Qualigen Therapeutics (NASDAQ:AIXC) outlined plans to prioritize the commercial launch of its RoboShare robot-rental marketplace during the second half of 2026, while management also highlighted constrained liquidity and a lower quarterly operating cost base.
During the company’s second-quarter earnings call, CEO Jerry Wang said RoboShare has become AIXC’s top operating and commercialization priority. The company is preparing a Los Angeles pilot for the marketplace, which is designed to connect robot owners with enterprises, educational institutions and other users seeking access to robotic equipment and services.
Los Angeles Pilot Targeted for August
Preparations for the Los Angeles launch include local sales, customer service, dispatch, warehouse and delivery logistics, operating training and standardized procedures, Wang said. The company is onboarding robots from third-party owners and its existing installed base for marketplace listings.
Initial marketplace-facilitated rental activity is targeted to begin in August, subject to operational readiness and execution. Management said revenue opportunities could begin early in the third quarter, although recognized revenue will depend on applicable accounting requirements.
During the first approximately 90 days of the pilot, AIXC plans to track cumulative rental days, repeat customer activity, per-order economics and operating readiness. Those results will guide decisions on potential expansion into other markets, including Silicon Valley and New York, as well as further development of the City Partner program.
Wang said the company’s broader strategy rests on the view that the constraint in the robotics economy is the user and operating layer rather than the hardware itself. RoboShare is intended to address shortages of specialists needed for robot operation, transport and servicing.
Second-Life Model and AI Initiatives
AIXC also introduced what it calls the Robot Second Life Cycle, a model intended to extend the value of robots after their initial sale. Previously sold robots and third-party-owned machines may be added as rental supply, allowing marketplace expansion without requiring additional company investment in equipment, management said.
The company expects rental activity to create records related to machine identity, usage, servicing and transactions. Over time, those records could support inspection, valuation and recirculation standards for a future pre-owned robot business, according to Wang.
Meanwhile, AIXC continued internal testing of certain AI Agent capabilities during the quarter, focusing on workflow integration, optimization opportunities and vertical use cases. The company is also pursuing selected proof-of-concept initiatives through strategic partnerships, including its relationship with Faraday Future.
However, Wang said the company’s EAI Platform and real-world asset tokenization efforts are now sequenced behind RoboShare. He said the timelines previously communicated in May should no longer be relied upon because the company is concentrating its resources on the robot-sharing marketplace and ground-based robotics.
Expenses Declined From First Quarter
President and CFO Jay Sheng reported second-quarter operating expenses of $2.96 million, compared with $4.33 million in the first quarter and $1.68 million in the year-earlier quarter. General and administrative expense totaled $2.87 million, including a non-recurring director resignation fee of $394,000 and $99,000 of fees under a master service agreement with Faraday Future, AIXC’s majority stockholder.
Sales and marketing expense fell to $86,000 from $638,000 in the first quarter. Sheng said first-quarter spending included front-loaded brand-launch investment, while second-quarter costs reflected a deliberate reallocation toward RoboShare operations.
- Net loss was $4.19 million, compared with $6.08 million in the first quarter and $1.69 million in the prior-year quarter.
- Net loss per basic and diluted share was $0.21 for the quarter.
- Total other expense was $1.23 million, including a $984,000 unrealized loss on digital assets.
- The company did not purchase or sell digital assets during the second quarter, Sheng said.
At June 30, AIXC reported cash and cash equivalents of $577,000 and digital assets with a fair value of $5.2 million, for a combined carrying value of roughly $5.8 million. Total assets were $7.4 million, including $685,000 in capitalized software development in progress.
Liquidity Remains Constrained
Sheng said liquidity remains constrained and that the company is carefully evaluating capital resources to support ongoing operations and commercialization. Operating cash use was approximately $3.4 million in the second quarter, versus approximately $4.5 million in the first quarter, according to management.
Total current liabilities declined to $1.7 million at June 30 from $3.3 million at year-end. Related-party payables declined to approximately $237,000 from $1.65 million at Dec. 31, 2025.
AIXC had 20.23 million shares outstanding at June 30, unchanged from March 31. Wang said the company issued no new shares during the quarter, with no conversions, warrant exercises or other share issuances. Sheng also said the company had no outstanding debt as of Aug. 7.
Management said future spending will prioritize RoboShare commercialization and core operating needs, while the pace of pilot hiring and broader expansion will depend on liquidity, operational readiness and pilot performance. The company did not provide specific full-year revenue, net loss or operating-expense guidance.
About Qualigen Therapeutics (NASDAQ:AIXC)
Qualigen Therapeutics, Inc, a biotechnology company, develops novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a rapid diagnostic testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, a DNA coated gold nanoparticle cancer drug candidate that targets various cancers; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that blocks RAS mutations and inhibits tumor formation; and STARS blood cleansing system, a DNA/RNA-based treatment device that removes tumor-produced compounds and viruses from a patient’s blood.
