Quoin Pharmaceuticals, Ltd.

Quoin Pharmaceuticals, Ltd. reported a net loss of $15.8 million for the fiscal year ended December 31, 2025, compared to a net loss of $9.0 million in the prior year. The increased loss was driven by a significant rise in research and development expenses to $9.8 million, up from $3.6 million in 2024, as the company advanced its lead product candidate QRX003 into late-stage clinical testing for Netherton Syndrome. General and administrative expenses also increased to $6.5 million. The company generated no revenue, consistent with its pre-commercial stage. Cash used in operating activities was $13.5 million. Management has concluded there is substantial doubt about the company's ability to continue as a going concern, citing an accumulated deficit of $71.0 million and the need for additional capital to fund operations and complete clinical development.

Key Takeaways