Quoin Pharmaceuticals (QNRX) 3 Aug 232023 Q2 Earnings call transcript

Good morning. Welcome to Quoin Pharmaceuticals, Ltd.

Second Quarter Fiscal Results and Business Update Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note that this event is being recorded today.

to conference like Dunn, to now CFO. would turn over the Gordon I go Please ahead.

good appreciate morning. on And you. Thank We call. today's you conference us joining

now With as update Please operational of Myers, on progress for financial Dr. available COO. call results. quarter note pleased discussing our me and of our second press Denise XXXX XXXX, We're an our and release as website. financial Carter, Michael provide to the on the well that is CEO, Quoin's results are QX

with our a Michael our to hand keeping I update, normal In then Michael procedure, back review will corporate, following for to closing provide QX will operational I'll call begin, financial comments. results. clinical and the which

the the We end of will pleased questions also be call. to answer at any

everyone of the the meaning risks which statements. will expressed forward-looking made to begin, this during we the these from Act call of and or within to that like cause I'd information implied Reform include XXXX, Before statements by Litigation actual that statements results forward-looking can differ involve materially uncertainties Securities remind Private conference

more the For the filings risks regarding see uncertainties, SEC. company's with outlined factors information the risk please such in and

made release obligation issued only law. this morning statements press statements today, forward-looking more disclaim the of forward-looking any see Please Any are than as we our in to results financial and forward-looking these by update as other required statements information. section for

over turn call to my to CEO, is It pleasure the Michael our now Myers.

very announce this everyone. and the very strong second had Thank into Today, to has On through last on pleased that quarter. And reported start you, our to Gordon. carried the good I'm call, momentum morning, Quoin I XXXX.

trial XX% we Netherton Syndrome XX, and subjects enrolled since had open label additional May announced our been have On achieved then. recruitment that clinical

dosed we of only subject with March this in of very that this first are pace recruitment year, may recall overall. so in study we pleased the You the

to majority a have the it be participation month. is studies. of clinical how for And on Syndrome continues recruited Netherton track is study other both extremely level subjects in Our high to encouraging this interest

We clinical the the will study, from data announced on in later patient open I label our provide today the to more this availability call. complete commentary of and first

quarter, in Syndrome as being is enhance in the study initiate and that Middle East, pediatric studies, these in our We clinical package a including our made the on the cohort plans ex-US well subjects. generated believe XX in during to substantial additional Also Netherton progress clinical currently additional trials will we preidentified of the approximately Netherton patients as data US. studies here by an ongoing one supplement

As for approval in body effective to for we a company QRXXXX to compelling of committed a evidence Syndrome. Netherton are safe support leading clinical treatment as generating fully global a space, this and regulatory

and of features we action engage The research quarter, this QUT, also ongoing During of has has mechanism program Scleroderma University the different Syndrome. Queensland ingredient latter actively Netherton one believe QRXXXX, or continued programs with QRXXXX. QUT, with a our we Quoin Technology, and in Australia. other to to the for potentially two own the in complementary active product for has to

of their As advancement continue we previously we they clinical to development, believe programs of stage early and are important of are forward to outlined, still look at while an both components that product these into our testing. portfolio,

advantage is from here testing Australia a into rebate than more XX.X% in where of conducted to the tax or well is clinical being are programs take rapid human a possible government, as as Australian the Quoin US in in able advancement research Europe. Both

on of beyond Syndrome, to QRXXXX updates Peeling treatments approved These any quarter, provide testing of further the near progress initiation patients. and SAM our of none of Keratoderma, are clinical initiate in additional of clinical Also, including there in tangible proof which indications made Skin Palmoplantar on We concept in Syndrome, indications progress plans for. during the Syndrome. timing we future, Netherton testing to our into hope

During our strategy. our I updated also M&A everyone last on call,

our to sheet on access additional or and given are potential portfolio acutely means. acquisition, focused balance we strong discussed, capital, product via other the expanding As licensing, our

We stage on interested favorable by orphan readily and late strength. that competitive clinical in identifiable data disease strong opportunities are rare the assets are based space primarily in highly and underpinned commercial

the during one this of year. that such guarantees discussions the We time the quarter, can very to transaction of that Quoin advance updated be by to continued least on will be forward significantly you for we can I exciting a you no and are into that transaction look there end While keeping enter will at a progress consummated, tell our throughout number Quoin. optimistic

