dual-bridge products. These elements aim to build a sustainable on-chain value growth system, serving as the third engine of the Crypto Flywheel.

Potential for high-growth exposure to AI and crypto sectors

The entire strategy is structured around three core growth engines designed to maximize on-chain value growth. This structure is being capitalized by significant external funding. The company secured a transformative investment of $41 million in September 2025, with Faraday Future Intelligent Electric Inc. contributing approximately $30 million of that amount. This capital is earmarked to establish the new cryptocurrency treasury operations and advance the Web3 initiatives.

• C10 Treasury and C10 Index: Serving as the core reserve asset and the first engine.
• BesTrade DeAI Agent: Positioned as the nexus of users and value, the second engine.
• Ecosystem Tokens: The carrier of value maximization, the third engine.

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Customer Relationships

You're looking at the relationship structure for AIxCrypto Holdings, Inc., formerly Qualigen Therapeutics, Inc. (QLGN), following its major strategic pivot and rebranding in late 2025. This is a shift from a traditional biotech focus to an AI and Web3 platform, which fundamentally changes how the company interacts with its key customer/stakeholder groups.

Institutional relationship management with major investors like Faraday Future

The relationship with Faraday Future (FF) is now the dominant institutional anchor, moving from a simple investor to a controlling shareholder. This relationship dictates board composition and strategic direction.

• Faraday Future is the expected majority controlling shareholder with an estimated direct equity ownership of 55% (approximately 63% including affiliates).
• FF's initial investment via the PIPE was $30 million, securing this majority stake.
• FF has the right to nominate a majority of the board, with potential for four of seven seats upon full approval.
• FF Founder & Global Co-CEO YT Jia personally invested $4 million for about 7% ownership, subject to a two-year lockup.
• The company's cash position was bolstered to $38.8 million as of Q3 2025, following the $41 million investment from FF and others.

The nature of this relationship is one of active control and governance integration, far beyond standard passive investment management.

Automated, platform-driven service for BesTrade DeAI Agent users

For the new flagship product, the BesTrade DeAI Agent, the relationship model is designed to be largely automated and platform-driven, acting as a Meta Exchange.

The company plans to launch the public beta of the BesTrade DeAI Agent by the end of November 2025. The relationship is built around the agent intelligently optimizing transaction pathways for users.

Metric/Goal	Target/Value (End of 2025)	Context
BesTrade DeAI Agent Status	Public Beta Launch	Targeted for end of November 2025
Growth Engine Role	Second Engine of the Crypto Flywheel	Positioning as a top-tier AI trading platform
User Relationship Type	Automated/Platform-Driven	Optimization of transaction pathways and returns

If onboarding for the BesTrade DeAI Agent takes longer than expected past the end of November, churn risk rises defintely.

Direct communication with the Web3 community for token adoption

Direct communication focuses on establishing the new crypto ecosystem and driving adoption of its treasury and token products.

• The company aims to expand the C10 Treasury to $50 Million in Assets Under Management (AUM) by the end of 2025.
• As of October 17, 2025, the C10 Treasury had completed $12 million in crypto asset allocations.
• Communication includes releasing the EAI RWA Utility Token Whitepaper.
• The strategy involves building a sustainable on-chain value growth system via C10 stablecoin and EAI + Crypto RWA dual-bridge products.

Investor relations for a publicly traded company (QLGN/AIXC)

Investor relations is managing the transition from a biotech focus to the AIxCrypto identity, which involved significant corporate actions in late 2025.

The stockholder meeting on November 12, 2025, saw approximately 60.17% of voting stock represented. Key approvals included the issuance of 337,432 common shares and 39,943 Series B convertible preferred shares. The company officially rebranded to AIxCrypto Holdings, Inc. and began trading as AIXC on November 20, 2025.

Key financial metrics relevant to investor confidence in Q3 2025 include a net loss of $2.0 million, compared to a net loss of $1.8 million in Q3 2024, with zero revenue reported. The company also announced a partnership with BitGo to manage a $30 million market-cap-weighted C10 crypto treasury allocation.

