Quoin Pharmaceuticals is a clinical-stage specialty pharma company focused on developing treatments for rare and orphan skin diseases with no currently approved therapies. Quoin has no revenue and is entirely funded through capital raises. Its lead asset, QRX003, is a topical lotion in late-stage development for Netherton Syndrome (NS), a rare hereditary disease affecting an estimated 6,000–8,000 patients in the U.S. and Europe. NS disrupts skin barrier function, causing uncontrolled skin shedding, severe infections, and chronic itch. QRX003 is designed to restore normal skin barrier function by mimicking the missing protein that regulates skin enzyme activity. The FDA has granted QRX003 Fast Track, Orphan Drug, and Rare Pediatric Disease Designations, and has indicated a single Phase 3 study may be sufficient for U.S. marketing approval. If approved, the Rare Pediatric Disease Designation makes QRX003 eligible for a Priority Review Voucher, which Quoin could sell — PRVs have historically fetched $100M or more. Quoin plans to self-commercialize in the U.S., Western Europe, and Japan using a small salesforce, and has nine regional partners covering 61 additional countries. Because NS requires indefinite daily treatment, the commercial model is built around chronic recurring use. Quoin is also pursuing label expansion into Peeling Skin Syndrome, ichthyosis disorders, and SAM Syndrome using the same infrastructure, and has two earlier-stage pipeline assets: QRX008 for scleroderma and QRX009, a topical rapamycin formulation targeting vascular malformations and angiofibromas.