Netherton Also, with last that FDA potential may clinical on to call, another our company had initiate an the filed I a Syndrome. of noted letter for received the and proceed IND product a their as treatment study development

website, morning, investigational clinical of appears that Netherton IND. or not Syndrome clinicaltrials.gov the application, yet Quoin new As in initiated to company drug studies an review has actively it a be study of under conducting following the pharmaceutical been remains this and this only open

first our global by treatment for represents. the regulatory disease approval that commercial ace be continue opportunity and extent obtaining commercial We excited partners this for the to of the a

data you study. complete privilege in have of label the now able our of the be Netherton measured open first tell to across clinical in the patients. this I'm is testing data to clinical very pleased Syndrome availability studies our to subject Today, from that all Turning we positive announcing ongoing to endpoints.

currently treated least noting to systemic so in for with the all label for in with You subjects worth cases, systemic QRXXXX conjunction study, label for been in and, off of will this It do have study duration are may that study. number of off receiving continue in a is multiple that, year treatment at years. label and open recall this therapy one subjects

or the including study clear demonstrated itch. of recruited Notwithstanding patients Syndrome, Netherton into pruritus this long skin systemic term all and therapy ongoing, symptoms treatment, compromised

long over XX improvement of study therapy, into to the weeks systemic treatments clinical of across us would recruited a subjects lead a a duration this term As of any number baseline a therapeutic to natural provided with assessed endpoints. for assess if result QRXXXX

And the in long completed subject this the first systemic Despite of testing Netherton study. exhibited therapy, who was the symptoms on classic into subject so term for study. the it Syndrome entry

this clear, However, as visual as say, pleased a to fully scoring investigator on for by to by study deemed clinical of I'm very completion well the well-recognized area be QRXXXX the was system. treatment both subject,

subject number Furthermore, a expressed metrics. a of across important QRXXXX also of the favorable very impression

study, area for was Bear the treatment deemed mind, to also, subject's the reasons completion Importantly on be one pruritus. negligible. of from to at this with on or relief the their people systemic in primary is symptomatic pruritus Syndrome of therapies go Netherton itch QRXXXX for

that For of despite after subject, QRXXXX treatment only with on decreased XX negligible was pruritus this having to systemic been therapy particular it a level. weeks well had year, for a their over

Although be this read data is to in it this evidence represents care much Quoin patient an single Netherton of and that first taken the only, data. strongly caution it a for Syndrome, efficacy important too into potential not is QRXXXX as the of to I should from milestone clinical do want

in additional in plan patients the to updates course. other due study provide the As point, same reach we

subjects double-blinded month. majority mentioned our recruited on this earlier, track ongoing is to now As study of have a

the is tell and the are cannibalizing subjects if at independently frequently open own allows can such to and patients case I regimen. double-blinded of clinical this the of their studies is study availability feedback flexibility to that from community study label treatment We all. suited a ongoing two the is are Netherton study, each other trial distinct is from you the options Both that enroll recruiting in the asked not best

all tested, safety highlight date profile. QRXXXX is and that studies across I want subjects exemplary demonstrating both also to to in an

the further Given is encouraging confidence patients first compromised potential to highly our skin this effectively the become the have, Netherton product treat that to for and QRXXXX and very bolsters news safely disease. in this

that progress, results. second to operational our now quarter discuss over With turn on update it to let Gordon financial me our

Thank you, Michael.

March June million was which as into of XX, will operations to we our marketable As fund cash of $XX million our sufficient continue $XX.X expect to late approximately securities be and to XX, compared XXXX.

$X.X $X.X second and The professional due XXXX. of to fees second quarter XXXX. legal high quarter was the in loss exceptionally for Our primarily to compared quarter for the net the was of decrease million million second

to call to some the and Q&A. turn Michael? Michael back remarks our make I'll begin closing

Thanks, Gordon. Today everywhere. marks hope Quoin and we an for important patients for milestone Syndrome Netherton

QRXXXX announce We the are in Netherton very clinical extremely results for data patients. excited to first the of

of caution, just a from As subject point, be data and only may not additional do I is findings the this emphasize strongly from outlined, to and want single subjects. representative we

data our of across data endpoints look the releasing subjects, With forward nature due clinical said, both recruit studies encouraging. positive the being is course. that in continuing However, to additional all we certainly measured to of

on We executing remain least one diligently pursuing focused transaction a targeting activities are M&A such by and year-end.

operator, that, are we questions. now ready for With

[Operator Instructions].

