Quoin Pharmaceuticals Stock Surges 157% on $104.5 Million Funding Deal

Quoin Pharmaceuticals (QNRX) shares skyrocketed 157% Friday after securing a private placement agreement worth up to $104.5 million from healthcare-focused institutional investors. The deal includes an immediate $16.5 million cash infusion and potential additional funding through warrant exercises.

The financing was priced at a premium to Quoin's previous closing stock price, signaling strong confidence in its pipeline—particularly lead candidate QRX003, a topical therapy for Netherton Syndrome. Proceeds will accelerate clinical development, with total funding expected to sustain operations through 2027.

Maxim Group maintains a Moderate Buy rating on QNRX, citing the company's strengthened financial position and developmental runway. The market response underscores investor appetite for biopharma plays with clear capital pathways.