QNRX on Nasdaq
Quoin Pharmaceuticals Ltd.
We are a late-stage clinical specialty pharmaceutical company focused on the development and commercialization of therapeutic products that treat rare and orphan diseases for which there are.1
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Last updated Oct 19, 2026.
Overview
- TickerQNRX on Nasdaq1
- IndustryPharmaceutical Preparations1
- HeadquartersAshburn, Virginia1
- Incorporated inIsrael3
- Business address42127 Pleasant Forest Court, Ashburn, Va 20148-73493
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation
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We are a late-stage clinical specialty pharmaceutical company focused on the development and commercialization of therapeutic products that treat rare and orphan diseases for which there are currently either no approved or very limited treatments or cures. Our lead product, QRX003, is under clinical development as a potential treatment for Netherton Syndrome (“NS”), a rare hereditary genetic disease. QRX003 is entering pivotal registrational clinical testing under an open Investigational New Drug (“IND”) application with the Food and Drug Administration (“FDA”). We have opened six clinical sites in the United States (“U.S.”) along with international sites that are being opened in the UK, Spain, France and the Netherlands. QRX003 is currently being tested in seven pediatric NS patients in investigator-initiated studies in Ireland, Austria, the Netherlands and New Zealand. QRX003 is also b…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2021
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative | $6.5M | $5.9M |
| Research and development | $9.8M | $3.6M |
| Total operating expenses | $16.3M | $9.5M |
| Unrealized gain | -$4.0K | -$7.5K |
| Realized and accrued interest income | -$482.1K | -$558.5K |
| Total other income | -$486.1K | -$566.0K |
| Net loss | -$15.8M | -$9.0M |
| Foreign currency translation | -$613 | |
| Total other comprehensive loss | -$613 | |
| Comprehensive loss | -$15.8M | -$9.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $3.8M | $3.6M | |
| Investments | $14.9M | $10.4M | |
| Prepaid expenses and other current assets | $1.3M | $869.1K | |
| Total current assets | $20.0M | $14.9M | |
| Prepaid expenses - long term | $300.0K | ||
| Intangible assets, net | $383.3K | $483.3K | |
| Total assets | $20.4M | $15.7M | |
| Accounts payable | $1.3M | $905.7K | |
| Accrued expenses | $2.5M | $1.5M | |
| Accrued interest and financing expense | $1.1M | $1.1M | |
| Due to officers - short term | $600.0K | $600.0K | |
| Total current liabilities | $5.5M | $4.2M | |
| Due to officers - long term | $1.7M | $2.3M | |
| Total liabilities | $7.3M | $6.5M | |
| Ordinary shares, no par value per share, 5,000,000,000 and 100,000,000 ordinary shares authorized at December 31, 2025 and December 31, 2024, respectively - 52,441,360 (1,498,325 ADS's) ordinary shares issued and outstanding at December 31, 2025 and 8,948,164 (255,661 ADS's) ordinary shares issued and outstanding at December 31, 2024 | $0 | $0 | |
| Accumulated other comprehensive loss | -$613 | ||
| Additional paid in capital | $84.1M | $64.4M | |
| Accumulated deficit | -$71.0M | -$55.2M | |
| Total shareholders' equity | $13.1M | $9.2M | $5.7M |
| Total liabilities and shareholders' equity | $20.4M | $15.7M | |
| Ordinary shares, par value | $0.00 | $0.00 | |
| Ordinary shares, shares authorized | 5.0B shares | 100.0M shares | |
| Ordinary shares, shares issued | 52.4M shares | 8.9M shares | |
| Ordinary shares, shares outstanding | 52.4M shares | 8.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $3.8M | $3.6M | |
| Investments | $14.9M | $10.4M | |
| Prepaid expenses and other current assets | $1.3M | $869.1K | |
| Total current assets | $20.0M | $14.9M | |
| Prepaid expenses - long term | $300.0K | ||
| Intangible assets, net | $383.3K | $483.3K | |
| Total assets | $20.4M | $15.7M | |
| Accounts payable | $1.3M | $905.7K | |
| Accrued expenses | $2.5M | $1.5M | |
