Quoin Pharmaceuticals reports promising Netherton Syndrome treatment

ASHBURN, Va. - Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX), a specialty pharmaceutical company with a market capitalization of $6.3 million, has announced encouraging clinical trial results for QRX003, its treatment for Netherton Syndrome (NS), a rare hereditary skin disorder. The company’s stock has experienced significant volatility, declining 88% over the past year, though InvestingPro analysis suggests the current price is near its Fair Value. In a recent pediatric study, the application of QRX003 showed a dramatic improvement in the patient’s skin condition within two weeks, without any reported adverse events.

The study’s key endpoints, including the Investigator’s Global Assessment (IGA) and Pruritus, exhibited significant improvements from the baseline. The patient’s IGA score improved from 5 to 1, indicating almost complete elimination of the disease’s visual effects on the skin. Similarly, the pruritus score decreased from 7 to a range of 1-2, signifying a reduction in the previously debilitating itch.

Following the treatment, the patient discontinued all prior medications, such as antihistamines, glucocorticoids, and antivirals, and has not required antibiotics since starting QRX003. Notably, the patient also experienced zero nightly sleep disturbances for the first time. According to InvestingPro data, while Quoin maintains strong liquidity with a current ratio of 3.02 and holds more cash than debt, the company faces profitability challenges with negative EBITDA of $9.24 million in the last twelve months. Subscribers to InvestingPro can access 12 additional key insights about QNRX’s financial health and market position.

Dr. Michael Myers, CEO of Quoin, expressed cautious optimism, stating that while the data is from a single patient over a short period, the results provide a glimpse into the potential efficacy of QRX003 as a chronic whole-body treatment for NS. He emphasized the transformational life change for the patient and the intention to expand the study to include additional pediatric subjects internationally.

Netherton Syndrome, caused by a mutation in the SPINK5 gene, leads to severe skin barrier defects and recurring infections. Patients often suffer from severe dehydration, chronic skin inflammation, and stunted growth. There is currently no cure for NS, nor are there any approved therapeutic treatments.

QRX003 is a topical lotion designed to normalize the skin-shedding process and strengthen the skin barrier by performing the function of a missing protein called LEKTI in NS patients.

Quoin Pharmaceuticals focuses on developing treatments for rare and orphan diseases, with a pipeline of products targeting various conditions, including NS, Peeling Skin Syndrome, and Epidermolysis Bullosa.

The company cautions that the forward-looking statements in their press release are not guarantees of future performance and that actual results may differ due to various factors. With the next earnings report due on March 7, analysts maintain a positive outlook despite current challenges, setting price targets ranging from $1.50 to $10.00 per share. For comprehensive analysis of QNRX and over 1,400 other US stocks, including detailed financial metrics and expert insights, visit InvestingPro. This update is based on a press release statement from Quoin Pharmaceuticals Ltd.

In other recent news, Quoin Pharmaceuticals reported its financial results for Q4 2023, highlighting a decrease in net loss to $870 million from $940 million in 2022. The company ended the year with $1.07 billion in cash and marketable securities, bolstered by a $650 million public offering. Quoin Pharmaceuticals is actively advancing its clinical trials for QRX003, targeting Netherton Syndrome, with promising initial data showing significant improvement in skin conditions. The company has made protocol amendments to its ongoing studies, including adjustments to dosing frequency and eligibility age, cleared by the FDA. Additionally, Quoin Pharmaceuticals launched the "NETHERTON NOW" campaign to raise awareness about Netherton Syndrome and support ongoing research efforts. The company is also exploring mergers and acquisitions in the rare and orphan disease sector. Analyst firms such as Alliance Global Partners (NYSE:GLP) are monitoring Quoin’s strategic developments, although no specific stock upgrades or downgrades have been reported recently.

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