Quoin reports positive QRX003 interim data, raises up to $50M in private placement

Quoin Pharmaceuticals, Ltd.

Private placement up to $50M: $30.8M upfront at $4.88/ADS+warrant, 6,305,300 ADSs and warrants for 3,152,650 ADSs.
Net proceeds ~$29M at Aug 31 close; funds into 2H 2029; proceeds for QRX003 development and general corporate.
Phase 2/3 CL-QRX003-004: 4/6 (66.7%) met primary endpoint (≥1-grade IGA improvement), p=0.0087 vs α=0.0215.
Secondary GIC endpoint significant (p=0.007); no treatment-related SAEs; recruitment done by end 2026, topline 2Q 2027.
Exchange agreements: issued 222,574 ADSs to settle ~$1.146M accrued interest on 2020 notes.

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