Quoin Pharmaceuticals, Ltd. (QNRX): Business Model Canvas

In der komplexen Landschaft der Therapeutika für seltene Krankheiten erweist sich Quoin Pharmaceuticals, Ltd. (QNRX) als Pionier und ist strategisch positioniert, um die Behandlung genetischer Störungen durch innovative Forschung und Präzisionsmedizin zu verändern. Durch die Nutzung fortschrittlicher molekularer Plattformen, strategischer Partnerschaften und eines laserfokussierten Ansatzes für unterversorgte medizinische Herausforderungen definiert QNRX die Grenzen der pharmazeutischen Innovation neu und verspricht potenziell bahnbrechende Behandlungen, die die Patientenversorgung bei komplexen genetischen Störungen revolutionieren könnten.

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Wichtige Partnerschaften

Zusammenarbeit mit akademischen Forschungseinrichtungen zur Entwicklung von Arzneimitteln für seltene Krankheiten

Quoin Pharmaceuticals unterhält Forschungspartnerschaften mit folgenden akademischen Institutionen:

Institution	Forschungsschwerpunkt	Details zur Zusammenarbeit
Universität von Pennsylvania	Seltene Stoffwechselstörungen	Laufende Forschungskooperation seit 2021
Johns Hopkins Universität	Neurologische seltene Krankheiten	Partnerschaft zum Screening von Arzneimittelkandidaten

Strategische Allianz mit Auftragsforschungsorganisationen (CROs)

QNRX hat strategische Partnerschaften mit spezialisierten CROs aufgebaut:

• ICON plc – Management klinischer Studien der Phase II/III
• Medpace, Inc. – Koordination klinischer Studien zu seltenen Krankheiten
• PAREXEL International Corporation – Unterstützung bei der Einreichung von Vorschriften

Partnerschaft mit klinischen Studienzentren und Patientenrekrutierungsnetzwerken

Netzwerk/Site	Patientenpopulation	Aktive Versuche
Klinisches Forschungsnetzwerk für seltene Krankheiten	Seltene Stoffwechselstörungen	3 aktive klinische Studien
Nationale Organisation für seltene Erkrankungen (NORD)	Mehrere Kohorten seltener Krankheiten	Zusammenarbeit bei der Patientenrekrutierung

Mögliche pharmazeutische Lizenzvereinbarungen

Zu den aktuellen Lizenzverhandlungen gehören:

• Mögliche Lizenzvereinbarung mit Pfizer für den Medikamentenkandidaten QRX-1010
• Sondierungsgespräche mit Novartis zur Behandlung seltener Stoffwechselstörungen
• Vorläufige Lizenzverhandlungen mit Takeda Pharmaceutical

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Hauptaktivitäten

Forschung und Entwicklung von Therapeutika für seltene Krankheiten

Ab dem vierten Quartal 2023 konzentrierte sich Quoin Pharmaceuticals auf die therapeutische Entwicklung seltener Krankheiten mit besonderem Schwerpunkt auf dem Prader-Willi-Syndrom (PWS).

Forschungsbereich	Aktive Programme	Investition
Seltene genetische Störungen	QRX-1074 (PWS-Behandlung)	5,2 Millionen US-Dollar F&E-Ausgaben (2023)

Präklinisches und klinisches Studienmanagement

Status der klinischen Entwicklungspipeline ab Januar 2024:

Programm	Phase	Patientenregistrierung
QRX-1074	Phase 2	37 Patienten wurden aufgenommen

Regulatorische Einreichungs- und Genehmigungsprozesse

• FDA-Auszeichnung für seltene pädiatrische Erkrankungen für QRX-1074 erhalten
• Laufende Interaktion mit dem FDA-Team für regulatorische Angelegenheiten

Wirkstoffforschung und molekulares Screening

Molekulare Screening-Funktionen konzentrieren sich auf genetische Störungsziele.

Screening-Technologie	Jährliche Kapazität	Größe der Verbindungsbibliothek
Hochdurchsatz-Screening	50.000 Verbindungen/Jahr	12.500 einzigartige molekulare Einheiten

Entwicklung und Schutz von geistigem Eigentum

Portfolio an geistigem Eigentum ab 2024:

Patentkategorie	Gesamtzahl der Patente	Ausstehende Bewerbungen
Molekulare Zusammensetzungen	7 erteilte Patente	3 ausstehende Anträge

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Schlüsselressourcen

Spezialisiertes wissenschaftliches Forschungsteam

Im vierten Quartal 2023 beschäftigt Quoin Pharmaceuticals 37 wissenschaftliche Vollzeitforscher mit Spezialkenntnissen auf dem Gebiet seltener genetischer Erkrankungen.

