Quoin Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Rule

Rhea-AI Summary

Quoin Pharmaceuticals (NASDAQ: QNRX), a late clinical stage specialty pharmaceutical company, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, which focuses on developing treatments for rare and orphan diseases, received official confirmation from Nasdaq's Listing Qualifications Department.

The achievement was marked by the company's ordinary shares maintaining a closing bid price of $1.00 or higher for 13 consecutive business days, meeting the criteria under Nasdaq Listing Rule 5550(a)(2). With this requirement satisfied, Nasdaq has formally closed the matter, ensuring Quoin's continued listing on the exchange.

Positive

• Regained Nasdaq compliance by maintaining $1.00+ share price for 13 consecutive days
• Removal of delisting risk from Nasdaq

Negative

• None.

ASHBURN, Va., April 30, 2025 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a late clinical stage, specialty pharmaceutical company focused on the development and commercialization of therapeutic products that treat rare and orphan diseases, today announces that it has received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).

The notification from Nasdaq confirms that for the last 13 consecutive business days, the closing bid price of the Company’s ordinary shares was at or above $1.00 per share. Accordingly, Nasdaq considers the matter closed.

About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is a late clinical-stage specialty pharmaceutical company focused on developing and commercializing therapeutic products that treat rare and orphan diseases. We are committed to addressing unmet medical needs for patients, their families, communities and care teams. Quoin’s innovative pipeline comprises four products in development that collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, SAM Syndrome,  Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa, Microcystic Lymphatic Malformations, Venous Malformations, Angiofibroma and others. For more information, visit: www.quoinpharma.com or LinkedIn for updates.

Cautionary Note Regarding Forward Looking Statements
The Company cautions that statements in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances, such as “expect,” “intend,” “hope,” “plan,” “potential,” “anticipate,” “look forward,” “believe,” “may,” and “will,” among others. All statements that reflect the Company’s expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to: Quoin’s products in development collectively having the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, SAM Syndrome,  Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa, Microcystic Lymphatic Malformations, Venous Malformations, Angiofibroma and others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, the Company’s ability to deliver a safe and effective treatment for Netherton Syndrome; whether the Company’s studies successfully generate data that is sufficiently robust and comprehensive to support an NDA filing for QRX003 as an approved treatment for Netherton Syndrome; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in other filings the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

For further information, contact:
Quoin Pharmaceuticals Ltd.
Michael Myers, Ph.D., CEO
mmyers@quoinpharma.com

Investor Relations
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
(646) 863-6341

FAQ

What minimum bid price did QNRX need to meet for Nasdaq compliance in 2025?

QNRX needed to maintain a minimum bid price of $1.00 per share. The company successfully maintained this price for 13 consecutive business days, meeting Nasdaq Listing Rule 5550(a)(2) requirements.

How long did Quoin Pharmaceuticals (QNRX) maintain the required stock price for Nasdaq compliance?

Quoin Pharmaceuticals maintained its closing bid price at or above $1.00 per share for 13 consecutive business days, as confirmed by Nasdaq's Listing Qualifications Department in April 2025.

What happens now that QNRX has regained Nasdaq compliance?

Now that QNRX has regained compliance with Nasdaq's minimum bid price requirement, Nasdaq considers the matter closed, allowing the company to continue its normal listing on the exchange.

What is Quoin Pharmaceuticals' main business focus as of 2025?

Quoin Pharmaceuticals is a late clinical stage, specialty pharmaceutical company focused on developing and commercializing therapeutic products for rare and orphan diseases.

When did Quoin Pharmaceuticals receive Nasdaq compliance confirmation?

Quoin Pharmaceuticals received written confirmation of Nasdaq compliance on April 30, 2025, from the Nasdaq Stock Market's Listing Qualifications Department.