Shares of Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) are rallying Friday morning following back-to-back pre-market updates detailing positive clinical trial results and a major institutional financing package.
- Quoin Pharmaceuticals shares are climbing with conviction. What’s behind QNRX gains?
Positive Phase 2/3 Interim Data for QRX003 Met Primary Endpoint
Early market enthusiasm centers on positive interim results from the company’s CL-QRX003-004 Phase 2/3 trial evaluating QRX003 4% lotion in patients with Netherton Syndrome.
An interim analysis of the first six patients to complete 12 weeks of treatment showed that 66.7% (4 of 6) achieved the target 1-grade or greater improvement in Investigator Global Assessment, meeting the pre-specified statistical significance threshold with a p-value of 0.0087.
Additionally, all three participants with moderate-to-severe itch at baseline achieved a clinically meaningful 3-grade or greater improvement on the Worst Itch Numeric Rating Scale, with no treatment-related serious adverse events reported.
Quoin expects to complete patient recruitment by the end of 2026 and release full topline data in the second quarter of 2027 as it aims to secure the first FDA-approved treatment for Netherton Syndrome.
Up To $50 Million Private Placement Extends Cash Runway Into 2029
Parallel to its clinical updates, Quoin announced a securities purchase agreement with healthcare-focused institutional investors to raise up to $50 million in gross proceeds.
The transaction includes an initial upfront funding of approximately $30.8 million alongside potential cash exercises of accompanying warrants for up to an additional $19.2 million.
Combined net proceeds are expected to fund company operations into the second half of 2029.
QNRX Stock Surges Friday
QNRX Price Action: Quoin Pharmaceuticals shares were trading higher by 51.99% at $7.84 at the time of publication on Friday, according to Benzinga Pro data.
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