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Henry Khederian

Quoin Pharmaceuticals (QNRX) Stock Is Skyrocketing Friday: What's Going On?

Quoin Pharmaceuticals

Binary,Options,Chart

Quoin Pharmaceuticals Ltd – ADR (NASDAQ:QNRX) shares are trading higher Friday morning after the company announced a private placement financing of up to $104.5 million. The deal with new and existing institutional investors includes an initial upfront funding of $16.8 million.

What To Know: The clinical-stage specialty pharmaceutical company, which focuses on rare and orphan diseases, will issue a combination of American Depositary Shares and pre-funded warrants. The financing also includes four series of warrants, which, if exercised, would bring the total proceeds to the $104.5 million mark.

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