| Accrued interest and financing expense | $1.1M | $1.1M | |
| Due to officers - short term | $600.0K | $600.0K | |
| Total current liabilities | $5.5M | $4.2M | |
| Due to officers - long term | $1.7M | $2.3M | |
| Total liabilities | $7.3M | $6.5M | |
| Ordinary shares, no par value per share, 5,000,000,000 and 100,000,000 ordinary shares authorized at December 31, 2025 and December 31, 2024, respectively - 52,441,360 (1,498,325 ADS's) ordinary shares issued and outstanding at December 31, 2025 and 8,948,164 (255,661 ADS's) ordinary shares issued and outstanding at December 31, 2024 | $0 | $0 | |
| Accumulated other comprehensive loss | -$613 | ||
| Additional paid in capital | $84.1M | $64.4M | |
| Accumulated deficit | -$71.0M | -$55.2M | |
| Total shareholders' equity | $13.1M | $9.2M | $5.7M |
| Total liabilities and shareholders' equity | $20.4M | $15.7M | |
| Ordinary shares, par value | $0.00 | $0.00 | |
| Ordinary shares, shares authorized | 5.0B shares | 100.0M shares | |
| Ordinary shares, shares issued | 52.4M shares | 8.9M shares | |
| Ordinary shares, shares outstanding | 52.4M shares | 8.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$15.8M | -$9.0M |
| Stock based compensation | $1.1M | $1.3M |
| Amortization of intangibles | $100.0K | $100.0K |
| Realized and unrealized gain and accrued interest on investments | -$215.9K | -$251.6K |
| Increase (decrease) in accounts payable and accrued expenses | $1.3M | $276.0K |
| Decrease in prepaid expenses and other assets | -$92.8K | -$278.1K |
| Net cash used in operating activities | -$13.5M | -$7.9M |
| Purchase of investments | -$12.3M | -$17.3M |
| Proceeds from redemption of investments | $8.0M | $15.4M |
| Net cash used by investing activities | -$4.3M | -$1.9M |
| Payment of amounts due to officers | -$600.0K | -$600.0K |
| Proceeds from sale of equity securities, net | $18.6M | $11.6M |
| Net cash provided by financing activities | $18.0M | $11.0M |
| Effect of foreign exchange rate on changes on cash | -$613 | |
| Net change in cash and cash equivalents: | $194.8K | $1.2M |
| Offering expenses associated with warrant modification | $1.7M | |
| Accrued offering expenses included in additional paid in capital | $40.9K | $323.5K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Quoin Pharmaceuticals Ltd., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief financial officerSally Bridget Lawlor Sep 8, 2025 to now13
- Chief financial officerGordon Dunn Jan 3, 2023 to Dec 27, 202414
- Chief operating officerDenise P. Carter Jan 3, 2023 to now15
Board members and other officers (6)
- Board memberAnthony James Culverwell Jan 3, 2023 to now16
- Board memberDenise P. Carter Jan 3, 2023 to now15
- Board memberDennis Langer Jan 3, 2023 to now17
- Board memberJoseph Patrick Cooper Jan 3, 2023 to now18
- Board memberNatalie Ee Mun Leong Jan 3, 2023 to now19
- Board memberMichael T. Sember Mar 7, 2023 to now20
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
Filings
316 filings to the SEC since October 2021: 5 annual reports, 11 quarterly reports, 64 major events, 67 insider forms, 29 large holders, 3 private raises, 137 other. The latest 20:
- Oct 14, 20268-K EDGAR
- Oct 7, 2026SCHEDULE 13G/A EDGAR
- Oct 2, 2026DEF 14A EDGAR
- Sep 25, 2026EFFECT EDGAR
- Sep 25, 2026424B3 EDGAR
- Sep 22, 2026PRE 14A EDGAR
- Sep 22, 20268-K EDGAR
- Sep 18, 2026S-3 EDGAR
- Sep 10, 2026D EDGAR
- Sep 10, 20268-K EDGAR
- Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 28, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 28, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 28, 20268-K EDGAR
- Aug 20, 20268-K EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
The 316 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
16 open-market trades by officers, directors and large owners since October 2021: 15 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 31, 2026 | Carter Denise P.Chief Operating Officer | Buy | 20,490 | $4.88 | $100.0K | Form 4 |
| Aug 31, 2026 | Myers MichaelChief Executive Officer | Buy | 20,490 | $4.88 | $100.0K | Form 4 |
