Quoin Pharmaceuticals Prices $50 Million Private Placement to Advance QRX003 Netherton Syndrome Phase 3 Program
Quoin Pharmaceuticals (NASDAQ: QNRX) announced Friday August 28, 2026 a securities purchase agreement with new and existing healthcare-focused institutional investors (Sirenia Capital Management LP, Sphera Healthcare, AIGH Capital Management, Nantahala Capital, StemPoint Capital LP, and Stonepine Capital Management among others) for up to approximately $50.0 million in gross proceeds. Structure: approximately $30.8 million in initial upfront funding plus up to approximately $19.2 million from cash exercise of accompanying ordinary warrants. The private placement is expected to close on or about August 31, 2026. Proceeds will fund general corporate purposes including completion of clinical development of QRX003 (topical serine protease inhibitor) for Netherton Syndrome (a rare severe congenital ichthyosis caused by SPINK5 mutations that leaves affected patients with a defective skin barrier and life-threatening infections in infancy). Aggregate net proceeds (assuming full warrant exercise) are expected to fund Quoin into H2 2029.