Quoin Pharmaceuticals Announces Private Placement Financing of Up to $50.0 Million
Quoin Pharmaceuticals priced a private placement of 6.3 million ADSs and accompanying warrants at $4.88 per unit, raising $30.8 million upfront with the potential for another $19.2 million. The financing extends the company's cash runway into the second half of 2029, providing funding for clinical development of QRX003 for Netherton Syndrome and general corporate purposes.
Key figures
- Deal Value Usd
- 50000000
- Offering Price
- 4.88
- Shares Offered
- 6305300
- Warrant shares
- 3152650
- Runway end date
- second half of 2029
- Upfront proceeds usd
- 30800000
- Warrant exercise price
- 6.1
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