Quoin Pharma raises $6.5M via public offering; FDA clears teen enrollment in Netherton Syndrome trials

Quoin Pharmaceuticals, Ltd.

Raised $6.5M gross from public offering of ADSs, pre-funded and Series D/E warrants at $1.60 combined per unit.
Repriced 638,834 existing warrants from $13.20/$12.00 to $1.60 per ADS; extended expiration to March 7, 2029.
FDA cleared recruitment of teen subjects (14+) into QRX003 trials for Netherton Syndrome, first non-adult inclusion under open IND.
Teens on off-label systemic therapy eligible for open-label study; others eligible for placebo-controlled study.
Net proceeds for general corporate purposes; offering closed March 7, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Quoin Pharmaceuticals, Ltd. entered into Placement Agency Agreement with A.G.P./Alliance Global Partners valued at cash fee of 7.0% of the aggregate gross proceeds (effective 2024-03-04).

Action: entry
Agreement: underwriting
Counterparty: A.G.P./Alliance Global Partners
Value: cash fee of 7.0% of the aggregate gross proceeds
Effective: 2024-03-04

Exact text from the filing

Pursuant to that certain placement agency agreement, dated March 4, 2024, by and between the Company and the Placement Agent (the "Placement Agency Agreement"), the Placement Agent was paid a cash fee of 7.0% of the aggregate gross proceeds to the Company from the sale of the ADSs, Pre Funded-Funded Warrants and Warrants in the Offering and the Company reimbursed the Placement Agent for (i) non-accountable expenses in an amount of 1.0% of the aggregate gross proceeds raised in the Offering and (ii) accountable expenses of the Placement Agent of $125,000 related to the legal fees.

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Quoin Pharmaceuticals, Ltd. filing history →

Source: SEC EDGAR

accession 0001104659-24-032379

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