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Quoin Pharmaceuticals stock soars after securing premium-priced funding By Investing.com
Quoin Pharmaceuticals Ltd. stock skyrocketed 138% after announcing a premium-priced private placement with institutional investors, potentially raising up to $104.5 million for health care advancements.
- Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) experienced a dramatic 138% stock increase following a private placement agreement with institutional investors, potentially valued at $104.5 million.
- The funding is intended to support the development of Quoins medication targeting rare diseases, enhancing its position in the competitive pharmaceutical industry.
- This private placement involves American depositary receipts, allowing investors to hold securities that represent shares of Quoin, which operates primarily in the United States healthcare market.
Why It Matters
The surge in Quoin Pharmaceuticals stock highlights investor confidence in innovative health care solutions, particularly in the rare disease sector, and underscores the growing importance of funding in the pharmaceutical industry.