Why Quoin Pharmaceutical Stock Is Soaring

Quoin Pharmaceuticals, Ltd. QNRX shares are trading higher Monday after the company announced it has obtained FDA clearance to recruit teen subjects into both of its ongoing Netherton Syndrome clinical studies.

The Details:

Quoin announced clearance from the U.S. Food and Drug Administration (FDA) to recruit teen subjects aged 14 years and older into its two ongoing clinical trials for QRX003, which is being developed as a potential treatment for Netherton Syndrome. 

“We are very pleased to announce this exciting development, not just for Quoin’s clinical program, but for the Netherton community as a whole. We are frequently petitioned by parents and caregivers that teen subjects be allowed to participate in our clinical studies, given the severity of the disease and the absolute dearth of viable treatment options. Today, it is our privilege to announce that we have FDA clearance to do just that," stated Dr. Michael Myers, CEO of Quoin.

Quoin shares are climbing on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 14 million shares have already been traded in the session, compared to the stock’s 100-day average of less than 31,000 shares.

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How To Buy QNRX Stock?

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Quoin Pharmaceuticals case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

QNRX Price Action: According to Benzinga Pro, Quoin Pharmaceutical shares are up 84% at $5.09 at the time of publication.

Image: Akava Photo from Pixabay