Quoin Pharmaceuticals’ Commitment to Delivering Treatment for Netherton Syndrome Patients and Creating Value for Shareholders

NEW YORK, NY - (NewMediaWire) - August 09, 2023 - PCG Digital --Quoin Pharmaceuticals (Nasdaq:QNRX), a clinical stage pharmaceutical company specializing in rare and orphan diseases, has achieved significant milestones in its mission to deliver the first approved treatment for Netherton Syndrome, a rare hereditary genetic disease. The Company recently announced positive clinical data from the first subject to complete testing in an ongoing open-label Netherton Syndrome study. While the data is just from a single subject and may not be representative of future results from other subjects, the results generated are highly promising, and underscore the potential for Quoin's lead candidate, QRX003, to be the first safe and effective treatment approved for this debilitating disease.

Clinical Advancements in Netherton Syndrome Treatment

Quoin Pharmaceuticals has made impressive progress in its two ongoing Netherton Syndrome clinical trials. The company's open-label study reached the 50% recruitment mark in just a few months and the company's second clinical study is expected to enroll a majority of subjects by the end of August. The high level of interest among patients and healthcare providers to participate in these trials emphasizes the urgent need for an effective treatment for this rare and challenging disease.

A significant milestone was the availability of positive clinical data from the first patient who completed the open-label study. The patient's skin was assessed to be fully clear at the QRX003 treatment sites, and the subject also showed key improvements across all other clinical endpoints, including a substantial reduction in pruritus (itching), a primary symptom of Netherton Syndrome.

Financial Strength and Commitment to Shareholders

Quoin Pharmaceuticals maintains a strong financial position, with cash and marketable securities totaling approximately $15.4 million as of June 30, 2023. The company's second-quarter net loss was reduced compared to the previous year, mainly due to lower legal and professional fees. This solid financial standing enables Quoin to focus on advancing its product portfolio and pursuing mergers and acquisitions (M&A) to further enhance value for its shareholders.

Global Expansion and Regulatory Approvals

As part of its commitment to becoming a global leader in the rare and orphan disease space, Quoin Pharmaceuticals has established commercial partnerships in 60 countries outside the U.S. and Europe. The company's early strategic partnering approach will facilitate a potential global launch upon approval. Furthermore, these partnerships may also facilitate entry into early access programs, compassionate use initiatives and possibly conditional marketing approval in advance of formal regulatory approval.

As the company explores new indications beyond Netherton Syndrome, its potential to create value for shareholders and create a profound impact in the global medical and patient community becomes increasingly evident.

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