first Naz with comes Group. Maxim question The Rahman from

endpoints or, I progress. results the on, the the onset, Or little time different start I early benefits little the guess Or Congratulations timing improvements reach, a data of see most the want can the or towards did the at data Did cadence guess, on I'm different [indiscernible] did positive points? just the different the about benefits? sort I in from saw different of the trial? you end timing did talk going and the patient. or the single consistent a like, for the you endpoints of different the more of of the to more the trial? on and the more see to talk guess, benefits I you of endpoints you benefits about positive

for of in started the half really evident benefit study. second subject The this the particular become to

dosing XX-week as you period. it's know, So, a

So it from weeks six really on. was

Now, patient every we're week. the not assessing

timing endpoints. of it was all the across hard when, it's but onset certainly exactly of consistent pinpoint was So the of And the second of the in to study. half benefit

of benefit So, in, it each being to started became once kick evident the measured. across endpoints four that were the

that since I the durability? so and first of patient a know evaluated seen been But found any you symptoms? Or the have patient off guys recurrence it's long has has patient. therapy, conduct, you like, since only been follow-up you do

don't study just for enrolled information XX is and study they're the was in gone. Naz. have, the I That's the The patient was that way then weeks setup

there So isn't follow-up. really

further patients of looking the with part treat continue don't in as patient to situation to if study. an can Now we is. are to But the label information that have current any open I extended we what see

QRXXXX, tell will product, the a though, you, inhibitor. competitive I serine protease that is

Once So out once back of of patients you that suffer the treatment, control. that – targets responsible for discontinue go issues discontinue treatment being with skin from. to the the are it kallikreins those in it, you a then lot kallikreins

Netherton Syndrome strongly on patient So that have suspect I reversed would they to areas previous had symptoms study. treatment the the of that the into now back entry the

have is thinking somewhat that last how again, a of just a single Once somewhat or later impacted My data these on question you patient, your might two-parter. define from acknowledging this findings have adjust studies? is

And areas for a application like considering since full larger application is later studies? potentially are having Netherton more also, you Syndrome body or really disease,

These any precedent. we are we before. had neither really good uncharted questions. territory. And, the complete And went into been there this, had us Nobody nor look, ever started FDA

is to now generated. data thinking our be as So starting starts evolve to

First not and safety signal. importantly, all, of any seeing we're

that's So, good news. really

allows maybe look dose dose, a to increase we we us So think, should day. twice should that holistically, the to

that now play. feel like discussions are these So come into these because options we having we're

in the about. considering body deviate will these I frequency, with agreed other the surface particular don't feel that that regards there's increase what Netherton been have for to far talking a for from Middle the are for I to FDA approval, East too that area something certainly the either with increase tested. on the that That's full US increase And study we're lot is that's but dosing, more mentioned studies, preidentified study. we potential dose, something patients. like scope and we we

looking on your again, the and readouts. to Once future data congratulations forward

Instructions]. [Operator Partners. from is And the Global Jim Malloy, Alliance next question

Laura calling Malloy. in for This is Jim

as subsequent and for for trials moving along, the X here both program the enrollment timing well? top the line With what's Phase data QRXXXX potential

open the by study the certainly data top We believe and from of the double-blinded will study, the year, in for early label next have line end year.

in approval the XXXX. So, to regulatory we're of target part early continuing

know, move we in need that position a of is you are approval quickly patients limited. number here. quite we as So, to And for the pretty

remain. targets those think I So

You've be to conducted East. in Middle the mentioned the XX study patients

have as So on of just of what some you maybe are US? QRXXXX the updates expansion And other the some well? the of potential timelines the outside here

As you established that have XX commercial the outside countries. span know, we eight now US partnerships of

is here focus not US Europe. our So, and just

a as opportunity. this global We looking are at

the into So our access earlier that also say, than, and to of obtain now by jurisdictions studies in their entry the for or in data US use used could we're partners compassionate starting from these respective approval ongoing generate and some to allow programs. Europe, early be

generation how do to these a this up starts the possible So opportunities assess, looking we continue the studies. for data lot for product, now strongest we're to And additional database as us. open of of at we build

broad-based a very look what scenes needs close have stay behind communication at updates. approval We'll and We're So with countries? their further commercial our their taking lot very we're in So tuned. are to Laura, the this. obtain in a discussions happening, partners,

the on progress Congratulations this quarter.

like conference closing session. would for remarks. the to turn over This any question-and-answer concludes our Myers I Michael back to

Thank you.

please have any us. information, questions feel to say We remain appreciate up to accessible. need to out everybody additional as this readily free you Just morning. reach if any further or And always, turning

you have and much. So a day thank very great

now is presentation. you conference for attending concluded. today's The Thank

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