Quoin prices $50 million private placement, reports positive Netherton Syndrome data

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) said on August 28, 2026 that it entered a securities purchase agreement with new and existing institutional investors to raise up to approximately $50.0 million in gross proceeds, including initial upfront funding of approximately $30.8 million and up to an additional approximately $19.2 million upon the potential cash exercise of accompanying ordinary warrants at the election of the investors.¹

Participating investors include Sirenia Capital Management LP, Sphera Healthcare, AIGH Capital Management, Nantahala Capital, StemPoint Capital LP, and Stonepine Capital Management, among others, as well as members of the Company's management team and Board of Directors.¹ Leerink Partners is acting as lead placement agent, with BTIG and Lake Street Capital Markets serving as co-placement agents.¹

The company will issue 6,305,300 American Depositary Shares (or pre-funded warrants in lieu thereof) and accompanying ordinary warrants to purchase up to an aggregate of 3,152,650 ADSs, at a combined purchase price of $4.88 per ADS.¹ The ordinary warrants carry an exercise price of $6.10 per ADS, expiring the earlier of five years from closing or 30 days after Quoin announces that the primary endpoint has been met in trial CL-QRX003-004 for Netherton Syndrome.¹ Closing is expected on or about August 31, 2026, subject to customary closing conditions,¹ and Quoin said net proceeds are expected to be sufficient to fund the Company into the second half of 2029.¹

Separately, Quoin reported interim results from CL-QRX003-004, described as its ongoing Phase 2/3 study of QRX003 4% lotion in patients with Netherton Syndrome.¹ Among the first six participants to complete 12 weeks of treatment, the study met its primary endpoint with statistical significance.¹ Specifically, four of six (66.7%) participants achieved the target 1-grade or greater improvement across all of the treatment area in Investigator Global Assessment from baseline at Week 12 (95% CI: 22.28%, 95.67%), p=0.0087 against a pre-specified alpha of 0.0215.¹ On safety, no treatment-related serious adverse events were reported, and no clinically significant ECG, laboratory, or vital sign abnormalities were identified.¹

Quoin said it expects to complete recruitment of all 20 participants in CL-QRX003-004 by the end of 2026 and report topline data in the second quarter of 2027.¹