Business Context and Reporting Period
This Form 6-K filing by Quoin Pharmaceuticals, Ltd. covers the month of June 2022, with the report dated June 6, 2022. The company, formerly known as Cellect Biotechnology Ltd., is a foreign private issuer reporting pursuant to Rule 13a-16 under the Securities Exchange Act of 1934.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on corporate agreements rather than financial performance data.
Material Changes and Corporate Actions
- Research Agreement: Effective May 20, 2022, Quoin Pharmaceuticals, Inc. entered into a Research Agreement with Queensland University of Technology, Australia. The collaboration focuses on selecting a lead VLA-4 inhibitor for a Scleroderma clinical development program.
- Waiver Agreement: On June 6, 2022, the Company and Quoin Pharmaceuticals, Inc. entered into a Waiver Agreement with Altium Growth Fund, LP. This agreement waived certain provisions of the Securities Purchase Agreement dated March 24, 2021, specifically permitting the Company to file a registration statement.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management commentary on future outlook, or a discussion of risks and contingencies. The primary focus is the execution of the aforementioned agreements and the incorporation of these documents by reference into the Company's registration statements on Form S-8 and Form F-3.
Key Facts for Investor Verification
- Verify the specific terms and milestones of the Research Agreement with Queensland University of Technology regarding the VLA-4 inhibitor for Scleroderma.
- Confirm the impact of the Waiver Agreement with Altium Growth Fund, LP on the Company's ability to proceed with its registration statement.
- Review the full text of Exhibit 10.1 (Research Agreement) and Exhibit 10.2 (Waiver Agreement) attached to the filing for omitted provisions and detailed legal terms.