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ASHBURN, Va. - Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX), a specialty pharmaceutical company, announced today that it has regained compliance with Nasdaq’s minimum bid price requirement. The company received a notice from the Listing Qualifications Department of The Nasdaq Stock Market confirming that Quoin’s ordinary shares closed at or above $1.00 per share for the last 13 consecutive business days. With this achievement, Nasdaq has closed the matter. According to InvestingPro data, the stock has shown significant volatility, with the price currently trading at $6.58, well below its 52-week high of $54.95.
Quoin Pharmaceuticals specializes in developing and commercializing treatments for rare and orphan diseases. Its pipeline includes four products targeting conditions such as Netherton Syndrome, Peeling Skin Syndrome, and Epidermolysis Bullosa, among others. The company aims to address the unmet medical needs of patients and their support networks. InvestingPro analysis shows the company maintains a healthy liquidity position with a current ratio of 3.57, though it reported an EBITDA of -$9.43M in the last twelve months. The company’s next earnings report is scheduled for May 8, 2025.
The press release also contained forward-looking statements regarding the potential of Quoin’s product pipeline to address a broad spectrum of rare and orphan indications. However, these statements are subject to risks and uncertainties, and actual results could differ materially from expectations. Notably, InvestingPro analysis indicates the company is currently undervalued, with analyst price targets ranging from $50.40 to $350.00 per share. Get access to 12 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
Investors are reminded that forward-looking statements should not be relied upon as predictions of future events, and the company does not undertake to update these statements unless required by law.
This announcement is based on a press release statement from Quoin Pharmaceuticals Ltd.
In other recent news, Quoin Pharmaceuticals has announced positive clinical data for its ongoing Pediatric Netherton Syndrome study, highlighting the effectiveness of its treatment, QRX003. The treatment has shown to maintain nearly complete skin healing over six weeks, with the young patient experiencing significant relief from severe itching and no adverse events reported. Additionally, Quoin Pharmaceuticals has filed a U.S. patent application for QRX003, which aims to secure extensive protection for the treatment of Netherton Syndrome and other rare skin diseases potentially until 2045. In a related development, the company reported encouraging results from a pediatric study where QRX003 demonstrated dramatic improvements in the patient’s skin condition within two weeks. Furthermore, Quoin has launched the "NETHERTON NOW" campaign to raise awareness about Netherton Syndrome, emphasizing the critical need for better understanding and medical options. The campaign includes a dedicated website designed to provide resources and updates on research developments. To comply with Nasdaq’s minimum bid price requirement, Quoin has also announced a change in the ratio of its American Depositary Shares. These recent developments reflect Quoin Pharmaceuticals’ commitment to addressing the challenges of rare diseases.
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