BUZZ-Qualigen jumps on announcing $30 mln crypto treasury partnership with BitGo

Reuters10-24

** Shares of drugmaker Qualigen Therapeutics QLGN.O rise 83% to $6.45 premarket

** Co late on Thursday said it partnered with digital asset infrastructure company BitGo to manage a $30 mln crypto treasury allocation

** BitGo to provide custody and desk services for investment and management of digital assets - QLGN

** Co said strategy involves investing in top 10 cryptocurrencies, excluding stablecoins

** QLGN, majority-owned by EV startup Faraday Future FFAI.O, says "partnership with BitGo allows us to further diversify our corporate treasury with digital assets, reflecting our commitment to both financial resilience and leadership in the evolving digital economy"

** In September, FFAI and QLGN partnered to launch a crypto and Web3 business

** Up to last close, stock down ~16% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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