Quoin Pharmaceuticals finalizes separation agreement with former CFO

Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX), a micro-cap pharmaceutical company with a market capitalization of $4.4 million, announced the finalization of a separation agreement with its former Chief Financial Officer, Gordon Dunn, following his departure from the company effective August 15, 2025. According to InvestingPro data, the company currently maintains a weak financial health score of 1.69, reflecting ongoing operational challenges. The information was disclosed in a statement based on a recent SEC filing.

According to the filing, Mr. Dunn and the company agreed to a mutual separation, with his last day as CFO noted as August 15, 2025. On August 21, 2025, Quoin Pharmaceuticals, through its subsidiary Quoin Pharmaceuticals, Inc., entered into a settlement agreement with Mr. Dunn. Under the terms of the agreement, Mr. Dunn will receive a payment of $433,620 in equal bi-weekly installments, representing compensation in lieu of 12 months’ notice as outlined in his prior service agreement.

Additionally, Mr. Dunn is entitled to a bonus of $108,405 for the 2024 financial year, which will be paid in a lump sum on the one-year anniversary of the settlement agreement’s effective date. The agreement also amends the terms of any outstanding vested but unexercised non-qualified stock options held by Mr. Dunn, extending the post-termination exercise period from 90 days to one year and nine months.

The settlement agreement includes a release of claims provision. Further details are available in the full text of the agreement, which was filed as an exhibit to the SEC filing.

Quoin Pharmaceuticals Ltd. is incorporated in Israel and its American Depositary Shares are listed on the Nasdaq Stock Market under the symbol QNRX. This article is based on a press release statement contained in the company’s SEC filing.

In other recent news, Quoin Pharmaceuticals has made significant strides in its development efforts for QRX003, a treatment for Netherton Syndrome. The company is advancing this lead product in two pivotal registrational clinical studies across the U.S., Europe, and the Middle East, with plans to complete recruitment by early to mid-first quarter of 2026. Quoin Pharmaceuticals aims to file for regulatory approval in the second half of 2026. In a notable regulatory development, the U.S. Food and Drug Administration has granted Rare Pediatric Disease Designation to QRX003, recognizing its potential for treating serious diseases affecting children. This follows the European Medicines Agency’s Orphan Drug Designation for the same treatment. Additionally, Quoin Pharmaceuticals announced that Chief Financial Officer Gordon Dunn will be leaving the company after a mutual agreement, although he will remain in his role until a successor is appointed. These developments reflect the company’s ongoing efforts in advancing its rare disease pipeline.

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