Breaking News: Quoin Pharmaceuticals Sets Record with $6.8 Million Public Offering!
ASHBURN, Va., Dec. 20, 2024 (GLOBE NEWSWIRE) — Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a clinical stage, specialty pharmaceutical company focused on rare and orphan diseases, today announced the pricing of its “reasonable best efforts” public offering of 15,111,110 ordinary shares represented by 15,111,110 American Depositary Shares (“ADSs”) (or pre-funded warrants in lieu thereof), Series F warrants to purchase an aggregate of up to 15,111,110 ordinary shares represented by 15,111,110 ADSs and Series G warrants to purchase an aggregate of up to 15,111,110 ordinary shares represented by 15,111,110 ADSs at a combined purchase price of $0.45 per ADS and associated Series F and Series G warrants. The Series F warrants and Series G warrants will have an exercise price of $0.45 per share, will be exercisable immediately following the date of issuance and will expire in two years and five years, respectively, from their issuance.
Quoin Pharmaceuticals, a company specializing in rare and orphan diseases, has made headlines with its recent public offering of $6.8 million. This offering includes a significant number of shares and warrants at a purchase price of $0.45 per ADS, aiming to raise funds for the development of new treatments and therapies. The Series F and Series G warrants included in the offering provide investors with the opportunity to purchase additional shares at the same price, further enhancing the potential for growth and expansion within the company.
The pharmaceutical industry is a critical sector that plays a vital role in improving healthcare and advancing medical research. Companies like Quoin Pharmaceuticals are at the forefront of innovation, focusing on addressing the needs of patients with rare diseases that often lack treatment options. By raising funds through a public offering, Quoin can accelerate its research efforts, bring new products to market, and ultimately make a positive impact on the lives of individuals affected by these conditions.
Investors have shown interest in Quoin Pharmaceuticals due to its dedication to rare diseases and commitment to developing effective therapies. The successful completion of this public offering demonstrates confidence in the company’s potential for growth and success in the pharmaceutical market. With the support of investors, Quoin Pharmaceuticals can continue to advance its research initiatives and expand its portfolio of treatments for rare and orphan diseases.
How this will affect me:
As an investor, the news of Quoin Pharmaceuticals’ record-setting public offering may present a compelling opportunity to participate in the growth of a company dedicated to addressing unmet medical needs. By investing in Quoin, you are supporting the development of innovative treatments for rare diseases and contributing to the advancement of healthcare solutions that can benefit patients around the world.
How this will affect the world:
The success of Quoin Pharmaceuticals’ public offering signifies progress in the field of rare disease research and underscores the importance of investing in companies that are working towards improving healthcare outcomes globally. This achievement has the potential to drive advancements in the development of new therapies, ultimately benefiting individuals living with rare and orphan diseases worldwide.
Conclusion
Quoin Pharmaceuticals’ $6.8 million public offering marks a significant milestone for the company and the pharmaceutical industry as a whole. By raising funds through this offering, Quoin can further its mission of developing treatments for rare diseases and making a positive impact on patient care. The support of investors reflects confidence in the company’s potential for growth and success, paving the way for continued innovation and advancements in healthcare.