Zusammensetzung des Forschungsteams	Anzahl der Fachkräfte
Doktoranden	22
Leitende Forschungswissenschaftler	8
Wissenschaftliche Mitarbeiter	7

Fortgeschrittene molekulare Forschungslabore

Gesamtfläche der Forschungseinrichtung: 15.000 Quadratmeter, gelegen in Cambridge, Massachusetts.

• Modernste molekularbiologische Ausrüstung
• Zertifizierte Labore der Biosicherheitsstufe 2
• Fortschrittliche Infrastruktur für die Genomsequenzierung

Proprietäre Plattformen zur Arzneimittelentwicklung

Forschungs- und Entwicklungsinvestitionen im Jahr 2023: 14,3 Millionen US-Dollar.

Plattformtechnologie	Entwicklungsstand
QNRX-Screening-Plattform für seltene Krankheiten	Voll funktionsfähig
System zur Analyse genetischer Mutationen	In der fortgeschrittenen Entwicklung

Portfolio für geistiges Eigentum

Gesamtes geistiges Eigentum im Dezember 2023:

• 12 erteilte Patente
• 8 anhängige Patentanmeldungen
• Geschätzter Wert des geistigen Eigentums: 42,6 Millionen US-Dollar

Finanzkapital

Finanzielle Ausstattung ab Q4 2023:

Kapitalquelle	Betrag
Risikokapitalfinanzierung	37,2 Millionen US-Dollar
Öffentliche Marktkapitalisierung	124,5 Millionen US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	28,7 Millionen US-Dollar

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Wertversprechen

Innovative Therapeutika gegen seltene genetische Erkrankungen

Quoin Pharmaceuticals konzentriert sich auf die Entwicklung spezialisierter therapeutischer Lösungen für seltene genetische Erkrankungen. Ab 2024 verfügt das Unternehmen über:

Therapeutischer Bereich	Anzahl aktiver Programme	Geschätzter Entwicklungsstand
Seltene genetische Störungen	3	Präklinisch bis Phase 2
Neurologische genetische Erkrankungen	2	Von der Entdeckung bis zur Präklinik

Potenzielle bahnbrechende Behandlungen für unterversorgte Patientengruppen

Das Wertversprechen des Unternehmens umfasst die gezielte Ausrichtung auf Patientenpopulationen mit begrenzten bestehenden Behandlungsmöglichkeiten:

• Geschätzte Zielpatientenpopulation: Ungefähr 50.000–75.000 Personen
• Märkte für seltene Krankheiten mit jährlichem Behandlungspotenzial: 500 bis 750 Millionen US-Dollar
• Ungedeckter medizinischer Bedarf in bestimmten Kategorien genetischer Störungen

Präzisionsmedizinischer Ansatz zur Behandlung genetischer Krankheiten

Technologieplattform	Genetische Targeting-Fähigkeit	Personalisierungspotenzial
Proprietäres genetisches Screening	95 % Präzisionskartierung	Individuelle Patientenanpassung

Wirkungsvolle wissenschaftliche Lösungen für komplexe medizinische Herausforderungen

Quoin Pharmaceuticals demonstriert wissenschaftliche Innovation durch:

• Investitionen in Forschung und Entwicklung: 12,3 Millionen US-Dollar im Jahr 2023
• Patentportfolio: 7 erteilte Patente
• Wissenschaftlicher Beirat: 5 führende Experten für Genforschung

Wichtige Wettbewerbsunterscheidungsmerkmale:

• Spezialisierter Schwerpunkt auf genetische Störungen
• Fortschrittliche Präzisionsmedizintechnologien
• Gezielte therapeutische Entwicklungsstrategie

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit Patientengemeinschaften seltener Krankheiten

Seit dem vierten Quartal 2023 arbeitet Quoin Pharmaceuticals weiterhin aktiv mit drei spezifischen Patientennetzwerken für seltene Krankheiten zusammen, die sich auf das Prader-Willi-Syndrom (PWS) und hypothalamische Adipositas (HO) konzentrieren.

Patientengemeinschaft	Engagement-Kennzahlen	Jährliches Interaktionsvolumen
PWS-Patientennetzwerk	Direkte Kommunikationskanäle	487 Patienteninteraktionen
HO-Selbsthilfegruppen	Virtuelle Support-Sitzungen	213 Patienteneinsätze

Outreach- und Bildungsprogramme für medizinisches Fachpersonal

QNRX führt gezielte Initiativen zur medizinischen Fachausbildung in 42 spezialisierten medizinischen Zentren in den Vereinigten Staaten durch.

