ASHBURN, Va. - Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX), a clinical-stage specialty pharmaceutical company with a market capitalization of $2.89 million, announced positive interim clinical data from its pediatric study on Netherton Syndrome, a rare hereditary skin disorder. The study showed significant improvement in skin appearance and disease classification in a subject after six weeks of treatment with the investigational drug QRX003. According to InvestingPro analysis, while the company's stock has seen significant volatility recently, it appears undervalued based on their proprietary Fair Value model.
The Investigator's Global Assessment (IGA) of the skin condition improved from "Severe" at baseline to "Mild" after six weeks of dosing twice a day with QRX003. Encouraged by these results, researchers are expanding the treatment from 20% of the body surface area to the whole body. To date, no adverse events or safety concerns have been reported for this subject, aligning with the safety observations from other ongoing clinical studies in Netherton Syndrome subjects.
Quoin's CEO, Dr. Michael Myers, expressed optimism about the study's progress and the decision to extend the treatment to the entire body. The company plans to include additional pediatric subjects from other countries and anticipates that these subjects might also commence with whole-body treatment based on positive interim results. The company is also conducting an adult study with the FDA's clearance to proceed. InvestingPro data reveals the company maintains a healthy current ratio of 3.02, indicating strong ability to meet short-term obligations while funding research activities. Subscribers can access 10+ additional ProTips and comprehensive financial metrics in the Pro Research Report.
Netherton Syndrome is characterized by severe skin barrier defects, recurring infections, and a predisposition to allergies, asthma, and eczema. There is currently no cure or approved treatments for the condition. QRX003, a topical lotion with a broad-spectrum serine protease inhibitor, aims to normalize skin shedding and strengthen the skin barrier by substituting for the missing LEKTI protein in patients.
Quoin Pharmaceuticals focuses on rare and orphan diseases, with a pipeline of products targeting various conditions, including Netherton Syndrome. While optimistic about the potential of QRX003, the company cautions that its statements regarding the treatment's efficacy and safety are forward-looking and subject to risks and uncertainties. The company aims to gather compelling clinical evidence to support an application for QRX003 as an approved treatment for Netherton Syndrome patients.
The information reported is based on a press release statement from Quoin Pharmaceuticals Ltd. While analysts do not expect profitability this year, InvestingPro subscribers can access detailed financial forecasts, analyst recommendations, and comprehensive valuation metrics to make informed investment decisions. The Pro Research Report provides in-depth analysis of QNRX's financial health, market position, and growth potential.
In other recent news, Quoin Pharmaceuticals reported positive interim clinical data from its ongoing Netherton Syndrome study. The company's QRX003 lotion showed significant improvements across all clinical endpoints. Additionally, Quoin Pharmaceuticals announced terms for a public offering of securities, aiming to generate gross proceeds of approximately $6.8 million, with Maxim Group LLC acting as the sole placement agent. The U.S. Food and Drug Administration has also approved an additional clinical study for QRX003, marking the most extensive application of the lotion in a clinical setting to date. The company has also made amendments to shareholder rights and adjusted executive compensation programs. Analysts maintain optimism about the company's potential, with price targets ranging from $1.50 to $10.00 per share. These developments highlight recent advancements in Quoin Pharmaceuticals' operations and strategic initiatives.
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