Quoin seeks Saudi breakthrough status for Netherton therapy

The latest update is out from Quoin Pharmaceuticals ( (QNRX) ).

On January 20, 2026, Quoin Pharmaceuticals announced that it had filed an application with the Saudi Food and Drug Authority for Breakthrough Medicine Designation for QRX003, its lead late-stage topical candidate for Netherton Syndrome, a rare and life-threatening skin disorder. The company believes QRX003 satisfies the SFDA’s criteria for therapies addressing serious conditions with high unmet medical need, and is running two late-stage pivotal whole-body clinical trials in Netherton patients, with enrollment expected to complete in the first half of 2026 and top-line data anticipated in the second half of 2026. If the designation is granted, QRX003 would benefit from an accelerated review process in Saudi Arabia, potentially supporting earlier patient access and positioning the drug to become the first approved treatment for Netherton Syndrome globally, while also underpinning Quoin’s broader regulatory plans for New Drug Application filings in the United States and other territories. As of January 20, 2026, the company reported 1,616,179 American Depositary Shares outstanding, underscoring the relatively small equity base backing its rare-disease development strategy.

The most recent analyst rating on (QNRX) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on Quoin Pharmaceuticals stock, see the QNRX Stock Forecast page.

Spark’s Take on QNRX Stock

According to Spark, TipRanks’ AI Analyst, QNRX is a Neutral.

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and heavy cash burn with reduced balance-sheet flexibility). Offsetting factors include constructive corporate developments (orphan designation and significant financing runway) and a technically improved longer-term trend, while valuation remains constrained by negative earnings.

To see Spark’s full report on QNRX stock, click here.

More about Quoin Pharmaceuticals

Quoin Pharmaceuticals Ltd. is a late clinical-stage specialty pharmaceutical company focused on developing and commercializing therapeutic products for rare and orphan diseases. Its pipeline includes three products in development targeting a range of severe dermatological and genetic conditions, including Netherton Syndrome, Peeling Skin Syndrome, SAM Syndrome, Palmoplantar Keratoderma, Scleroderma, Microcystic Lymphatic Malformations, Venous Malformations and Angiofibroma, with a commercial strategy that includes regional distribution partnerships such as its agreement with Genpharm in the MENA region.

Average Trading Volume: 383,410

Technical Sentiment Signal: Sell

Current Market Cap: $6.04M

For an in-depth examination of QNRX stock, go to TipRanks’ Overview page.