Quoin Pharmaceuticals Ltd. (QNRX) reports news about a late clinical-stage specialty pharmaceutical company developing therapies for rare and orphan diseases. Updates center on QRX003 lotion for Netherton Syndrome and related rare skin disorders, including clinical-study progress and U.S. and European orphan, rare pediatric disease and fast track regulatory designations.
Company news also covers QRX009 topical rapamycin development programs, rare dermatologic and genetic disease research, quarterly financial results, private-placement financing and distribution or commercialization arrangements for potential international markets.
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Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced the dosing of the first patient in its open-label clinical trial for QRX003 targeting Netherton Syndrome. This study evaluates the safety and efficacy of QRX003 in patients receiving off-label systemic therapy over a twelve-week period. Various clinical endpoints will be assessed, including Investigator Global Assessment and Patient Global Assessment. Concurrently, Quoin is also running a double-blind vehicle-controlled study for QRX003. The company expects to report topline data from this trial in the latter half of 2023. These efforts position QRX003 as a potential standard of care for Netherton patients.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced the dosing of the first patient in a double-blinded clinical trial for QRX003 targeting Netherton Syndrome. The company initiated a second trial assessing QRX003 in patients on off-label therapy, cleared by the FDA. Quoin partnered with Queensland University of Technology to advance dermatological research, aiming for clinical testing by late 2023. Financially, Quoin reported a net loss of approximately $9.4 million for 2022, with $12.9 million in cash. A recent public offering raised $6 million, extending the cash runway into the second half of 2024, crucial for development efforts.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) will release its 2022 fourth quarter and year-end financial results on March 8, 2023, after market close. A conference call and webcast are scheduled for March 9, 2023, at 8:30 AM ET to discuss these results. Investors can join the call by calling 1-877-270-2148 domestically or 1-412-902-6510 internationally. Quoin focuses on developing therapeutic products for rare and orphan diseases, with a pipeline including treatments for conditions like Netherton Syndrome and Epidermolysis Bullosa. For more details, visit their official website.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced the pricing of a public offering featuring 24,750,000,000 ordinary shares priced at $1.00 per American Depositary Share (ADS) and pre-funded warrants for 10,250,000,000 ordinary shares at $0.9999 each. The offering aims to raise approximately $7.0 million before expenses, expected to close on February 24, 2023. The company will utilize the net proceeds for general corporate purposes. Additionally, Quoin will amend outstanding warrants from a previous offering, reducing their exercise price from $5.00 to $1.10 per ADS, set to expire on February 24, 2028.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced that its second clinical study for QRX003, a potential treatment for Netherton Syndrome, has been cleared by the FDA to initiate testing. The first patient has been dosed in the ongoing trial, which assesses the safety and efficacy of QRX003 versus a vehicle lotion over 12 weeks. All six target clinical sites are expected to be fully operational by the end of the year, accelerating patient recruitment for both studies. The company aims to address the unmet needs of Netherton patients, a rare and sometimes fatal disease.
Quoin Pharmaceuticals (QNRX) has recently completed a public offering, raising $16.8 million in gross proceeds. The majority of clinical sites for evaluating QRX003 in Netherton Syndrome are now open, with plans for a second trial for patients on off-label treatment. An international partnership with Endo Ventures for commercialization in Canada has been signed, extending coverage to 60 countries. As of Q3 2022, Quoin reported a net loss of $3 million and operating expenses of $2.3 million, ending the quarter with $15.2 million in cash and marketable securities.
Quoin Pharmaceuticals Ltd. announced a conference call for its third quarter 2022 business update, scheduled for November 10, 2022, at 10:00 a.m. ET. The call will follow the release of the company's financial results, which will be issued before the market opens on the same day. Investors can participate by calling either 1-877-270-2148 (domestic) or 1-412-902-6510 (international). The live and archived webcast will be accessible on the Quoin Pharmaceuticals website.