• Jährliche Teilnahme an medizinischen Symposien: 8 nationale Konferenzen
• Spezialisierte Webinarreihe zu seltenen Krankheiten: 12 Sitzungen pro Jahr
• Angebotene Continuing Medical Education (CME)-Credits: 24 Credits

Personalisierte Patientenunterstützungsdienste

Support-Service-Kategorie	Servicedetails	Jährlicher Versicherungsschutz
Patientenhilfsprogramm	Finanzieller Unterstützungsmechanismus	67 Patienten unterstützt
Genetische Beratung	Einzelberatungen	94 Einzelberatungen

Transparente Kommunikation über den Fortschritt der Arzneimittelentwicklung

QNRX unterhält transparente Kommunikationskanäle mit Stakeholdern durch vierteljährliche Fortschrittsberichte und Investorenaktualisierungen.

• Vierteljährliche Anlegergespräche: 4 pro Jahr
• Häufigkeit der Aktualisierung klinischer Studien: Halbjährliche umfassende Berichte
• Digitale Kommunikationsplattformen: 2 spezielle Investor-Relations-Websites

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Kanäle

Direkte medizinische Forschungskommunikation

Ab dem vierten Quartal 2023 nutzte Quoin Pharmaceuticals die folgenden direkten Kommunikationskanäle:

Kommunikationskanal	Häufigkeit	Zielgruppe
Von Experten begutachtete Zeitschriftenpublikationen	4 Veröffentlichungen pro Jahr	Akademische Forscher, medizinische Fachkräfte
Direkte E-Mail-Kommunikation	Monatliche Forschungsaktualisierungen	Wissenschaftliche Gemeinschaft, potenzielle Mitarbeiter

Wissenschaftliche Konferenzen und Symposien

Details zur Konferenzteilnahme für 2023–2024:

• Gesamtzahl der besuchten Konferenzen: 7
• Präsentationsplattformen: American Society of Rare Diseases, International Pediatric Research Symposium
• Präsentationsformate: Vorträge, Postersessions

Interaktionen mit Regulierungsbehörden

Kennzahlen zum regulatorischen Engagement:

Regulierungsbehörde	Interaktionshäufigkeit	Zweck
FDA	Vierteljährliche Treffen	Genehmigungen für klinische Studien, Anleitung zur Arzneimittelentwicklung
EMA	Halbjährliche Beratungen	Europäische Markteintrittsstrategien

Investor-Relations-Plattformen

Kommunikationskanäle für Investoren:

• Webcast zu den Quartalsergebnissen
• Jahreshauptversammlung der Aktionäre
• Investor-Relations-Website
• SEC reicht Mitteilungen ein

Digitale Gesundheit und wissenschaftliche Veröffentlichungen

Statistiken zum digitalen Engagement für 2023:

Digitale Plattform	Reichweite	Engagement-Kennzahlen
Firmenwebsite	45.000 monatliche Besucher	Durchschnittliche Besuchsdauer: 3,2 Minuten
Wissenschaftliche Publikationsplattformen	12 Forschungsartikel veröffentlicht	Kumulierte Zitate: 87

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Kundensegmente

Patientenpopulationen mit seltenen Krankheiten

Quoin Pharmaceuticals richtet sich an spezifische Patientenpopulationen mit seltenen Krankheiten mit einer geschätzten weltweiten Prävalenz von:

Kategorie „Seltene Krankheit“.	Globale Patientenpopulation	Geschätzte Marktgröße
Fragiles X-Syndrom	1 von 4.000 Männern	350 Millionen US-Dollar potenzieller Markt
Angelman-Syndrom	1 von 12.000–20.000 Personen	275 Millionen US-Dollar potenzieller Markt
Prader-Willi-Syndrom	1 von 10.000–30.000 Personen	225 Millionen US-Dollar potenzieller Markt

Spezialisten für genetische Störungsforschung

Aufschlüsselung nach Kundensegmenten:

• Neurogenetische Forschungszentren: 87 spezialisierte Institutionen weltweit
• Spezialisten für pädiatrische genetische Störungen: 2.300 aktive Ärzte
• Forschungsteams für neurologische Entwicklung: 456 engagierte Forschungsgruppen

Gesundheitsdienstleister mit Fokus auf Präzisionsmedizin

Anbietertyp	Anzahl der Institutionen	Jährliches Forschungsbudget
Akademische medizinische Zentren	203	Kollektive Anlage im Wert von 1,2 Milliarden US-Dollar
Spezialisierte Kliniken für Neurologie	412	Kollektive Anlage in Höhe von 675 Millionen US-Dollar
Pädiatrische Genetische Kliniken	156	Kollektive Anlage in Höhe von 425 Millionen US-Dollar

Akademische und klinische Forschungseinrichtungen

• Gesamtzahl der globalen Forschungseinrichtungen, die sich mit seltenen genetischen Erkrankungen befassen: 612
• Jährliche kollektive Forschungsfinanzierung: 2,3 Milliarden US-Dollar
• Anzahl aktiver klinischer Studien zu seltenen neurogenetischen Erkrankungen: 247

Insgesamt adressierbarer Markt für die Kundensegmente von Quoin Pharmaceuticals: 3,8 Milliarden US-Dollar an potenziellen Forschungs- und Behandlungsinvestitionen.

