Quoin Pharmaceuticals CEO Michael Myers buys $99,991 ADSs By Investing.com

Michael Myers, Chief Executive Officer and a Director of Quoin Pharmaceuticals, Ltd. (), recently acquired 20,490 American Depositary Shares (ADSs) for a total value of $99,991. The shares were purchased at a price of $4.88 per ADS on August 31, 2026. The stock has since risen to $6.51, representing a 26% gain from Myers’ purchase price.

This acquisition was made as part of the issuer’s private placement. Following this transaction, Mr. Myers directly holds 37,713 ADSs. Each ADS represents thirty-five ordinary shares of Quoin Pharmaceuticals, Ltd. According to InvestingPro analysis, the stock currently appears overvalued, with 11 additional ProTips available to subscribers analyzing the company’s financial health and prospects.

In the same private placement, Mr. Myers also acquired 10,245 ordinary warrants. These warrants, which were part of the combined purchase price of $4.88 for the ADSs and warrants, have an exercise price of $6.1 and allow the holder to purchase 10,245 ADSs. The warrants became exercisable immediately upon issuance, subject to a beneficial ownership cap, and are set to expire on the earlier of five years from the date of issuance or 30 days after the company’s public announcement that the primary endpoint has been met in its clinical trial CL-QRX003-004 for the treatment of Netherton Syndrome.

In other recent news, Quoin Pharmaceuticals has established a wholly-owned subsidiary in Japan to support the potential commercialization of QRX003 for the treatment of Netherton Syndrome. This move follows the recent grant of Orphan Drug Designation for QRX003 by Japan’s Ministry of Health, Labour and Welfare. The new subsidiary is expected to facilitate engagement with Japanese regulators, clinicians, and patient advocacy organizations. Additionally, Quoin Pharmaceuticals has submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration for QRX003 to treat Peeling Skin Syndrome. This submission marks the first IND application for this rare skin disorder, which currently has no approved treatment. The company plans to begin a Phase 2 clinical study in the second half of 2026, pending FDA review. These developments indicate Quoin Pharmaceuticals’ strategic efforts to advance its treatment pipeline for rare diseases.

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