Quoin Pharmaceuticals Provides Corporate Update and Reports Fourth Quarter and Full-Year 2024 Financial Results

Core Viewpoint - Quoin Pharmaceuticals Ltd. has made significant advancements in 2024, particularly in the clinical development of QRX003 for Netherton Syndrome, showcasing promising clinical data and expanding its pipeline with new patent filings for topical rapamycin formulations [2][4][5]. Recent Accomplishments - The company filed U.S. and international patent applications for novel topical rapamycin formulations targeting microcystic lymphatic malformations, venous malformations, and angiofibromas, utilizing its proprietary Invisicare® delivery technology [4]. - Positive clinical data from a pediatric Netherton Syndrome study indicated that the first patient experienced transformational improvement after two weeks of whole-body application of QRX003, leading to the discontinuation of previously required medications [5]. - The launch of the 'NETHERTON NOW' awareness campaign aimed to raise awareness about Netherton Syndrome and provide educational resources for the community [6]. Clinical Development Highlights - Quoin received FDA clearance for a new whole-body clinical study for QRX003, which will evaluate the safety and efficacy of the treatment on over 80% of the body surface area in Netherton Syndrome patients [10]. - Interim data from ongoing studies showed significant clinical responses, with no adverse events reported, reinforcing the effectiveness of QRX003 [11][8]. Financial Highlights - As of December 31, 2024, Quoin had approximately $14.1 million in cash, cash equivalents, and marketable securities, expected to fund operations into the second quarter of 2026 [15]. - The net loss for the quarter ended December 31, 2024, was approximately$2.3 million, compared to $2.0 million for the same quarter in 2023, while the annual net loss was$9.0 million, up from $8.7 million in 2023 [15][19].