QNRX

Market Performance: U.S. stocks showed mixed results, with the Dow up 0.13% while the Nasdaq fell 0.42% and the S&P 500 dropped 0.15%. Energy shares increased by 0.9%, but information technology stocks declined by 0.7%.

Company Highlights: Sea Ltd's shares rose 4% after reporting a 38.3% increase in quarterly revenue, despite missing earnings expectations. MSP Recovery Inc saw a significant 104% increase in its stock price.

Declining Stocks: Vor Biopharma Inc and Salarius Pharmaceuticals Inc experienced substantial drops of 48% and 50%, respectively, following announcements related to public offerings. Outset Medical Inc also fell 42% after disappointing financial results.

Global Market Trends: European shares rose, with the eurozone's STOXX 600 up 0.8%, while Asian markets closed mixed, with Japan's Nikkei 225 down slightly and India's BSE Sensex up 0.40%.

FDA Approval and Orphan Drug Designation: Quoin Pharmaceuticals has received Orphan Drug Designation from the FDA for its product QRX003, aimed at treating Netherton Syndrome, following a similar designation from the EMA in May 2025.

Market Exclusivity and Benefits: If approved, QRX003 will enjoy seven years of marketing exclusivity in the U.S., along with benefits such as tax credits for clinical testing and reduced FDA application fees.

Clinical Trials and Development Timeline: QRX003 is currently being evaluated in two late-stage pivotal clinical trials, with enrollment expected to complete by Q1 2026 and top-line data anticipated in the second half of 2026.

Company Commitment: Quoin Pharmaceuticals emphasizes its dedication to advancing QRX003's clinical development to address the unmet medical needs of patients suffering from Netherton Syndrome and other rare diseases.