Quoin Pharmaceuticals Announces Positive Clinical Data; Reports Q2 2023 Financial Results

Quoin Pharmaceuticals (Nasdaq: QNRX) has announced positive clinical data for the first subject to complete its ongoing open label clinical study in Netherton Syndrome patients. The company has also reported its Q2 2023 financial results and provided a business update.

Quoin is evaluating its lead product candidate, QRX003, as a potential treatment for Netherton Syndrome, a rare and devastating genetic disease. The company said QRX003 is demonstrating an exemplary safety profile across both of its ongoing clinical studies.

Highlights

  • As determined by the clinical Investigator, the subject’s skin was assessed to be fully clear at the QRX003 treatment sites on completion of the study. The subject’s skin was also assessed to be clear by a well-recognized visual scoring index.
  • The subject also demonstrated key improvements across all other clinical endpoints, including pruritus (itching).
  • Quoin’s two ongoing clinical studies are on track to have a majority of patients enrolled by the end of August 2023.
  • Quoin had approximately $15.4 million in cash, cash equivalents and marketable securities as of June 30, 2023.The company expects its cash runway to extend well into 2H 2024.
  • Net loss for the quarter ended June 30, 2023 was approximately $2.1 million compared to approximately $2.7 million for the quarter ended June 30, 2022.

 About Quoin Pharmaceuticals

Quoin Pharmaceuticals Ltd. is a 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, Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa and others. For more information, visit: www.quoinpharma.com or LinkedIn for updates.

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Quoin Pharmaceuticals Announces Positive Clinical Data; Reports Q2 2023 Financial Results

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