24/7 Market News Snapshot 19 December, 2024 – Quoin Pharmaceuticals, Ltd. American Depositary Shares (NASDAQ:QNRX)

December 19, 2024

DENVER, Colo., 19 December, 2024 (247marketnews.com) – (NASDAQ:QNRX) are discussed in this article.
Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) is experiencing significant market activity, with its stock currently trading at $0.829, reflecting a notable increase of 47.38% from the previous day’s close of $0.562. This surge is accompanied by a trading volume of 4.86 million shares, indicating robust investor interest and market optimism regarding the company’s prospects. Analysts suggest a strong buying momentum, hinting at the potential for continued growth, particularly as Quoin strengthens its position within the biotech sector.

In a promising development, Quoin has received FDA clearance to commence an innovative clinical trial for QRX003, a topical lotion specifically designed for the treatment of Netherton Syndrome (NS). This significant study will be conducted by Dr. Amy Paller at Northwestern University and represents a major step forward in addressing the needs of patients with this rare condition. The trial will involve applying QRX003 to over 80% of the body surface area of up to eight subjects, twice daily for 12 weeks, a methodology that simulates realistic usage and enhances the interpretability of the study’s outcomes.

Quoin Pharmaceuticals’ CEO, Dr. Michael Myers, conveyed enthusiasm about the FDA’s approval, emphasizing the importance of this trial in compiling a comprehensive data set aimed at supporting regulatory approval for QRX003. This study marks the third under the company’s open Investigational New Drug application for NS and is a critical part of Quoin’s commitment to addressing the medical challenges faced by patients with rare disorders. By targeting the kallikreins associated with the characteristic excessive skin shedding of Netherton Syndrome, this initiative holds promise for delivering the first approved treatment for the condition. Quoin continues to forge ahead as a leader in developing transformative therapies for rare diseases.

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