ASHBURN, Va. - Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX), a small-cap biotech company with a market capitalization of $3.5 million, shared additional positive interim clinical data from an ongoing Netherton Syndrome study. A subject dosed twice daily with QRX003, a topical lotion, showed significant improvement across all clinical endpoints after 12 weeks, building on earlier positive results at the 6-week midpoint. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics, despite showing significant price volatility over the past year.
The study data indicated improvements in the Modified Ichthyosis Area of Severity Index (M-IASI), the Worst Itch Numeric Rating Scale (WINRS), and the Investigator's Global Assessment (IGA). The subject's skin condition progressed from moderate to almost clear, with patient satisfaction scores also reflecting positive outcomes. Throughout the study, no safety concerns arose.
Quoin CEO, Dr. Michael Myers, expressed enthusiasm for the continued favorable findings and the potential efficacy of QRX003 for treating Netherton Syndrome. The company anticipates the forthcoming 'whole body' clinical study led by Dr. Amy Paller at Northwestern (NASDAQ:NWE) University. This study, approved by the FDA in December, is expected to contribute significantly to the data supporting a New Drug Application (NDA) for QRX003. Analysts maintain a bullish outlook, with price targets ranging from $1.50 to $10.00 per share, significantly above the current trading price of $0.70.
Netherton Syndrome is a rare genetic skin disorder with no current cure or approved treatments, characterized by severe skin barrier defects, recurring infections, and a high predisposition to allergies and other ailments. QRX003 aims to normalize the skin-shedding process and strengthen the skin barrier by performing the function of a missing protein, LEKTI.
Quoin focuses on developing treatments for rare and orphan diseases, with a pipeline targeting various indications. The company's commitment to addressing unmet medical needs is underscored by its ongoing research and development efforts.
This report is based on a press release statement from Quoin Pharmaceuticals. For deeper insights into QNRX's financial health, valuation metrics, and expert analysis, access the comprehensive Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with detailed financial analysis and actionable intelligence.
In other recent news, Quoin Pharmaceuticals has announced the terms for a public offering of securities, expecting to generate gross proceeds of roughly $6.8 million. The offering includes ordinary shares and warrants to purchase additional shares. Maxim (NASDAQ:MXIM) Group LLC is the sole placement agent for the offering. Quoin plans to use the net proceeds for general corporate purposes, including operational expenses, research and development, and potential acquisitions.
The company has made substantial progress in its Netherton Syndrome study, with the U.S. Food and Drug Administration approving an additional clinical study for QRX003. This marks the most extensive application of QRX003 in a clinical setting to date. Quoin has also expanded its clinical trials to include new sites in the United Kingdom (TADAWUL:4280).
Quoin Pharmaceuticals has made amendments to shareholder rights and adjusted executive compensation programs. The shareholders approved compensation programs for CEO Dr. Michael Myers and COO Denise Carter, aligning with the company's Compensation Policy.
Quoin Pharmaceuticals has also been granted an additional 180-day period by The Nasdaq Stock Market LLC to meet its minimum bid price requirement, based on compliance with all other Nasdaq Capital Market initial listing standards. The company is actively exploring options to regain compliance with Nasdaq's listing requirements.
These are the recent developments surrounding Quoin Pharmaceuticals.
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