Finance: draft 13-week cash view by Friday.

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Channels

Qualigen Therapeutics, Inc. uses several distinct channels to communicate with the financial market and execute strategic treasury operations as of late 2025.

For corporate filings and press releases, the company's engagement with the SEC and Nasdaq provides concrete data points regarding its compliance efforts and capital structure changes.

Financial/Regulatory Event	Date/Period	Associated Amount/Value
Gross Proceeds from Series A-3 Private Placement	July 28, 2025	$4,500,000
Shares of Series A-3 Preferred Stock Sold	July 28, 2025	4,500
Stated Value Per Share (Series A-3 Preferred Stock)	July 28, 2025	$1,000
Underlying Common Stock Issuance (Initial Conversion)	July 28, 2025	1,607,143 shares
Conversion Price Per Share (Initial)	July 28, 2025	$2.80
Nasdaq Stockholder's Equity Requirement (Compliance Target)	July 28, 2025	$2,500,000
Q1 2025 Form 10-Q Filing Date	July 21, 2025	N/A
Market Capitalization	July 28, 2025	6.53M
Stock Price (Current as of search)	November 18, 2025	3.21 USD

The channel involving institutional asset execution is formalized through a partnership with BitGo.

BitGo's institutional OTC desk for large-scale asset execution:

• Qualigen Therapeutics, Inc. committed $30 million to a market-cap-weighted C10 crypto basket on October 23, 2025.
• BitGo provides OTC execution and access to deep liquidity for this allocation.

Regarding the BesTrade DeAI Agent platform for user access to trading tools, no specific financial or statistical data is available.

Regarding leading global crypto exchanges for token listings and liquidity, no specific financial or statistical data is available.

Corporate filings and press releases to the financial market also involved prior compliance issues:

• Market Capitalization reported as $2.8M on April 1, 2025.
• Institutional Ownership reported as 0.72% as of May 19, 2025.
• Short Percent reported as 2.03% as of May 19, 2025.

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Qualigen Therapeutics, Inc. (QLGN) following its radical transformation into a Web3/crypto-focused enterprise, now planning to rebrand as AIxCrypto Holdings, Inc. (AIXC). Here is the breakdown based on the latest figures from late 2025.

Institutional investors seeking exposure to a managed crypto treasury

This segment is interested in the C10 Digital Asset Treasury, which began with a $30 million multi-asset allocation into the top 10 cryptocurrency assets, excluding stablecoins, secured via BitGo. As of September 18, 2025, the C10 Treasury had completed about $10 million in crypto asset allocations, delivering an unrealized gain of around 7% on that portion. The company ended Q3 2025 with $38.8 million in cash.

The institutional landscape shows 20 institutional owners and shareholders filing 13D/G or 13F forms with the SEC, holding a total of 53,442 shares as of November 18, 2025. The share price on that date was $3.21 / share.

Retail and professional crypto traders using the DeAI Agent

This group targets the planned BesTrade DeAI Agent, which is positioned as a core product to help users find the best trading paths and outcomes. While specific user adoption numbers for the DeAI Agent are pending launch, the general market context suggests a large potential pool. A recent Goldman Sachs report estimated that 38% of US stocks are now held directly by retail investors. Professional traders are a subset of this group, seeking algorithmic efficiency.

Web3 ecosystem participants and token holders

This segment engages with the third growth engine: ecosystem tokens, which covers C10 ecosystem tokens, a potential C10 stablecoin, and an EAI+Crypto Dual-Bridge RWA product. These participants are focused on the value maximization carried by these tokens within the new Web3 ecosystem build-up.

Legacy biotech shareholders navigating the strategic pivot

These are the existing shareholders who have held Qualigen Therapeutics, Inc. through its prior focus on cancer treatments, such as the QN-302 program. These shareholders are now exposed to the new crypto strategy following a $41 million PIPE financing led by Faraday Future (FF), which resulted in FF holding approximately 55% pro forma beneficial ownership. The company reported a net loss of $2.0 million for Q3 2025.