| Aug 31, 2026 | Lawlor Sally BridgetChief Financial Officer | Buy | 10,244 | $4.88 | $50.0K | Form 4 |
| Aug 31, 2026 | Culverwell Anthony JamesDirector | Buy | 6,146 | $4.88 | $30.0K | Form 4 |
| Oct 14, 2025 | LANGER DENNISDirector | Buy | 15,152 | $8.49 | $128.6K | Form 4 |
| Dec 23, 2024 | Carter Denise P.Chief Operating Officer | Buy | 555,556 | $0.45 | $250.0K | Form 4 |
| Dec 23, 2024 | Myers MichaelChief Executive Officer | Buy | 555,556 | $0.45 | $250.0K | Form 4 |
| Dec 23, 2024 | Dunn GordonChief Financial Officer | Buy | 122,221 | $0.45 | $55.0K | Form 4 |
| Dec 23, 2024 | Culverwell Anthony JamesDirector | Buy | 100,000 | $0.45 | $45.0K | Form 4 |
| Sep 10, 2024 | Dunn GordonChief Financial Officer | Buy | 20,000 | $0.81 | $16.2K | Form 4 |
| Sep 9, 2024 | Dunn GordonChief Financial Officer | Buy | 8,856 | $0.79 | $7.0K | Form 4 |
| Sep 4, 2024 | Carter Denise P.Chief Operating Officer | Buy | 31,813 | $0.79 | $25.0K | Form 4 |
| Sep 4, 2024 | Myers MichaelChief Executive Officer | Buy | 37,094 | $0.77 | $28.5K | Form 4 |
| Sep 3, 2024 | Carter Denise P.Chief Operating Officer | Buy | 5,922 | $0.65 | $3.9K | Form 4 |
| Sep 3, 2024 | Myers MichaelChief Executive Officer | Buy | 800 | $0.62 | $496 | Form 4 |
| Jun 7, 2024 | LANGER DENNISDirector | Sale | 297 | $0.73 | $217 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ikarian Capital, LLCSCHEDULE 13G/A, 3 filings Dec 15, 2025 to Oct 7, 202623
- INTEGRATED CORE STRATEGIES (US) LLCSCHEDULE 13G, 3 filings Oct 27, 2025 to Jun 2, 202624
- ADAR1 Capital Management, LLCSCHEDULE 13G/A, 2 filings Feb 17, 2026 to May 15, 202625
- Stonepine Capital Management, LLCSCHEDULE 13G/A, 3 filings Dec 16, 2025 to May 15, 202626
- Woodline Partners LPSCHEDULE 13G/A, 2 filings Feb 17, 2026 to May 15, 202627
- Aberdeen Group plcSCHEDULE 13G/A, 2 filings Jan 28, 2026 to Apr 29, 202628
- Resolute Capital Asset Partners LLCSCHEDULE 13G, 1 filing Dec 11, 202529
- ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 2 filings Feb 14, 2025 to May 15, 202530
- Denise P. CarterSCHEDULE 13D/A, 2 filings Jan 2, 2025 to Jan 28, 202531
- Michael MyersSCHEDULE 13D/A, 2 filings Jan 2, 2025 to Jan 28, 202532
- Lind Global Fund II LPSC 13G/A, 3 filings Mar 3, 2023 to Nov 14, 202433
- CVI Investments, Inc.SC 13G/A, 2 filings Aug 12, 2022 to Feb 14, 202334
- Altium Capital Management LLCSC 13G/A, 2 filings Nov 12, 2021 to Feb 14, 202235
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Dauntless Investment Group, LLC | 214,987 | $1.0M | 1.8% | +18,395 |
| Ikarian Capital, LLC | 211,538 | $1.0M | 0.2% | No change |
| Stonepine Capital Management, LLC | 199,486 | $965.5K | 0.7% | +146,026 |
| Millennium Management LLC | 112,323 | $543.6K | 0.0% | +36,076 |
| SummitTX Capital, L.P. | 100,300 | $485.5K | 0.0% | No change |
| Woodline Partners LP | 76,446 | $370.0K | 0.0% | −3,136 |
| Aberdeen Group plc | 75,000 | $363.0K | 0.0% | No change |
| Soleus Capital Management, L.P. | 72,730 | $352.0K | 0.0% | No change |
| AIGH Capital Management LLC | 70,000 | $338.8K | 0.0% | +19,000 |
| Boothbay Fund Management, LLC | 59,838 | $289.6K | 0.0% | No change |
| Velan Capital Investment Management LP | 32,372 | $156.7K | 0.1% | −52,477 |
| Barclays PLC | 21,469 | $103.9K | 0.0% | +20,169 |
| Birchview Capital, LP | 20,000 | $96.8K | 0.0% | No change |
| XTX Topco Ltd | 15,006 | $72.6K | 0.0% | New |
| Morgan Stanley | 8,000 | $38.7K | 0.0% | +4,000 |
| UBS Group AG | 6,772 | $32.8K | 0.0% | +4,260 |
| Rhumbline Advisers | 2,332 | $11.3K | 0.0% | +811 |
| GAMMA Investing LLC | 439 | $2.1K | 0.0% | −1,281 |
| SBI Securities Co., Ltd. | 355 | $1.7K | 0.0% | +353 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARGordon Dunn, Chief financial officer
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- 17SEC EDGARDennis Langer, Board member
- 18SEC EDGARJoseph Patrick Cooper, Board member
- 19SEC EDGARNatalie Ee Mun Leong, Board member
- 20SEC EDGARMichael T. Sember, Board member
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