Quoin Pharmaceuticals Ltd Financials
This page shows Quoin Pharmaceuticals Ltd (QNRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Capital raises fund an intensifying development effort while operating cash use expands alongside research spending.
From FY2024 to FY2025, research and development spending climbed from$3.6M to$9.8M , while operating cash flow worsened from-$7.9M to-$13.5M . The combination indicates that development activity—not revenue growth—is currently the dominant operating mechanic, with accounting losses widening as investment accelerates.
FY2025 financing cash flow of
Liabilities changed little from FY2024 to FY2025 while equity increased, and the debt-to-equity ratio fell from 0.7x to 0.6x as the current ratio held at 3.6x. With no revenue reported in the available annual rows, the statements primarily describe a development-stage cost and financing model, not commercial operating efficiency.
Financial Health Signals
Quoin Pharmaceuticals Ltd does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Quoin Pharmaceuticals Ltd passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Quoin Pharmaceuticals Ltd reported a net loss of $15.8M while operations used $13.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Quoin Pharmaceuticals Ltd reported -$15.8M in net income in fiscal year 2025. This represents a decrease of 75.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Quoin Pharmaceuticals Ltd held $3.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Quoin Pharmaceuticals Ltd's ROE was -120.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 22.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Quoin Pharmaceuticals Ltd invested $9.8M in research and development in fiscal year 2025. This represents an increase of 172.1% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
QNRX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $3.6M+5.6% | $3.4M | N/A | $2.3M+11.2% | $2.1M-13.6% | $2.4M | N/A | $1.1M |
| SG&A Expenses | $1.8M+8.8% | $1.7M | N/A | $1.7M-0.2% | $1.7M+10.1% | $1.6M | N/A | $1.4M |
| Net Income | -$5.4M-7.5% | -$5.0M | N/A | -$3.9M-6.8% | -$3.7M+3.0% | -$3.8M | N/A | -$2.3M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Operating Income, Interest Expense, Income Tax, EPS (Diluted).
QNRX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.0M-23.7% | $15.7M-23.0% | $20.4M+217.4% | $6.4M-27.9% | $8.9M-31.2% | $13.0M-17.5% | $15.7M+37.9% | $11.4M |
| Current Assets | $11.6M-24.1% | $15.3M-23.4% | $20.0M+232.6% | $6.0M-29.1% | $8.5M-32.1% | $12.5M-16.3% | $14.9M+42.2% | $10.5M |
| Cash & Equivalents | $3.8M+23.1% | $3.1M-18.2% | $3.8M+108.5% | $1.8M+9.7% | $1.7M-56.3% | $3.8M+5.5% | $3.6M+16.3% | $3.1M |
| Total Liabilities | $8.0M+16.1% | $6.9M-4.8% | $7.3M-4.8% | $7.6M+20.1% | $6.4M-9.5% | $7.0M+8.1% | $6.5M+9.4% | $5.9M |
| Current Liabilities | $6.6M+23.7% | $5.3M-3.6% | $5.5M-3.8% | $5.8M+32.9% | $4.3M-10.7% | $4.9M+16.1% | $4.2M+20.4% | $3.5M |
| Total Equity | $3.9M-55.2% | $8.8M-33.1% | $13.1M+1180.2% | -$1.2M-147.6% | $2.6M-56.9% | $5.9M-35.6% | $9.2M+69.2% | $5.4M |
| Retained Earnings | -$81.3M-7.1% | -$76.0M-7.0% | -$71.0M-6.5% | -$66.6M-6.3% | -$62.7M-6.3% | -$59.0M-6.9% | -$55.2M-4.4% | -$52.9M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
QNRX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.1M+35.4% | -$4.9M+3.3% | -$5.0M-126.2% | -$2.2M+39.6% | -$3.7M-42.1% | -$2.6M-16.0% | -$2.2M-2.6% | -$2.2M |
| Investing Cash Flow | $4.0M-2.5% | $4.1M+136.6% | -$11.3M-544.0% | $2.5M+50.8% | $1.7M-39.3% | $2.8M+187.2% | -$3.2M-222.2% | $2.6M |
| Financing Cash Flow | -$152K-371.4% | $56K-99.7% | $18.3M+12294.1% | -$150K0.0% | -$150K-753.4% | $23K-99.6% | $5.9M+4050.5% | -$150K |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
QNRX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -136.6%-79.6pp | -57.0% | N/A | N/A | -144.9%-80.5pp | -64.3% | N/A | -43.2% |
| Return on Assets | -44.9%-13.0pp | -31.9% | N/A | -61.5%-20.0pp | -41.5%-12.0pp | -29.4% | N/A | -20.6% |
| Current Ratio | 1.76-1.1x | 2.87-0.7x | 3.61+2.6x | 1.04-0.9x | 1.95-0.6x | 2.57-1.0x | 3.57+0.5x | 3.02 |
| Debt-to-Equity | 2.04+1.3x | 0.79+0.2x | 0.55 | N/A | 2.49+1.3x | 1.19+0.5x | 0.71-0.4x | 1.09 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Quoin Pharmaceuticals Ltd Ranks
Frequently Asked Questions
Is Quoin Pharmaceuticals Ltd profitable?
No, Quoin Pharmaceuticals Ltd (QNRX) reported a net income of -$15.8M in fiscal year 2025.
What is Quoin Pharmaceuticals Ltd's return on equity (ROE)?
Quoin Pharmaceuticals Ltd (QNRX) has a return on equity of -120.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Quoin Pharmaceuticals Ltd's operating cash flow?
Quoin Pharmaceuticals Ltd (QNRX) recorded an outflow of $13.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Quoin Pharmaceuticals Ltd's total assets?
Quoin Pharmaceuticals Ltd (QNRX) had $20.4M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Quoin Pharmaceuticals Ltd spend on research and development?
Quoin Pharmaceuticals Ltd (QNRX) invested $9.8M in research and development during fiscal year 2025.
What is Quoin Pharmaceuticals Ltd's current ratio?
Quoin Pharmaceuticals Ltd (QNRX) had a current ratio of 3.61 as of fiscal year 2025, which is generally considered healthy.
What is Quoin Pharmaceuticals Ltd's debt-to-equity ratio?
Quoin Pharmaceuticals Ltd (QNRX) had a debt-to-equity ratio of 0.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Quoin Pharmaceuticals Ltd's return on assets (ROA)?
Quoin Pharmaceuticals Ltd (QNRX) had a return on assets of -77.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Quoin Pharmaceuticals Ltd's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Quoin Pharmaceuticals Ltd (QNRX) held $18.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $13.5M over that year. Dividing the one by the other, the reported balance equals about 17 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Quoin Pharmaceuticals Ltd's Piotroski F-Score?
Quoin Pharmaceuticals Ltd (QNRX) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Quoin Pharmaceuticals Ltd's earnings high quality?
Quoin Pharmaceuticals Ltd (QNRX) reported a net loss of $15.8M while operations used $13.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.