Quoin Pharmaceuticals, Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 14, 2024 at 02:23 am IST
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Quoin Pharmaceuticals, Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net loss was USD 2.05 million compared to USD 2 million a year ago.
For the full year, net loss was USD 8.69 million compared to USD 9.38 million a year ago.
Quoin Pharmaceuticals Ltd, former Cellect Biotechnology Ltd, is an Israel-based specialty pharmaceutical company, focused on developing and commercializing therapeutic products that treat rare and orphan diseases. The Companyâs first lead product is QRX003, a once daily, topical lotion comprised of a broad-spectrum serine protease inhibitor, formulated with the proprietary Invisicare technology, to treat Netherton Syndrome. The product going to be developed for other rare dermatological diseases including Peeling Skin Syndrome, SAM Syndrome, and Palmoplantar Keratoderma. Quoin is also developing QRX004 as a potential treatment for Dystrophic Epidermolysis Bullosa, and QRX006 as a potential therapy for an, as of yet, undisclosed rare skin disease.