China smartphone shipments slumped in June on inventory overhang: Jefferies
Quoin Pharmaceuticals Ltd. announced on Monday that it has regained compliance with the Nasdaq’s minimum bid price requirement. The Nasdaq Capital Market requires listed companies to maintain a minimum bid price of $1.00 per share. Quoin Pharmaceuticals received a Compliance Notice from Nasdaq informing them that their American Depositary Shares (ADSs) had closed at $1.00 per share or higher from April 9 to April 28, 2025. The company, which trades under the ticker (NASDAQ:QNRX), had previously fallen below this threshold. Currently trading at $6.77, the stock has experienced significant volatility, with a 52-week range of $5.01 to $54.95. According to InvestingPro data, the stock has declined over 74% in the past six months.
The Compliance Notice stated that the company’s ADSs met the minimum bid price rule, Nasdaq Listing Rule 5550(a)(2), and that the matter is now closed. This development follows the company’s struggle to maintain the required bid price, which is a common challenge for many small-cap companies listed on stock exchanges. With a market capitalization of just $3.87 million and a beta of 1.61, QNRX shows higher volatility than the broader market. InvestingPro analysis reveals 12 additional key insights about the company’s market position and future prospects.
Quoin Pharmaceuticals, headquartered in Ashburn, VA, specializes in pharmaceutical preparations and has been listed under various names in the past, including Cellect Biotechnology Ltd. and Cellect Biomed Ltd. The company’s compliance with Nasdaq’s listing rules is crucial for its continued listing on the exchange and for investor confidence. InvestingPro’s Financial Health Score rates the company as "FAIR," with a strong current ratio of 3.57 indicating solid short-term liquidity. The company maintains more cash than debt on its balance sheet, though it remains unprofitable with negative EBITDA of $9.43 million.
The news of regaining compliance may have positive implications for Quoin Pharmaceuticals’ stock performance, as it removes the immediate risk of delisting due to non-compliance with the exchange’s rules. The company’s CEO, Dr. Michael Myers, signed off on the report filed with the Securities and Exchange Commission, confirming the receipt of the Compliance Notice and the return to compliance with Nasdaq’s listing requirements. Analyst price targets range from $50.40 to $350.00, suggesting potential upside, though the company currently appears undervalued according to InvestingPro’s Fair Value analysis.
This update is based on a press release statement and reflects the latest regulatory developments concerning Quoin Pharmaceuticals’ status on the Nasdaq Stock Market.
In other recent news, Quoin Pharmaceuticals has made significant strides in its clinical trials for QRX003, a treatment for Netherton Syndrome. The company reported positive clinical data, highlighting that the treatment maintained nearly complete skin healing in a pediatric patient after six weeks, eliminating the need for additional medications. Quoin Pharmaceuticals also announced a U.S. patent application for QRX003, potentially securing protection until 2045 for treating various rare skin diseases. The company is actively conducting multiple clinical trials for Netherton Syndrome and plans to expand its studies internationally.
In an effort to comply with Nasdaq’s minimum bid price requirements, Quoin Pharmaceuticals has adjusted its American Depositary Shares (ADS) ratio from one ADS representing one Ordinary Share to one ADS representing twenty Ordinary Shares. This change, effective in April 2025, aims to increase the market price per ADS. Furthermore, Quoin Pharmaceuticals recently regained compliance with Nasdaq’s minimum bid price requirement after its shares closed at or above $1.00 for 13 consecutive business days.
The company’s efforts have been recognized by the medical community and investors, with ongoing monitoring of their progress in addressing rare and orphan diseases. While these developments are promising, Quoin Pharmaceuticals emphasizes that forward-looking statements are subject to risks and uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.