Quoin Pharmaceuticals Announces Insider Share Purchases by Co-Founders CEO and COO

Rhea-AI Summary

Quoin Pharmaceuticals (NASDAQ: QNRX), a clinical stage specialty pharmaceutical company, announced significant insider share purchases by its co-founders. CEO Michael Myers acquired 37,894 American Depositary Shares (ADSs) at prices ranging from $0.619 to $0.7974 per ADS on September 3-4, 2024. Similarly, COO Denise Carter purchased 37,735 ADSs between $0.6253 and $0.7965 per ADS during the same period.

These insider purchases are viewed as a strong signal of leadership confidence in Quoin's growth trajectory and commitment to delivering long-term shareholder value. The company focuses on developing and commercializing novel treatments for rare and orphan diseases, aiming to address unmet needs in underserved patient populations globally.

Positive

• Significant insider share purchases by CEO and COO, demonstrating confidence in the company's future
• Leadership's commitment to long-term shareholder value
• Company's focus on addressing unmet needs in rare and orphan diseases

Negative

• None.

Financial Analyst

The insider purchases by Quoin Pharmaceuticals' CEO and COO are a positive signal for investors. While the total investment amount is relatively modest ($50,000-$60,000 each), the timing and symmetry of these purchases suggest a coordinated effort to demonstrate confidence in the company's future.

However, it's important to note that Quoin's stock price has been volatile and declining over the past year, trading well below $1 per share. This could indicate that the executives view the current price as undervalued, but it also highlights the company's financial challenges. Investors should consider these purchases in the context of Quoin's overall financial health, pipeline progress and market position in the rare disease space before making investment decisions.

Medical Research Analyst

While insider purchases can be encouraging, they don't directly impact Quoin's clinical progress. As a clinical-stage company focusing on rare and orphan diseases, Quoin's value is primarily driven by its pipeline developments and regulatory milestones. Investors should focus on upcoming clinical trial results, potential partnerships and regulatory interactions.

The rare disease market offers significant opportunities due to high unmet needs and potential for premium pricing. However, it also presents challenges in patient recruitment and regulatory hurdles. Quoin's success will depend on its ability to navigate these complexities and demonstrate clear clinical benefits in its target indications.

Purchases Signal Leadership Confidence and Commitment to Company

ASHBURN, Va., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals (NASDAQ: QNRX), a clinical stage, specialty pharmaceutical company focused on developing and commercializing novel treatments for rare and orphan diseases, today announced that its Chief Executive Officer, Michael Myers, and Chief Operating Officer, Denise Carter, have recently made significant purchases of the company’s American Depositary Shares (ADSs), signaling their confidence in the company’s growth and direction.

On September 3 and 4, 2024, Michael Myers, CEO of Quoin Pharmaceuticals, acquired a total of 37,894 ADSs at prices ranging from $0.619 to $0.7974 per ADS. Similarly, COO Denise Carter acquired a total of 37,735 ADSs between September 3 and 4, 2024, at prices between $0.6253 and $0.7965 per ADS. These insider purchases reflect the leadership’s strong confidence in Quoin’s growth trajectory and commitment to delivering long-term value to shareholders as the company advances its mission to address unmet needs in underserved patient populations globally.

About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is an emerging specialty pharmaceutical company focused on developing and commercializing therapeutic products that treat rare and orphan diseases. We are committed to addressing unmet medical needs for patients, their families, communities and care teams. Quoin’s innovative pipeline comprises three products in development that collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Epidermolysis Bullosa and others. For more information, go to: www.quoinpharma.com.

Cautionary Note Regarding Forward Looking Statements

The Company cautions that statements in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. All statements that reflect the Company’s expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements, including, without limitation, strong confidence in Quoin’s growth trajectory, delivering long-term value to the Company’s shareholders as the Company advances its mission to address unmet needs in underserved patient populations globally, and Quoin’s three products in development collectively having the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Epidermolysis Bullosa and others. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, our ability to generate favorable pre-clinical and clinical trial results; costs or delays associated with unsuccessful clinical trials; the Company’s ability to obtain regulatory approvals and the extensive regulatory requirements and future developmental and regulatory challenges the Company will still face even if it obtains approval for a product candidate and other factors identified in the Company’s filings with the SEC. For additional information concerning factors that could cause actual results to differ materially from the information contained in this press release, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 that the Company filed with the SEC and the Company’s subsequent filings with the SEC on Forms 10-Q and 8-K. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

For further information, contact:
Quoin Pharmaceuticals Ltd.
Michael Myers, Ph.D., CEO
mmyers@quoinpharma.com

Investor Relations
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
(646) 863-6341

FAQ

How many ADSs did Quoin Pharmaceuticals' CEO Michael Myers purchase in September 2024?

Quoin Pharmaceuticals' CEO Michael Myers purchased a total of 37,894 American Depositary Shares (ADSs) on September 3 and 4, 2024.

What was the price range of the ADSs purchased by Quoin Pharmaceuticals' COO Denise Carter?

Quoin Pharmaceuticals' COO Denise Carter purchased ADSs at prices ranging between $0.6253 and $0.7965 per ADS.

What is the focus of Quoin Pharmaceuticals (QNRX)?

Quoin Pharmaceuticals (QNRX) is a clinical stage, specialty pharmaceutical company focused on developing and commercializing novel treatments for rare and orphan diseases.

When did the insider share purchases by Quoin Pharmaceuticals' executives take place?

The insider share purchases by Quoin Pharmaceuticals' CEO and COO took place on September 3 and 4, 2024.