Quoin Pharmaceuticals, Ltd.
QNRX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for QNRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · QNRX
Quoin Pharmaceuticals, Ltd. is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for rare and orphan diseases, with its lead candidate QRX003 in late-stage trials for Netherton Syndrome.
Key risk: Cash runway and funding need
BioSniper Score
Based on 5 of 6 signals
Market Cap
$12.3M
Cash Runway
10.2 moLead Asset
qrx003 (Phase 2/Phase 3)
Next Catalyst
Phase2_Topline · Dec 31, 2026Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 4 clinical trials · 3 catalysts for Quoin Pharmaceuticals, Ltd..
Similar companies
Quoin Pharmaceuticals, Ltd. is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for rare and orphan diseases, with its lead candidate QRX003 in late-stage trials for Netherton Syndrome.
- Lead product candidate QRX003 is in late-stage clinical testing for Netherton Syndrome (NS), a rare genetic skin disorder with no approved treatments [sec_mda · as of 2026-05-07].
- Cash and equivalents were $3.8M as of 2026-06-30, with a net loss of -$5.4M for the period [sec].
- The company has not generated any revenue from product sales and expects to require additional funding to complete development and commercialization [sec_mda · as of 2026-08-14].
- Quoin has commercial agreements in place for QRX003 in Canada, Australia/New Zealand, Singapore, Israel, Central and Eastern Europe, Turkey, and several Latin American countries [sec_mda · as of 2026-05-07].
What works
- QRX003 targets Netherton Syndrome, a rare disease with no FDA-approved treatments, potentially addressing a high unmet medical need [sec · filed 2025-11-12].
- The company has established commercial distribution agreements for QRX003 in multiple territories outside the U.S., Europe, and Japan [sec_mda · as of 2026-05-07].
- Quoin is advancing QRX003 through late-stage clinical trials with Phase 2 and Phase 3 topline data expected by end of 2026 [catalyst_timeline].
What to weigh
- The company has no revenue from product sales and has incurred a net loss of -$5.4M as of 2026-06-30, with cash of only $3.8M, indicating a need for near-term funding [sec] [sec_mda · as of 2026-08-14].
- Quoin will need to obtain further funding through equity offerings, debt, or partnerships, and failure to do so could force delay, reduction, or termination of development programs [sec_mda · as of 2026-08-14].
- The company's success depends entirely on the clinical and regulatory outcomes of QRX003, with no other late-stage pipeline candidates mentioned.
From the filings
Quoted directly from source documents.
QRX003 is in late-stage clinical testing for Netherton Syndrome.
“complete the late-stage clinical testing of QRX003 in NS and, if successful, file for marketing approval in the United States, Europe, Japan and the other territories for which we have commercial agreements in place”
SEC MD&A · May 7, 2026
The company has no approved treatments for its target indications.
“clinical indications that have been identified by the Company as targets include Microcystic Lymphatic Malformations and Venous Malformations among others. For each of these initial targets, there are currently no FDA approved treatments or cures.”
SEC filings · November 12, 2025
Quoin has not generated revenue and needs additional funding.
“We do not expect to generate revenue from product sales unless and until we successfully complete development and obtain marketing approval for one or more of our product candidates, which we expect will take a number of years and is subject to significant uncertainty.”
SEC MD&A · August 14, 2026
Catalyst timeline
- 2026-12-31 · Phase2_Topline · qrx003 — Phase 2 Readout: qrx003 — Topline results from the Phase 2 study of QRX003 in Netherton Syndrome are expected.
- 2026-12-31 · Phase3_Topline · qrx003 — Phase 3 Topline: A Multicenter, Randomized, Vehicle-Controlled, Double-Blind, Parallel Comparison Study of QRX003 Lot — Topline results from the vehicle-controlled Phase 3 study of QRX003 are expected.
- 2027-03-31 · Phase3_Topline · qrx003 — Phase 3 Topline: A Multicenter, Open-label Study of QRX003 Lotion in Participants With Netherton Syndrome — Topline results from the open-label Phase 3 study of QRX003 are expected.
Risks & what to watch (4)›
Key risks
- Cash runway and funding need — With $3.8M cash and no revenue, the company must raise additional capital soon to continue operations [sec] [sec_mda · as of 2026-08-14].
- Single-product pipeline risk — Quoin's prospects depend entirely on QRX003; failure in clinical trials or regulatory hurdles would be material [sec_mda · as of 2026-05-07].
- No approved treatments for targets — While no approved treatments exist, this also means no prior regulatory pathway, increasing development risk [sec · filed 2025-11-12].
- Forward-looking statement uncertainty — The company's plans are subject to risks and uncertainties that could cause actual results to differ materially [sec_mda · as of 2026-08-14].
What to watch
- Phase 2 topline data for QRX003 expected by 2026-12-31 [catalyst_timeline].
- Phase 3 topline data for QRX003 (vehicle-controlled study) expected by 2026-12-31 [catalyst_timeline].
- Additional Phase 3 topline data for QRX003 (open-label study) expected by 2027-03-31 [catalyst_timeline].
- Any financing or partnership announcements to extend cash runway beyond $3.8M [sec].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
10.2 months
D/E 2.04
Lead: Phase 2/Phase 3
4 candidates
3 upcoming, next in ~123d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
14
Total value held
$2.7M
| Holder | Shares | Value |
|---|---|---|
| summittx capital, l.p. | 100,300 | $662K |
| millennium management llc | 76,247 | $503K |
| boothbay fund management, llc | 59,838 | $395K |
| stonepine capital management, llc | 53,460 | $353K |
| aigh capital management llc | 51,000 | $337K |
| citadel advisors llc | 32,519 | $215K |
| birchview capital, lp | 20,000 | $132K |
| morgan stanley | 4,000 | $26K |
| ubs group ag | 2,512 | $17K |
| gamma investing llc | 1,720 | $11K |
Showing top 10 of 14 institutional holders of Quoin Pharmaceuticals, Ltd.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 4.8%
- Days to cover
- 2.2
- Shares short
- 85,556
- Daily short volume (May 4, 2026)
- 41.9%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
QNRX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Quoin Pharmaceuticals, Ltd.?
Quoin Pharmaceuticals, Ltd. is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for rare and orphan diseases, with its lead candidate QRX003 in late-stage trials for Netherton Syndrome.
What is Quoin Pharmaceuticals, Ltd.'s lead drug candidate?
Quoin Pharmaceuticals, Ltd.'s most advanced tracked candidate is qrx003 (Phase 2/Phase 3) for Netherton Syndrome.
What is Quoin Pharmaceuticals, Ltd.'s next catalyst?
Quoin Pharmaceuticals, Ltd.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: qrx003" — expected December 31, 2026.
Who is the CEO of Quoin Pharmaceuticals, Ltd.?
Dr. Michael Myers Ph.D. is the chief executive officer of Quoin Pharmaceuticals, Ltd. (QNRX).
Where is Quoin Pharmaceuticals, Ltd. headquartered?
Quoin Pharmaceuticals, Ltd. (QNRX) is headquartered in Ashburn, VA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.