Quoin soars on FDA clearance to start testing of its QRX003 lotion for rare skin disorder

Apr. 25, 2022 9:04 AM ETQuoin Pharmaceuticals, Ltd. (QNRX)By: Anuron Mitra, SA News Editor

Headquarters of US Food and Drug Administration (FDA)

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  • American depositary shares of Quoin Pharmaceuticals (NASDAQ:QNRX) have added 45.7% in premarket trading on Monday after the U.S. Food and Drug Administration cleared the company's new drug application for its investigational lotion QRX003 to treat skin disorder Netherton Syndrome.
  • The company expects to initiate clinical testing in patients with Netherton Syndrome (NS) in H1 this year.
  • QNRX's QRX003 lotion contains a protease inhibitor that intends to perform the function of a specific protein called LEKTI. The absence of LEKTI in NS patients leads to excessive skin shedding. Daily application of QRX003 is designed to lead to a more normalized skin shedding process.
  • Up to Friday's close, QNRX stock -42.3% YTD

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