Quoin Pharmaceuticals, Ltd.

Quoin Pharmaceuticals, Ltd. is a U.S.-based specialty pharmaceutical company focused on developing proprietary therapies for rare and orphan diseases. Its lead program, QRX003, is a topical lotion based on a broad-spectrum serine protease inhibitor and the company’s proprietary Invisicare® technology, with development and planned commercialization activities spanning the United States and selected international markets.

3.61

3.61

— Quoin Pharmaceuticals, Ltd.
%
Lead therapeutic candidate100% QRX003 and related clinical development work for rare dermatology indications.
Drug delivery technology0% Proprietary Invisicare® formulation platform used to support topical product performance.
Development-stage pipeline0% Additional rare-disease product candidates and in-licensed programs under evaluation.

Quoin does not yet sell commercial products, so its near-term “customers” are primarily regulators, clinical...

  • Regulatory agenciesprimary

    FDA, EMA, and other authorities that review clinical data and marketing applications for QRX003.

  • Clinical trial sites and investigatorsprimary

    Hospitals and specialists that enroll and treat patients in late-stage studies of QRX003.

  • Commercial partnerssecondary

    Distribution, licensing, and regional commercialization partners in non-core territories.

  • Rare-disease physicians and patientsprimary

    Specialists and patients who would use approved therapies for Netherton Syndrome and similar orphan indications.

Quoin is headquartered in the United States and is building a commercialization plan that includes the U.S...

  • •Headquartered in the United States
  • •Planned commercialization in the U.S., Europe, and Japan
  • •Partner-led distribution in Canada and Australia/New Zealand
  • •Additional territories include the Middle East and Asia
  • •Rare-disease markets are fragmented and require local access

The company’s strategy centers on completing late-stage development of QRX003, securing marketing approvals, and...

01
Complete clinical development of QRX003short-term

Approval depends on successful late-stage data in Netherton Syndrome.

02
Prepare commercialization infrastructuremedium-term

Approved orphan drugs require specialized sales and distribution capabilities.

03
Broaden the pipelinemedium-term

A single-asset profile increases concentration risk and limits long-term optionality.

Quoin is exposed to the typical risks of a development-stage pharmaceutical company: clinical failure, regulatory...

critical

Clinical development failure for QRX003

The company’s value depends heavily on late-stage success in Netherton Syndrome.

Scope
Lead asset concentration
Materiality
high
critical

Financing and dilution risk

The company expects to fund operations through external capital until commercialization.

Scope
Equity, debt, collaborations, grants
Materiality
high
high

Regulatory delay or rejection

Marketing approval is required before product sales can begin.

Scope
FDA, EMA, and other foreign regulators
Materiality
high
high

Nasdaq delisting risk

Failure to meet continued listing standards could reduce liquidity and investor access.

Scope
ADS trading on Nasdaq Capital Market
Materiality
medium
medium

Commercial execution risk

Rare-disease launches require specialized sales, distribution, and reimbursement access.

Scope
U.S., Europe, Japan, and partner territories
Materiality
medium
Research and development expense timing
Quarterly operating losses can swing with trial activity
Stock-based compensation
Affects operating expenses and comparability across periods
Fair value of investments
Impacts other income and reported net loss
Going-concern disclosure
Important for liquidity assessment and financing assumptions

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: 29/04/2026