QNRX - Quoin soars on FDA clearance to start testing of its QRX003 lotion for rare skin disorder

American depositary shares of Quoin Pharmaceuticals (NASDAQ:QNRX) have added 45.7% in premarket trading on Monday after the U.S. Food and Drug Administration cleared the company's new drug application for its investigational lotion QRX003 to treat skin disorder Netherton Syndrome. The company expects to initiate clinical testing in patients with Netherton Syndrome (NS) in H1 this year. QNRX's QRX003 lotion contains a protease inhibitor that intends to perform the function of a specific protein called LEKTI. The absence of LEKTI in NS patients leads to excessive skin shedding. Daily application of QRX003 is designed to lead to a more normalized skin shedding process. Up to Friday's close, QNRX stock -42.3% YTD

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Quoin soars on FDA clearance to start testing of its QRX003 lotion for rare skin disorder