Cellect(US:QNRX)2025-03-13 20:05Financial Performance - Quoin Pharmaceuticals reported a net loss of approximately $2.3 million for Q4 2024, compared to a net loss of approximately $2.0 million for Q4 2023, and a total net loss of $9.0 million for the full year 2024, up from $8.7 million in 2023[12]. - Operating expenses for Q4 2024 were approximately $9.5 million, slightly higher than $9.4 million in Q4 2023[17]. - Total current assets increased to approximately $14.9 million as of December 31, 2024, compared to $11.3 million in 2023[16]. Cash and Funding - As of December 31, 2024, Quoin had approximately $14.1 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into Q2 2026[12]. - The company completed a $6.8 million public offering on December 20, 2024, enhancing its financial position for ongoing clinical development[9]. Clinical Development - Quoin's ongoing clinical studies for QRX003 have shown significant improvements in disease severity and skin healing for patients with Netherton Syndrome, with one patient experiencing transformational improvement after just two weeks[5]. - The FDA cleared a new whole-body clinical study for QRX003, which will evaluate its safety and efficacy on over 80% of the body surface area in Netherton Syndrome patients[10]. - Quoin filed U.S. and international patent applications for novel topical rapamycin formulations targeting rare dermatological diseases, expanding its product pipeline[4]. Awareness and Education - The company launched the 'NETHERTON NOW' awareness campaign to raise awareness about Netherton Syndrome, including a dedicated website for educational resources[6]. Shareholder Information - The weighted average number of ADSs outstanding increased to 4,688,723 for the year ended December 31, 2024, compared to 900,919 in 2023[17].