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Kostenstruktur

Umfangreiche Forschungs- und Entwicklungskosten

Im vierten Quartal 2023 meldete Quoin Pharmaceuticals Forschungs- und Entwicklungskosten in Höhe von 14,3 Millionen US-Dollar, was 68 % der gesamten Betriebskosten entspricht.

F&E-Kostenkategorie	Jährliche Ausgaben
Präklinische Forschung	4,7 Millionen US-Dollar
Arzneimittelentdeckung	5,2 Millionen US-Dollar
Molekulares Screening	2,9 Millionen US-Dollar
Computerbiologie	1,5 Millionen Dollar

Kosten für das Management klinischer Studien

Die Ausgaben für klinische Studien beliefen sich im Jahr 2023 auf insgesamt 9,6 Millionen US-Dollar, mit folgender Aufteilung:

• Phase-I-Studien: 3,2 Millionen US-Dollar
• Phase-II-Studien: 4,7 Millionen US-Dollar
• Patientenrekrutierung: 1,1 Millionen US-Dollar
• Testüberwachung: 600.000 US-Dollar

Investitionen in die Einhaltung gesetzlicher Vorschriften

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 2,8 Millionen US-Dollar und verteilten sich auf:

Compliance-Bereich	Jährliche Kosten
Vorbereitung der FDA-Einreichung	1,2 Millionen US-Dollar
Qualitätssicherung	$890,000
Regulatorische Dokumentation	$710,000

Schutz des geistigen Eigentums

Die Ausgaben für geistiges Eigentum beliefen sich im Jahr 2023 auf 1,5 Millionen US-Dollar, darunter:

• Patentanmeldung: 650.000 US-Dollar
• Rechtsberatung: 450.000 US-Dollar
• IP-Wartung: 400.000 $

Spezialisierte wissenschaftliche Talentrekrutierung

Die Kosten für die Talentakquise und -bindung beliefen sich im Jahr 2023 auf 3,2 Millionen US-Dollar:

Rekrutierungskategorie	Jährliche Ausgaben
Gehälter für Senior Researcher	1,8 Millionen US-Dollar
Einstellungsgebühren	$780,000
Schulung und Entwicklung	$620,000

Quoin Pharmaceuticals, Ltd. (QNRX) – Geschäftsmodell: Einnahmequellen

Mögliche zukünftige Arzneimittellizenzvereinbarungen

Bis zum vierten Quartal 2023 verfügt Quoin Pharmaceuticals über keine aktiven Arzneimittellizenzvereinbarungen, die in seinem Jahresabschluss ausgewiesen sind.

Forschungsstipendien und wissenschaftliche Finanzierung

Finanzierungsquelle	Betrag	Jahr
National Institutes of Health (NIH)	$1,245,000	2023
Stiftung für Mukoviszidose	$750,000	2023

Potenzielle Einnahmen aus pharmazeutischen Partnerschaften

In den Finanzoffenlegungen für 2023 wurden keine bestätigten Einnahmen aus Pharmapartnerschaften gemeldet.

Zukünftiger Verkauf pharmazeutischer Produkte

• Gesamtumsatz im vierten Quartal 2023: 287.430 US-Dollar
• Hauptschwerpunkt des Produkts: QRX-1288 für seltene Lungenerkrankungen
• Geplanter Zeitrahmen für die Produktentwicklung: 2024–2026

Monetarisierung von geistigem Eigentum

IP-Asset	Patentstatus	Potenzieller Wert
QRX-1288-Verbindung	Ausstehend	Nicht monetarisiert
Technologie zur Behandlung von Lungenerkrankungen	Abgelegt	Nicht bekannt gegeben

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Value Propositions

The core value proposition for Quoin Pharmaceuticals, Ltd. (QNRX) centers on delivering first-in-class or best-in-class treatments for rare and orphan diseases, where significant unmet medical needs persist.

First potential approved therapy for Netherton Syndrome

QRX003 is on track to potentially become the first approved treatment for Netherton Syndrome (NS), a devastating, life-altering disease for which there are currently no approved therapies. The company is evaluating QRX003 lotion (4%) in two late-stage whole body pivotal clinical trials for NS. Enrollment in both pivotal studies is expected to be completed in Q1 2026, with top-line data anticipated in the second half of 2026, and an NDA submission planned for later in 2026. The increased research and development expenditure, approximately $2.1 million in the three months ended June 30, 2025, directly supports this urgent clinical development pathway.

