Quoin Raises Up To $50 Million to Fund QRX003, Extending Runway into 2029
Quoin Pharmaceuticals announced a private placement to raise up to $50 million, with about $30.8 million upfront and up to $19.2 million via warrants. It will issue 6,305,300 ADSs and 3,152,650 accompanying warrants at $4.88 per ADS, with a $6.10 exercise price and a five-year expiry. Proceeds will fund QRX003 development for Netherton Syndrome and general corporate needs, extending the company’s cash runway into the second half of 2029.
View signal analysis