Key Financial and Operational Metrics as of Late 2025:

Metric	Value	Context/Date
Share Price	$3.21	November 18, 2025
Cash Balance	$38.8 million	End of Q3 2025
Faraday Future Ownership Stake	55%	Pro forma beneficial ownership post-PIPE
Total Crypto Treasury Allocation Target	$30 million	Multi-asset allocation
C10 Treasury Allocation Completed	$10 million	As of September 18, 2025
C10 Treasury Unrealized Gain (on completed portion)	7%	As of September 18, 2025
Q3 2025 Net Loss	$2.0 million	Q3 2025 Financial Results
Q3 2025 EPS	-$4.68	Q3 2025 Reported EPS

The shift in focus is clear, moving from a biotech pipeline to a three-pronged crypto/Web3 strategy: C10 Treasury, DeAI Agent, and Ecosystem Tokens.

• Institutional Owners Filing 13D/G or 13F: 20
• Total Institutional Shares Held: 53,442
• Estimated Retail Direct Stock Holding in US Market: 38%

Finance: draft updated 13-week cash view incorporating the $41 million investment by Monday.

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Cost Structure

You're looking at the cost side of the business as Qualigen Therapeutics, Inc. navigates a massive pivot, so the numbers reflect a transition period-some legacy costs are shrinking while new strategic investments are being funded by recent capital raises. Honestly, the cost structure is currently defined by the wind-down of the old and the initial setup for the new Web3/AI venture, which is now operating under the planned name AIxCrypto Holdings, Inc. (NASDAQ: AIXC) as of November 20, 2025.

The legacy biotech operations are clearly showing reduced spending, which is reflected in the R&D figures. For the three months ended March 31, 2025, Research and Development expenses were only $33,167, a sharp drop from the $364,385 reported for the same period in 2024. This reduction aligns with the stated cost control measures seen in earlier reports.

General and administrative (G&A) costs, however, have seen a significant increase, which you'd expect when undergoing major governance and executive changes. For the first quarter of 2025 (ended March 31, 2025), G&A expenses totaled $2,494,532, substantially higher than the $1,057,364 recorded in the first quarter of 2024. This increase covers the costs associated with the strategic shift, including the integration of new leadership like the incoming Co-CEO and CFO following the Faraday Future Intelligent Electric Inc. investment, which resulted in FF becoming the controlling shareholder.

The operating losses from the legacy biotech business are still a factor, though the company is trying to manage them. The Operating Income reported for the first quarter of 2025 was -$1.3 million. This reflects the ongoing burn rate before the full impact of the new strategy is realized, even as the company secured a $41 million PIPE financing in September 2025 to fund the new direction.

Regarding the digital asset custody and transaction fees, specifically for services like BitGo, the data is currently qualitative rather than quantitative. Qualigen Therapeutics, Inc. announced a partnership with BitGo on October 23, 2025, to execute its First Multi-Asset C10 Treasury Allocation. This indicates that transaction and custody fees are a new and emerging cost component tied to the C10 Digital Asset Treasury and RWA & Ecosystem Tokens business engine, but specific dollar amounts for these fees for late 2025 are not yet publicly itemized in the available statements.

Here's a quick look at the key expense line items from the Q1 2025 filing:

Expense Category	Amount for Three Months Ended March 31, 2025
General and administrative	$2,494,532
Research and development	$33,167
Operating Loss (Q1 2025)	-$1,300,000

The costs associated with the Web3 platform build-out-the DeAI Agent trading platform and the RWA tokenization-are being absorbed by the new capital, rather than being clearly delineated as a separate expense line item in the legacy structure yet. You can infer that the capital infusion is intended to cover these future development costs:

• The $41 million PIPE financing is earmarked to establish the new crypto business adventure.
• The new business will focus on three growth engines: C10 Digital Asset Treasury, DeAI Agent trading platform, and RWA & Ecosystem Tokens.
• The company's cash balances were expected to fund operations only into the third quarter of 2025 before the financing closed, highlighting the critical nature of this capital to sustain new development.

The shift in governance and executive structure is a direct driver of the elevated G&A. The new structure involves Faraday Future nominating a majority of board seats. It's defintely a cost of transition.