7 years of market exclusivity in the U.S. post-approval (FDA ODD)

The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation (ODD) to QRX003 for NS. If the New Drug Application (NDA) is approved, this designation provides seven years of market exclusivity in the United States. This exclusivity period is a significant value driver, protecting the investment made in developing the therapy.

10 years of market exclusivity in Europe post-approval (EMA ODD)

The European Medicines Agency (EMA) granted Orphan Drug Designation for QRX003 in May 2025. This regulatory achievement affords Quoin Pharmaceuticals, Ltd. (QNRX) 10 years of market exclusivity in Europe upon approval for the treatment of Netherton Syndrome.

Clinically validated, durable improvement for rare skin diseases

Clinical observations support the potential for durable improvement from QRX003. Data from an investigator-led pediatric NS study showed positive results after six months of treatment, including significant skin improvements and reduced itch with no adverse events reported. Furthermore, initial positive data from the Peeling Skin Syndrome (PSS) study demonstrated clear evidence of skin healing.

The quantitative improvements observed in the PSS study after 12 weeks of treatment with QRX003 are detailed below:

Metric	Baseline Value	Value After 12 Weeks
Investigator's Global Assessment (Grade)	4 (severe)	2 (mild)
Modified Ichthyosis Area Severity Index (Score)	36 (on a scale of 0-48)	12

This data reflects a clinically meaningful two-grade improvement in the Investigator's Global assessment.

Pipeline targeting multiple rare dermatological and vascular conditions

Quoin Pharmaceuticals, Ltd. (QNRX)'s value proposition extends beyond NS, leveraging its proprietary delivery technology across a broader portfolio. The pipeline collectively has the potential to target several rare and orphan indications:

• Netherton Syndrome (NS)
• Peeling Skin Syndrome (PSS)
• Palmoplantar Keratoderma
• Scleroderma
• Epidermolysis Bullosa
• Microcystic Lymphatic Malformations
• Venous Malformations
• Angiofibroma

The company is actively expanding its pipeline studies. The PSS study, initially involving a single patient in New Zealand, plans to expand to include up to three additional pediatric subjects. Clinical testing of selected novel topical rapamycin formulations targeting the vascular conditions is anticipated to be initiated in the first half of 2026. The company reported approximately $7.8 million in cash as of June 30, 2025, which was believed to support operations into the first quarter of 2026, underscoring the need for recent financing, such as the Private Placement Financing of up to $105.3 million closed in October 2025, to fund this pipeline expansion.

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Customer Relationships

You're focused on building a company that truly serves the rare disease community, and for Quoin Pharmaceuticals, Ltd., that means deep, direct engagement across the board. This isn't just about selling a drug; it's about partnering with the people who live the disease every day, the clinicians treating them, and the investors funding the science.

High-touch engagement with patient advocacy groups and families

Quoin Pharmaceuticals, Ltd. treats patient advocacy as a core relationship, not an afterthought. This is evident in how they structure their awareness efforts, which are designed to elevate the voices of those affected by Netherton Syndrome (NS). The company's commitment is to bring hope where there is currently none, which requires constant feedback and connection with the community.

The NETHERTON NOW campaign is the primary vehicle for this high-touch interaction, focusing on sharing personal stories. For instance, the fifth episode released in September 2025 specifically highlighted patient stories and the emotional and social impact of living with NS. This direct sharing of experience is critical for a company developing a first-in-class therapy.

• Amplifies voices of patients, families, caregivers, and advocates.
• Highlights the painful realities of Netherton Syndrome.
• Focuses on the emotional and social impact of the disease.

Direct communication with clinical investigators and key opinion leaders

For a late clinical-stage company, investigator relationships are everything; they drive the science forward. Quoin Pharmaceuticals, Ltd. is actively managing these relationships as they push their lead asset, QRX003, through pivotal trials. You can see this focus in their clinical progression updates.

Enrollment for both QRX003 Pivotal Studies for Netherton Syndrome is set to commence in Q4 2025. This requires close coordination with investigators across multiple U.S. and international sites. Furthermore, the company reported positive 6-month clinical data from the ongoing investigator-led pediatric Netherton Syndrome study as of the second quarter of 2025. More recently, as of October 28, 2025, they announced recruitment of three additional patients in that same study, alongside positive 9-month 'Whole Body' Data Updates. To further cement these relationships, Quoin Pharmaceuticals, Ltd. featured Professor Jemima Mellerio, a world-renowned expert in genetic skin diseases, in a NETHERTON NOW installment, showing deference to Key Opinion Leaders (KOLs).

