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Quoin Pharmaceuticals Ltd. (QNRX-2.79%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing treatments for rare and orphan diseases, with its lead product, QRX003, currently in clinical development for Netherton Syndrome.
Quoin Pharmaceuticals reported a net loss of $8,962,472 for the year, compared to a net loss of $8,686,573 in the previous year.
General and administrative expenses were approximately $5,925,833, slightly down from $6,070,517 in 2023, while research and development expenses increased to $3,602,632 from $3,307,987.
The company completed several public offerings during 2024, raising net proceeds of approximately $11.6 million to support its operations and development programs.
Quoin Pharmaceuticals continues to expand its clinical trials for QRX003 internationally and is preparing to commercialize the product upon regulatory approval.
The company is also pursuing additional research agreements and potential product candidates to expand its pipeline.
Quoin Pharmaceuticals acknowledges the need for further funding to support its operations and future development efforts.
The company does not anticipate generating revenue from product sales until it successfully completes development and obtains marketing approval for its product candidates.
Quoin Pharmaceuticals maintains a compensation policy for its executives and board members, with adjustments approved at the 2024 Annual Meeting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Quoin Pharmaceuticals Ltd. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.