24/7 Market News Snapshot 09 September, 2024 – Quoin Pharmaceuticals, Ltd. American Depositary Shares (NASDAQ:QNRX)

September 9, 2024

DENVER, Colo., 09 September, 2024 (247marketnews.com) – (NASDAQ:QNRX) are discussed in this article.
Quoin Pharmaceuticals, Ltd. (QNRX) is experiencing significant momentum in the market, with the stock opening at $0.786 and reaching $1.020, reflecting a noteworthy increase of 32.5%. This surge comes on the back of robust trading volume of 1.13 million shares, indicating heightened investor interest in the company’s pioneering therapies. The previous trading session concluded at $0.770, underscoring the stock’s recent upward trajectory, which analysts believe may persist as Quoin advances its clinical pipeline, potentially delivering substantial value to shareholders.

In parallel to the positive market activity, Quoin Pharmaceuticals has announced substantial insider purchases by key executives, further solidifying confidence in the company’s strategic direction. CEO Michael Myers acquired 37,894 American Depositary Shares (ADSs) between September 3 and 4, 2024, at prices ranging from $0.619 to $0.7974 per share. Meanwhile, COO Denise Carter purchased 37,735 ADSs at prices between $0.6253 and $0.7965. These insider transactions are indicative of the leadership’s commitment to driving long-term growth and addressing unmet medical needs within rare and orphan diseases.

Quoin is dedicated to developing innovative therapeutic solutions, focusing on a robust pipeline that promises to transform treatment for conditions including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, and Epidermolysis Bullosa. The company’s mission is to create impactful treatment options for underserved populations, and these insider purchases underscore confidence in Quoin’s future prospects.

As the company continues to navigate a promising trajectory in the specialty pharmaceutical sector, stakeholders are encouraged to stay informed about its advancements and potential contributions to healthcare innovation.

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