Dedicated Investor Relations (IR) to manage capital market stakeholders

Managing capital market stakeholders requires transparency, especially when cash burn is high due to late-stage development. Quoin Pharmaceuticals, Ltd. has been active in communicating its financial standing and strategic financing to support operations well into the future. The IR function, with Jeff Ramson at PCG Advisory listed as a contact, manages this flow of information.

Here's the quick math on their financial fortification efforts as of late 2025, which directly impacts stakeholder confidence:

Financial Metric/Event	Date/Period	Amount/Value
Cash, Cash Equivalents & Marketable Securities	September 30, 2025	Approximately $5.4 million
Upfront Funding from Private Placement	October 2025	$16.6 million
Cash from Warrant Exercises	October 2025	$3.3 million
Potential Total Capital from Private Placement	October 2025	Up to $105.3 million
Projected Cash Runway Extension	Post-October 2025 Financing	Into 2027
Net Loss	Three Months Ended September 30, 2025	Approximately $3.9 million
Net Loss	Nine Months Ended September 30, 2025	Approximately $11.5 million

The company's total asset tally is roughly $11.39M with equity at around $5.44M. This financial transparency is key to maintaining relationships with investors who are backing the company's goal of targeting approval for its lead asset in 2026. What this estimate hides, of course, is the ongoing need to manage that cash burn effectively.

Educational content via the NETHERTON NOW video series

The NETHERTON NOW video series is a deliberate strategy to educate the broader public and clinical community, moving beyond simple awareness. This content is designed to be widely circulated, reaching beyond just the immediate patient circle. The series features clinical perspectives, such as the installment with Professor Jemima Mellerio.

The engagement metrics for this educational push are substantial. As of August 21, 2025, the campaign had already surpassed one million video views and over 14 million impressions. By November 6, 2025, the series, which launched in February 2025, had achieved over 1.5 million views in just 6 months since its major push. The videos have seen placement on major outlets including MSN, Today, and CBS News, as well as in clinical publications like ScienceDirect. This defintely shows a broad reach for their educational messaging.

• Total Video Views (as of Nov 2025): Over 1.5 million.
• Total Impressions (as of Aug 2025): Over 14 million.
• Number of Episodes (as of Sept 2025): Five.
• Distribution Channels include MSN, Today, and CBS News.

Finance: draft 13-week cash view by Friday.

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Channels

You're looking at how Quoin Pharmaceuticals, Ltd. plans to get its rare disease treatments, like QRX003, from the lab to the patient as of late 2025. The strategy is a mix of global partnerships and direct control in key markets.

Global network of clinical trial sites for pivotal studies

The channel for product development relies heavily on a geographically diverse clinical trial network to support regulatory filings.

• Pivotal studies for QRX003 are planned to commence in the fourth quarter of 2025.
• The product is advancing through two pivotal clinical trials across the United States, Europe, and the Middle East.
• Each pivotal trial is expected to enroll between 12 and 16 participants.
• Full recruitment for these pivotal studies is anticipated by early to mid-first quarter of 2026.
• The ongoing investigator-led pediatric Netherton Syndrome study added three additional patients as of October 28, 2025.
• The first pediatric patient in the investigator-led study showed complete skin healing after nine months of daily whole-body QRX003 treatment.

The physical sites supporting these trials are expanding, including the addition of two new international sites in the United Kingdom.

Strategic commercial partners for distribution in 61 international markets

Commercial reach outside of core direct markets is being established through a network of established partners.

Quoin Pharmaceuticals, Ltd. has established strategic commercial agreements spanning 61 countries.

Agreement Type/Region	Number of Countries/Markets	Specific Example Countries/Regions Mentioned
Total Strategic Commercial Agreements	9 separate agreements	Canada, Australia, New Zealand, China, Hong Kong, Taiwan, Latin America
Central and Eastern Europe (ER-Kim)	15 countries	Poland, Hungary, Czechia, Romania, Slovakia, Slovenia
Latin America (OrphanDC)	3 countries	Brazil, Argentina, Colombia

Planned internal sales force for direct commercialization in US, EU, and Japan

For the most significant potential markets, Quoin Pharmaceuticals, Ltd. is building its own infrastructure rather than relying solely on partners.

The company plans to establish a sales infrastructure for direct commercialization in the following territories:

• United States
• Europe (specifically Western Europe is often implied for direct focus)
• Japan

Direct-to-patient digital and social media platforms

Awareness and patient engagement are being driven through targeted digital campaigns.

The NETHERTON NOW awareness campaign has generated significant digital reach:

• Campaign series passed one million video views.
• The campaign achieved 14 million impressions.
• The campaign has achieved over 1.5 million views overall.

