Quoin Pharmaceuticals, Ltd. (QNRX) shares rose 4.73 percent to $8.41, gaining $0.38 on Wednesday, after the company reported encouraging regulatory feedback for its lead rare disease treatment candidate.
The stock is currently trading at $8.41 compared with its previous close of $8.03. Shares opened at $9.92 and traded between $8.75 and $10.83 during the session on the Nasdaq. Trading volume reached about 3.08 million shares, far above the average volume of about 28,788 shares.
Quoin said the U.S. Food and Drug Administration indicated during a Type C meeting that a single Phase 3 trial may be sufficient to support U.S. approval of QRX003 for Netherton Syndrome, instead of the two studies previously expected. The regulator also expressed openness to alternative trial designs such as randomized withdrawal or delayed-start studies.
The stock has traded in a 52-week range of $5.01 to $41.80.
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