🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Quoin Pharmaceuticals sets date for 2024 shareholder meeting

EditorNatashya Angelica
Published 09/30/2024, 10:33 AM
QNRX
-

Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX), a company specializing in pharmaceutical preparations, announced on Monday that its Board of Directors has set December 5, 2024, as the date for its 2024 Annual General Meeting of Shareholders (2024 AGM). This date is a significant shift from the previous year's meeting, prompting an update to the deadlines for shareholder proposals.

The announcement, made via an 8-K filing with the Securities and Exchange Commission, indicated that the 2024 AGM would occur more than 30 days after the anniversary of the 2023 Annual General Meeting. As a result, the company has revised the submission deadlines for shareholder proposals related to the upcoming meeting.

Shareholder proposals submitted under Rule 14a-8 of the Securities Exchange Act of 1934, intended for inclusion in Quoin's proxy statement, must now be received by the company by October 10, 2024. This new deadline is aimed at providing the company with sufficient time to incorporate the proposals into its proxy materials before the printing and distribution process begins.

Furthermore, in accordance with the universal proxy rules, shareholders planning to solicit proxies in support of director nominees other than the company's nominees must submit the required information by the same October 10 deadline. This information must comply with Rule 14a-19 under the Exchange Act.

The filing also served to notify shareholders of the updated deadlines and the procedures for the submission of proposals. The announcement is part of the company's compliance with SEC regulations and corporate governance practices.

Quoin Pharmaceuticals, previously known as Cellect Biotechnology Ltd. and Cellect Biomed Ltd., has undergone name changes in the past, with the most recent change recorded on July 21, 2016. The company is incorporated in the State of Israel and maintains its primary business address in Ashburn, VA.

This news is based on a press release statement and aims to provide shareholders with essential information regarding the upcoming annual meeting and associated deadlines.

In other recent news, Quoin Pharmaceuticals Ltd. executives have made substantial purchases of the company's stock, signaling a strong vote of confidence in its future prospects. CEO Michael Myers and COO Denise Carter acquired significant numbers of American Depositary Shares (ADSs) recently.

Myers bought 37,894 ADSs, with prices ranging from $0.619 to $0.7974, while Carter purchased 37,735 ADSs at prices between $0.6253 and $0.7965. These transactions underscore the leadership's belief in Quoin's strategic direction and commitment to enhancing shareholder value.

The company's pipeline includes three products targeting a variety of conditions. However, Quoin Pharmaceuticals has cautioned that its optimistic projections are forward-looking and subject to risks and uncertainties. This news sheds light on the recent developments within Quoin Pharmaceuticals Ltd.

InvestingPro Insights

As Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) prepares for its 2024 Annual General Meeting, investors may benefit from additional financial insights. According to InvestingPro data, the company's market capitalization stands at a modest $2.05 million, reflecting its current position in the pharmaceutical sector.

InvestingPro Tips highlight that QNRX holds more cash than debt on its balance sheet, which could be a positive factor for shareholders considering the company's financial stability ahead of the annual meeting. However, it's worth noting that the company is not profitable over the last twelve months, with an adjusted operating income of -$8.94 million for the same period.

The stock's performance has been challenging, with a significant price decline of 87.61% over the past year. This volatility aligns with another InvestingPro Tip indicating that QNRX's stock price movements are quite volatile, which shareholders may want to consider when evaluating their positions or potential proxy votes.

For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips that could provide valuable context for the upcoming shareholder meeting and the company's overall financial health.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.