other material
confidence high
sentiment positive
materiality 0.75
Quoin raises $16.6M upfront in PIPE; up to $104.6M total with milestone warrants
Quoin Pharmaceuticals, Ltd.
- Upfront gross proceeds of $16.6M ($15M net) from private placement; proceeds for QRX003 development and general corporate.
- Warrant series H, I, J, K with exercise prices $9.075-$12.375 per ADS; potential cash proceeds up to $88M if exercised.
- Investors include AIGH Capital, Soleus Capital, Nantahala Capital, Diadema, Stonepine, ADAR1, Velan; director Langer invested $128k.
- Warrant exercise triggers tied to FDA milestones for QRX003: Type C meeting, pivotal trial endpoints, FDA approval, or PRV sale.
- Directors and officers subject to 180-day lock-up; proceeds with warrant exercise expected to fund operations into 2027.