Quoin Pharmaceuticals COO Denise Carter buys $99,991 in ADSs
Quoin Pharmaceuticals COO Denise Carter recently expanded her stake in the company by purchasing 20,490 American Depositary Shares (ADSs) at $4.88 each, totaling a $99,991 investment. The purchase came shortly after the stock price surged to $6.51, marking a 33% gain from her acquisition price. In tandem with the ADSs, Ms. Carter also bought 10,245 ordinary warrants, each carrying 50% coverage and an exercise price of $6.10.
These warrants enable holders to acquire ADSs at the exercise price and carry an immediate exercise date contingent on meeting clinical trial milestones for Netherton Syndrome treatment. Ms. Carter now holds a total of 37,709 ADSs and 10,245 warrants. Quoin Pharmaceuticals is making waves in the rare disease sector, having recently established a Japan-based subsidiary to potentially commercialize QRX003 for Netherton Syndrome, and submitted an IND application to the FDA for QRX003, targeting Peeling Skin Syndrome, marking the first IND for this rare skin disorder.
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