aibioQuoin reports second quarter 2026 results and QRX003 progress
Tickers QNRX
Quoin said it had about $10.8 million in cash, cash equivalents and marketable securities as of June 30, 2026, and that it expects that position to fund operations into 2027.
Key facts
- Company
- Quoin Pharmaceuticals, Ltd. (NASDAQ: QNRX)
- News type
- Company Updates
- Primary source
- Quoin Pharmaceuticals, Ltd. 8-K (2026-08-14)
The second quarter update
Quoin Pharmaceuticals, Ltd. (NASDAQ: QNRX) reported on August 14, 2026 that it had made several corporate and clinical advances and published its financial results for the second quarter ended June 30, 2026. The company describes itself as a late clinical-stage specialty pharmaceutical company focused on rare and orphan diseases. Its two platform products, QRX003 and QRX009, make up its development pipeline.
The release led with regulatory news on QRX003, a topical lotion being developed for Netherton Syndrome, a rare inherited skin disorder. On June 23, 2026, the U.S. Food and Drug Administration conditionally approved QYLEKI as the proposed brand name for QRX003. On June 30, 2026, the U.S. Patent and Trademark Office issued a Notice of Allowance for a patent application covering a combination treatment for Netherton Syndrome. The allowed claims cover a method of treating the disease with a topical serine protease inhibitor together with an anti-inflammatory agent, including in patients carrying SPINK5 mutations. The company also reported what it called a positive clinical update on June 16, 2026 from its Pediatric Compassionate Use Program. The sources give no patient numbers, endpoints or statistics for that update.
Pipeline and next steps
Quoin said it submitted its first-ever IND to the FDA for Peeling Skin Syndrome on June 2, 2026. That is the second indication for QRX003. The FDA cleared the IND on July 9, 2026, and the company plans a Phase 2/3 study, which it describes as the first company-sponsored formal clinical study for the disease. The study is expected to start in the second half of 2026. The release says there is currently no approved treatment for Peeling Skin Syndrome.
The second platform, QRX009, is a topical rapamycin program that Quoin says is advancing toward clinical testing. Quoin also plans to submit an IND to the FDA for an additional QRX009 indication before the end of 2026. Dr. Michael Myers, Chief Executive Officer and Co-Founder, said "The second quarter was a highly productive period across both of our delivery technology platforms".
Financial position
Quoin said it had approximately $10.8 million in cash, cash equivalents and marketable securities as of June 30, 2026. It believes that cash position will fund operations into 2027. The quarterly report filed with the SEC on the same day gives the split between the two lines: cash and cash equivalents of $3.8 million and short-term investments of $7.0 million at June 30, 2026. The net loss for the quarter ended June 30, 2026 was approximately $5.4 million, compared with approximately $3.7 million for the quarter ended June 30, 2025. For the six months, the net loss was approximately $10.4 million, against approximately $7.5 million a year earlier.
The annual report for 2025, filed March 26, 2026, shows research and development expense of $9.8 million for 2025, against $3.6 million for 2024. It reports a net loss of $15.8 million for 2025, compared with $9.0 million for 2024, and cash used in operations of $13.5 million for 2025, compared with $7.9 million for 2024. The same report states that no products have been commercialized and no revenue has been generated to date.
The risks ahead
Quoin has no approved product and no revenue, and its annual report says so. The "approval" in the release's headline is conditional approval of a proposed brand name, which says nothing about whether the drug works. The patent notice of allowance is not yet an issued patent. The IND clearance for Peeling Skin Syndrome allows a study to begin, and the study has not started. QRX009 has not entered the clinic, and pivotal testing of QRX003 in Netherton Syndrome is still ahead.
The cash position is the sharper concern. The company says its $10.8 million in cash, cash equivalents and marketable securities will fund operations only into 2027. Filing data show cash and cash equivalents of $3.8 million and short-term investments of $14.9 million at December 31, 2025, against $3.8 million and $7.0 million at June 30, 2026. The 2025 annual report shows $13.5 million of cash used in operations for that year, and the latest quarterly net loss was $5.4 million, up from $3.7 million a year earlier.