The information for this report is sourced from a press release statement filed by Quoin Pharmaceuticals with the SEC. The stock currently trades at $0.41, near its 52-week low of $0.42, reflecting market uncertainty around these clinical developments. InvestingPro analysis indicates the stock is currently undervalued, with analysts maintaining a bullish consensus and setting price targets significantly above current levels.
For deeper insights into Quoin Pharmaceuticals' financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers this and 1,400+ other US equities. The stock currently trades at $0.41, near its 52-week low of $0.42, reflecting market uncertainty around these clinical developments.
InvestingPro analysis indicates the stock is currently undervalued, with analysts maintaining a bullish consensus and setting price targets significantly above current levels. For deeper insights into Quoin Pharmaceuticals' financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers this and 1,400+ other US equities.
The patient, part of an ongoing open-label study, had previously shown clear improvement across all clinical endpoints after 12 weeks of twice-daily dosing with QRX003. However, within four weeks of stopping the medication, the patient's condition reverted to its original state, as detailed in the provided data.
The Modified Ichthyosis Area of Severity Index (M-IASI) scores, which had decreased from 18 to 3, bounced back to 18 post-treatment. Similarly, the Worst Itch Numeric Rating Scale (WINRS) scores increased from 2 back to 8, and the Investigator's Global Assessment (IGA) shifted from "Almost Clear" to "Moderate."
In other recent news, Quoin Pharmaceuticals reported significant progress in its pediatric study for Netherton Syndrome, a severe skin disorder. The investigational drug, QRX003, showed promising results after six weeks of treatment, improving the severity of the skin condition from 'severe' to 'mild'. The application of QRX003 is now being expanded to the entire body surface area of the subjects. There have been no adverse events or safety concerns associated with QRX003 in this study.
In addition to the positive clinical trial data, Quoin Pharmaceuticals also announced terms for a public offering of securities, aiming to generate gross proceeds of approximately $6.8 million. Maxim Group LLC is acting as the sole placement agent for the offering. The proceeds will be used for general corporate purposes, including operational expenses, research and development, and potential acquisitions.
The U.S. Food and Drug Administration has approved an additional study for QRX003, marking the most extensive application of the lotion in a clinical setting to date. Quoin Pharmaceuticals has also made amendments to shareholder rights and adjusted executive compensation programs.
According to InvestingPro data, analysts maintain a bullish outlook on the company, with price targets ranging from $1.50 to $10.00 per share. These are the recent developments surrounding Quoin Pharmaceuticals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.