Quoin Pharmaceuticals Announces Private Placement Financing of Up to $50 Million

Quoin Pharmaceuticals (NASDAQ:
QNRX) announced on August 28, 2026, that it entered a securities purchase agreement for a private placement targeting up to approximately $50.0 million in gross proceeds.

The financing consists of approximately $30.8 million in upfront proceeds and up to $19.2 million from potential cash exercise of accompanying warrants.

Quoin plans to issue 6,305,300 ADSs—or pre-funded warrants in lieu of some ADSs—along with warrants to purchase up to 3,152,650 additional ADSs.

The units are priced at $4.88 per ADS and accompanying warrant. The warrants are immediately exercisable at $6.10 per ADS and generally expire five years after closing, subject to an earlier expiration tied to clinical-trial news.

The transaction was expected to close around August 31, 2026, subject to customary conditions. Leerink Partners is lead placement agent, with BTIG and Lake Street Capital Markets as co-placement agents.

Quoin expects to use the net proceeds for general corporate purposes, operating expenses, research and development, and completion of QRX003 clinical development for Netherton Syndrome.

Assuming full warrant exercise, the company expects its aggregate net proceeds to fund operations into the second half of 2029.

The financing provides a substantial extension of Quoin’s cash runway but could materially increase the number of outstanding shares and create potential warrant-related dilution.

The announcement followed interim Phase 2/3 QRX003 data in which 4 of 6 patients reportedly achieved the primary Week 12 endpoint, adding a positive clinical catalyst to the financing news.