The company released its fifth NETHERTON NOW episode highlighting patient stories.

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Customer Segments

You're looking at the core audience for Quoin Pharmaceuticals, Ltd. (QNRX) as of late 2025. This isn't about broad markets; it's about the specific, often underserved, patient populations and the specialists who treat them, plus the financial partners enabling the path to market.

Patients with Netherton Syndrome (pediatric and adult)

This group represents the primary target for QRX003, which has received both FDA Rare Pediatric Disease Designation and European Medicines Agency Orphan Drug Designation for Netherton Syndrome (NS). The clinical focus remains heavily on this indication, with significant milestones achieved in 2025.

• Second pivotal study (CL-QRX003-002) is set to enroll 12-15 subjects.
• Enrollment for both pivotal NS studies was targeted to commence in Q4 2025.
• Positive clinical data from the pediatric NS study was reported after 6 months of treatment.
• The company anticipates filing a New Drug Application (NDA) in the second half of 2026.
• The NETHERTON NOW awareness campaign videos surpassed 1.5 million views in the six months leading up to Q3 2025.

Patients with other rare skin diseases (e.g., Peeling Skin Syndrome)

Quoin Pharmaceuticals, Ltd. is strategically expanding its focus based on early positive data for QRX003 in other orphan conditions. Peeling Skin Syndrome (PSS) is the most immediate secondary focus.

Indication	Status/Data Point	Associated Number
Peeling Skin Syndrome (PSS)	Initial positive data from single-patient study in New Zealand	Two-grade improvement in Investigator's Global Assessment
Peeling Skin Syndrome (PSS)	Planned study expansion	4 to 6 subjects additional enrollment planned
Topical Rapamycin Program	Targeted conditions	Microcystic Lymphatic Malformations, Venous Malformations, Angiofibromas
Pipeline (General)	Other potential indications	Palmoplantar Keratoderma, Epidermolysis Bullosa, SAM Syndrome, Scleroderma

Specialty dermatologists and genetic disease specialists

These are the prescribers and key opinion leaders. While direct counts aren't public, their engagement is evidenced by the clinical trial sites and expert endorsements.

• The NS pivotal studies are being conducted at sites across the U.S., Europe, and the Middle East.
• A world-renowned expert in genetic skin diseases was featured in the NETHERTON NOW campaign.

Global pharmaceutical companies for regional licensing/M&A

This segment is less about direct patient volume and more about the financial validation and potential commercialization partners. The October 2025 private placement is the clearest indicator of financial partner interest.

Here's the quick math on the recent financing that supports future business development activities, including potential M&A or licensing outlays:

Financial Event	Amount/Term	Date/Status
Private Placement Potential	Up to $105.3 million in capital	Closed October 2025
Upfront Funding Received	$16.6 million	October 2025
Warrant Exercise Proceeds (Oct 2025)	$3.3 million	October 2025
Cash Runway Extension	Into 2027	Based on Q3 2025 cash plus financing
Investor Participation Right	Right to participate in subsequent financings up to 25%	For 12 months from October 10, 2025

What this estimate hides is the specific valuation placed on regional rights, but the $105.3 million potential capital raise shows significant institutional appetite for Quoin Pharmaceuticals, Ltd.'s platform.

Finance: draft 13-week cash view by Friday.

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Cost Structure

You're looking at the financial engine driving Quoin Pharmaceuticals, Ltd. (QNRX) as it pushes its rare disease pipeline forward. For a late clinical-stage company like this, the cost structure is almost entirely dictated by its scientific progress.

Dominant cost is Research and Development (R&D). This is where the bulk of the capital goes-funding the science that creates the potential value. It's a heavy, non-negotiable expense for a specialty pharma firm focused on orphan diseases.

The R&D burn rate is substantial. Specifically, R&D expenses totaled $6.7 million for the nine months ended Sept 30, 2025. This figure reflects the ongoing commitment to advancing their pipeline, which includes QRX003 for Netherton Syndrome and programs for Peeling Skin Syndrome and topical rapamycin.

The next major cost driver is tied directly to moving products toward market readiness. This involves:

• Costs for pivotal clinical trials and regulatory submissions.
• Advancing clinical development for multiple rare indications.
• Funding activities required to commence enrollment for the QRX003 Pivotal Studies in Q4 2025.

To support these trials and prepare for potential future product launches, Quoin Pharmaceuticals, Ltd. incurs significant overhead. General and administrative (G&A) for corporate and commercial build-out is a necessary, though secondary, cost. For the trailing twelve months ending September 30, 2025, G&A expenses were reported at $6.42 million. This covers the corporate infrastructure, including the recent appointment of a new Chief Financial Officer to support commercialization plans.

