Q
Quoin Pharmaceuticals, Ltd.
QNRXCIK 0001671502NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsL3IL
Period
FY 2025
Revenue
—
Net Income
$-15.80M
Total Assets
$20.39M
Equity
$13.12M
Shares Out
52.44M
Op. Cash Flow
$-13.54M
Business
Quoin Pharmaceuticals, Ltd. is a late-stage clinical specialty pharmaceutical company focused on developing and commercializing therapeutic products for rare and orphan diseases. It develops topical drug candidates, led by QRX003 for Netherton Syndrome, and other programs including QRX004, QRX007, QRX008 and novel topical rapamycin formulations. The company operates through clinical development, research collaboration and in‑license/licensing activities, and engages third‑party manufacturers for production. Quoin conducts clinical trials and plans to self‑commercialize in the U.S. and Europe while leveraging international marketing partnerships and investigator‑led sites in regions including the Middle East, the U.K., Ireland, New Zealand and other European countries.
Summary from filing dated 2025-03-13
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| General and administrative | 6 | 6 | 6 | 7 | 4 | |
| Research and development | 10 | 4 | 3 | 3 | 2 | |
| Total operating expenses | 16 | 10 | 9 | 9 | 6 | |
| Unrealized gain | −3,980 | −7,502 | 2,683 | −1,307 | — | |
| Realized and accrued interest income | −482,081 | −558,491 | — | — | — | |
| Total other income | −486,061 | −565,993 | −691,931 | 123,792 | 15 | |
| Net loss | −16 | −9 | −9 | −9 | −21 | |
| Foreign currency translation | −613 | — | — | — | — | |
| Total other comprehensive loss | −613 | — | — | — | — | |
| Comprehensive loss | −16 | −9 | — | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 4 | 4 | 2 | 3 | 7 | |
| Investments | 15 | 10 | — | — | — | |
| Prepaid expenses and other current assets | 1 | 869,126 | 591,034 | 516,584 | — | |
| Total current assets | 20 | 15 | 11 | 13 | 8 | |
| Prepaid expenses - long term | — | 300,000 | 300,000 | 383,390 | 300,000 | |
| Intangible assets, net | 383,334 | 483,334 | 583,334 | 704,561 | 808,604 | |
| Total assets | 20 | 16 | 12 | 14 | 9 | |
| Accounts payable | 1 | 905,704 | 526,523 | 605,600 | 923,239 | |
| Accrued expenses | 3 | 2 | 1 | 1 | 2 | |
| Accrued interest and financing expense | 1 | 1 | — | — | — | |
| Due to officers - short term | 600,000 | 600,000 | 600,000 | 600,000 | — | |
| Total current liabilities | 6 | 4 | 4 | 4 | 5 | |
| Due to officers - long term | 2 | 2 | 3 | 4 | — | |
| Total liabilities | 7 | 7 | 7 | 7 | 9 | |
| Commitments and contingencies | — | — | — | — | — | |
| Ordinary shares, no par value per share, 5,000,000,000 and 100,000,000 ordinary shares authorized at December 31, 2025 and December 31, 2024, respectively - 52,441,360 (1,498,325 ADS's) ordinary shares issued and outstanding at December 31, 2025 and 8,948,164 (255,661 ADS's) ordinary shares issued and outstanding at December 31, 2024 | 0 | 0 | 0 | 0 | — | |
| Accumulated other comprehensive loss | −613 | — | — | — | — | |
| Additional paid in capital | 84 | 64 | 52 | 48 | 32 | |
| Accumulated deficit | −71 | −55 | −46 | −38 | −28 | |
| Total shareholders' equity | 13 | 9 | 6 | 7 | 657,032 | |
| Total liabilities and shareholders' equity | 20 | 16 | 12 | 14 | 9 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −16 | −9 | −9 | −9 | −21 | |
| Stock based compensation | 1 | 1 | 1 | 764,007 | — | |
| Amortization of intangibles | 100,000 | 100,000 | 104,000 | 104,000 | 104,043 | |
| Realized and unrealized gain and accrued interest on investments | −215,855 | −251,590 | — | — | — | |
| Increase (decrease) in accounts payable and accrued expenses | 1 | 275,955 | 53,924 | — | — | |
| Decrease in prepaid expenses and other assets | −92,848 | −278,092 | 41,523 | 123,455 | −715,474 | |
| Net cash used in operating activities | −14 | −8 | −8 | −8 | −6 | |
| Purchase of investments | −12 | −17 | −18 | −10 | — | |
| Proceeds from redemption of investments | 8 | 15 | 20 | — | — | |
| Net cash used by investing activities | −4 | −2 | 2 | −10 | −625,000 | |
| Payment of amounts due to officers | −600,000 | −600,000 | −600,000 | −599,999 | −304,466 | |
| Proceeds from sale of equity securities, net | 19 | 12 | — | — | — | |
| Net cash provided by financing activities | 18 | 11 | 5 | 14 | 14 | |
| Effect of foreign exchange rate on changes on cash | −613 | — | — | — | — | |
| Net change in cash and cash equivalents: | 194,753 | 1 | — | — | — | |
| Offering expenses associated with warrant modification | — | 2 | 238,231 | 491,601 | — | |
| Accrued offering expenses included in additional paid in capital | 40,870 | 323,497 | — | — | — |
Filings
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