Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is making strides in the development of novel treatments for rare and orphan diseases. The company announced the initiation of an investigator-led clinical study evaluating QRX003 for Peeling Skin Syndrome (PSS) and the expansion of its Netherton Syndrome clinical program. These advancements underscore Quoin's commitment to addressing unmet medical needs in underserved patient populations.
QRX003 for Peeling Skin Syndrome
In August, Quoin announced the planned initiation of a clinical study in New Zealand to assess QRX003 in pediatric patients with PSS. This rare genetic condition lacks approved treatments or cures, highlighting the significant unmet need. The first clinical site and patient have been identified, and Quoin is actively evaluating additional clinical sites in other countries. This study marks the first formal clinical evaluation for PSS, representing a crucial step in developing a potential therapy.
Expanding Netherton Syndrome Clinical Trials
Quoin is also broadening its clinical trials for QRX003 as a potential treatment for Netherton Syndrome. In October 2024, the company announced the opening of two additional clinical sites in the United Kingdom, recognized centers of excellence for Netherton Syndrome. Further expansion into Western and Eastern Europe is planned. The UK sites will operate under Quoin’s open Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA).
Financial Position and Future Outlook
As of September 30, 2024, Quoin reported approximately $10.3 million in cash, cash equivalents, and marketable securities. This financial position is expected to fund the company’s operations into late 2025. For the quarter ended September 30, 2024, Quoin reported a net loss of approximately $2.3 million, compared to a net loss of approximately $1.9 million for the same period in 2023. The company continues to evaluate M&A opportunities within the rare and orphan disease space as part of its long-term growth strategy.
Quoin CEO Dr. Michael Myers stated, “The third quarter has been marked by notable achievements, including expanding the clinical reach of our lead product QRX003 into Peeling Skin Syndrome... As we continue our commitment to the rare disease community, our focus remains on delivering life-changing treatments for underserved patient populations.”
