Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX), a clinical-stage pharmaceutical company with a market capitalization of $3.54 million, today announced positive interim clinical data from its ongoing Netherton Syndrome study. The study focuses on QRX003, a treatment for the rare genetic skin disorder. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 3.02, indicating solid financial backing for its clinical programs.
The company reported improvements across all clinical endpoints for the first subject after 12 weeks of twice-daily dosing. Significant progress was noted with a decrease in the Modified Ichthyosis Area of Severity Index (M-IASI) score from 18 at baseline to 3, and a reduction in the Worst Itch Numeric Rating Scale (WINRS) from 7 to 2. The Investigator's Global Assessment (IGA) also showed a change in the patient's condition from moderate to almost clear. Analysts maintain optimism about the company's potential, with price targets ranging from $1.50 to $10.00 per share.
In other recent news, Quoin Pharmaceuticals reported encouraging results from its ongoing Netherton Syndrome study. The company's QRX003 lotion showed significant improvement across all clinical endpoints. The study, led by Dr. Amy Paller at Northwestern (NASDAQ:NWE) University, is expected to provide significant data for a New Drug Application (NDA) for QRX003. Quoin has also announced terms for a public offering of securities, with Maxim Group LLC acting as the sole placement agent. The offering aims to generate gross proceeds of approximately $6.8 million.
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