Quoin Pharmaceuticals, Ltd. Q4 FY2022 earnings call

• Capital Raise: Completed public offerings in August and February 2022, net proceeds ~$6M, strong cash position extends into second half of 2024.
• IND Submission: Submitted IND for QRX003 for Netherton Syndrome, initiated 2 clinical studies, advanced CMC for QRX003.
• Commercialization: Intend to self-commercialize in US and Europe, have 8 distribution partnerships covering 60 countries.
• Clinical Trials: Fourth quarter had first patient dosed in vehicle control study, 5 of 6 clinical sites open; second clinical study (open-label) initiated, ongoing data access.
• QUT Research: Projects at QUT making progress, potential clinical testing by end of 2023.

There are no distinct product segments with detailed financial performance and revenue contribution percentages provided in the transcript. However, research and development expenses for the fourth quarter were $600,000 and $2.7 million for the year, primarily related to Netherton Syndrome clinical trials and QUT research. General and administrative expenses were $1.5 million in the fourth quarter and $6.6 million for the year, with net loss of $2 million in the fourth quarter and $9.4 million for the year.

• Cash: Sufficient to fund operations well into second half of 2024.
• R&D: Expect R&D costs to increase in 2023 as programs advance.
• Clinical Data: Anticipate presenting data from ongoing trials in 2023.
• M&A: Actively exploring derisk late-stage assets in rare/orphan disease space.

• Forward-looking statements involve risks and uncertainties, detailed in SEC filings.

Q: James Molloy asked about Phase III trial timing and PRV program.

A: Michael Myers responded that the trial is recruiting as expected with data anticipated in 2023 and that the PRV program is likely to be renewed.

Q: Aydin Huseynov asked about study pace, patient segments in open-label trial, M&A targets, and SG&A breakdown.

A: Michael Myers discussed open-label trial likely recruiting faster, ~15%-20% of Netherton patients on off-label biologics; Gordon Dunn explained G&A breakdown includes employee compensation and legal/accounting costs for public company.