QRX-003 is commercialized by Quoin Pharmaceuticals, with a leading Phase III program in Netherton Syndrome (Trichorrhexis Invaginata, Bamboo Hair). According to Globaldata, it is involved in 2 clinical trials, of which 1 is ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of QRX-003’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for QRX-003 is expected to reach an annual total of $9 mn by 2034 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

QRX-003 Overview

QRX-003 is under development for the treatment of Netherton syndrome, peeling skin syndrome, SAM syndrome and palmoplantar keratoderma. It is formulated as lotion and administered through topical route. The drug candidate acts by targeting serine protease. It is developed based on proprietary polymer technology.

Quoin Pharmaceuticals Overview

Quoin Pharmaceuticals (Quoin), formerly Cellect Biotechnology Ltd, develops and commercializes therapeutic products to treat rare and orphan diseases. The company is investigating QRX003, a therapy for the treatment of Netherton syndrome, peeling skin syndrome, palmoplantar keratoderma and SAM syndrome and QRX004, a topical lotion against epidermolysis bullosa (EB). It is also evaluating QRX007, to reduce the side effects associated with systemic treatment and targeting undisclosed rare skin diseases and QRX008 for the treatment of scleroderma. Quoin utilizes its proprietary Invisicare delivery technology to develop its products. It partners with healthcare organizations and foundations. Quoin is headquartered in Tel Aviv, Israel.

The operating loss of the company was US$6.1 million in FY2021, compared to an operating loss of US$3.9 million in FY2020. The net loss of the company was US$21.5 million in FY2021, compared to a net loss of US$5.1 million in FY2020.

For a complete picture of QRX-003’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.