Finance: draft 13-week cash view by Friday.

Qualigen Therapeutics, Inc. (QLGN) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Qualigen Therapeutics, Inc. (QLGN) as of late 2025, which, honestly, is a story of transition. The company's reported revenue for the third quarter of 2025 was $0. This mirrors the annual revenue for the last reported fiscal year, which was also $0. The near-term focus for generating financial inflow is clearly shifting toward capital events and the new digital asset strategy.

Appreciation and compounding gains from the C10 Digital Asset Treasury

The C10 Digital Asset Treasury is a core component of the new strategy, aiming to accumulate and compound a market-cap-weighted basket of the world's top 10 crypto assets, excluding stablecoins. As of September 2025, the C10 Treasury had completed about $10 million in crypto asset allocations. A subsequent mention indicated a $30 million multi-asset allocation in partnership with BitGo. The allocation strategy is set at 80% passive tracking the C10 Index and 20% active selection with quantitative analysis and planned hedging. As of October 18, 2025, the C10 Treasury delivered an unrealized gain of around 7%, outperforming the C10 index overall. This unrealized gain represents potential future revenue or balance sheet appreciation, not realized operating revenue.

Trading fees and commissions generated by the BesTrade DeAI Agent

The BesTrade DeAI Agent is positioned as an AI-powered crypto trading agent designed to help market participants find the best paths and outcomes. While this product is a planned growth engine, the search results do not provide specific, realized financial figures for trading fees or commissions generated by the BesTrade DeAI Agent as of late 2025. The focus seems to be on establishing the infrastructure for this engine.

Potential revenue from the issuance and utility of Crypto Ecosystem Tokens

This third growth engine includes potential products like the C10 Stablecoin and the EAI + Crypto Dual-Bridge RWA (Real World Asset) product. These tokens and products are intended to be the carrier of value maximization within the ecosystem. However, concrete, realized revenue figures from the issuance or utility of these Crypto Ecosystem Tokens are not available in the latest reports.

Future capital raises, such as the $4.5 million private placement in July 2025

Capital raises are a significant source of current funding, supporting operations and the new crypto venture. The company closed a $4.5 million private placement of Series A-3 Preferred Stock on July 28, 2025, issuing 4,500 shares at $1,000 per share. This raise helped the company regain compliance with Nasdaq's minimum stockholders' equity requirement of $2.5 million. More significantly, in September 2025, Qualigen Therapeutics secured a $41 million PIPE financing led by Faraday Future. This larger investment is intended to fund the majority of the new crypto business adventure.

Here's a quick look at the key funding and treasury allocation numbers we have:

Financial Event/Metric	Amount/Value	Date/Period
Q3 2025 Reported Revenue	$0	Q3 2025
July 2025 Private Placement Gross Proceeds	$4.5 million	July 2025
September 2025 PIPE Financing Proceeds	$41 million	September 2025
Faraday Future Investment Amount	$30 million	September 2025
YT Jia Personal Investment Amount	$4 million	September 2025
C10 Treasury Initial Crypto Allocation	Approx. $10 million	As of September 2025
C10 Treasury Multi-Asset Allocation (BitGo)	$30 million	October 2025
C10 Treasury Unrealized Gain (Pre-Allocation)	Approx. 7%	As of October 18, 2025
Marizyme Partnership Funding Secured	$4.1 million	Q3 2025

The shift in focus is clear, and the immediate financial support comes from equity financing, not product sales yet. You should keep an eye on the following operational milestones that will translate these investments into revenue:

• Establishment of the C10 Digital Asset Treasury infrastructure with BitGo.
• Progress on the BesTrade DeAI Agent as the nexus between users and value.
• Filing of the registration statement for the underlying common shares from the July placement within 45 days of the July 28, 2025 closing date.
• The company's plan to maintain Nasdaq compliance over the next 12 months.

The Series A-3 Preferred Stock from July 2025 is initially convertible into an aggregate of 1,607,143 shares of common stock at a conversion price of $2.80 per share.

Finance: draft 13-week cash view by Friday.