Quoin Pharmaceuticals Secures Up to $50M in Financing; Shares Rise
Quoin Pharmaceuticals (QNRX) has secured up to approximately $50 million in gross proceeds through a securities purchase agreement with healthcare-focused institutional investors. The financing includes participation from several notable firms, including Sirenia Capital Management LP and AIGH Capital Management. The company's shares surged 38% premarket following the announcement of the funding round, which is expected to support its pipeline for rare disease treatments. This development signals strong investor confidence in Quoin Pharmaceuticals' strategic direction and therapeutic focus.
Tickers: $QNRX
Topics: financing round securities purchase agreement stock price movement