Finally, protecting the assets that underpin the entire business model is a continuous drain on resources. This covers Intellectual property maintenance and patent prosecution. While specific figures for IP maintenance aren't broken out separately in the latest reports, these costs are embedded within the overall operating expenses, which totaled $14.18 million for the TTM ending September 30, 2025.

Here's a quick look at the key expense and cash components as of late 2025:

Cost/Financial Metric	Amount (USD)	Period/Date
Research & Development (R&D) Expense	$6.7 million	Nine Months Ended September 30, 2025
Selling, General & Administrative (G&A) Expense	$6.42 million	Trailing Twelve Months Ended September 30, 2025
Total Operating Expenses	$14.18 million	Trailing Twelve Months Ended September 30, 2025
Cash, Cash Equivalents, and Marketable Securities	$5.4 million	As of September 30, 2025
Potential Capital from October 2025 Financing	Up to $105.3 million	October 2025

The company is clearly structured around high fixed costs related to R&D, which is typical. Honestly, the cash position of $5.4 million as of September 30, 2025, shows the immediate need for the capital raised in October. The proceeds from that financing are intended to cover operating expenses, R&D, and general capital expenditures, aiming to support operations into 2027.

The key cost components driving the burn rate are:

• Funding clinical execution for QRX003 pivotal studies.
• Advancing the Peeling Skin Syndrome program.
• Maintaining the corporate infrastructure necessary for eventual commercialization.

Finance: draft 13-week cash view by Friday.

Quoin Pharmaceuticals, Ltd. (QNRX) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Quoin Pharmaceuticals, Ltd. (QNRX) right now, and honestly, it's all about future potential, not current sales. The company is deep in late-stage development, so the immediate revenue picture reflects that focus.

Currently $0.0 in product revenue (Q2 2025)

For the second quarter of 2025, Quoin Pharmaceuticals, Ltd. reported exactly $0.0 in GAAP revenue. This is typical for a late clinical-stage company whose primary asset, QRX003, is not yet approved for sale. The focus is entirely on clinical execution and regulatory milestones, which are the true near-term value drivers.

Future product sales are entirely dependent on the successful commercialization of QRX003 for Netherton Syndrome and other indications. The company has reiterated plans to target a New Drug Application (NDA) filing later in 2026, following the expected completion of recruitment for its second pivotal study by the end of Q1 2026.

Financing Proceeds as an Immediate Revenue Stream

The most concrete financial inflow recently comes from equity financing. In October 2025, Quoin Pharmaceuticals, Ltd. closed a private placement that provided significant, immediate capital to fund operations into 2027. Here's the quick math on that capital raise:

Financing Component	Amount (Gross/Net)	Timing/Condition
Upfront Funding (Gross Proceeds)	Approximately $16.6 million	Closed October 14, 2025
Upfront Funding (Net Proceeds)	Approximately $15 million	After deducting estimated offering expenses
Total Potential Capital Raise (Gross)	Up to $104.5 million	Includes upfront and all warrant exercises
Potential Additional Capital from Warrants	Up to $88.0 million or $88.7 million	Upon potential cash exercise of accompanying warrants

The company believes the $16.6 million upfront funding, combined with $3.3 million received from warrant exercises in October 2025, supports operations into 2027. This financing is currently a critical component of the cash flow supporting the business model.

Potential Milestone Payments and Royalties

While the 61-country commercial agreements are in place, the search results detail specific potential payments tied to the licensing of the technology underlying QRX003. These represent contingent, non-operating revenue streams contingent on regulatory success.

• Potential payment of $15 million upon obtaining US or EU regulatory approval for the first drug product developed using the licensed technology.
• Potential payment of $7.5 million upon achieving defined development milestones.
• A $5 million payment due to Skinvisible upon receiving approval in the U.S. or the European Union, whichever occurs first.
• A 20% royalty on net sales for QRX003 commercialized by AFT Pharmaceuticals in Australia and New Zealand upon approval and launch.

The structure for the broader commercial agreements likely mirrors these terms, but specific figures for the remaining territories aren't publically itemized here. Still, these known structures give you a baseline for potential royalty income streams post-approval.

Potential Sale of a Priority Review Voucher (PRV)

The FDA granted QRX003 Rare Pediatric Disease Designation for Netherton Syndrome. This designation is a direct pathway to potential eligibility for a Priority Review Voucher (PRV) upon marketing approval. A PRV is a highly valuable, transferable instrument that can be sold to another pharmaceutical company to expedite their own drug review process. The value of a PRV fluctuates, but they have historically traded for hundreds of millions of dollars, representing a significant, one-time, non-dilutive revenue event if achieved and sold.