Form 4: Stonepine Capital No Longer 10% Owner of Quoin Pharma
Beneficial Ownership Change
Stonepine Capital Management, LLC has ceased to be a 10% beneficial owner of Quoin Pharmaceuticals, Ltd. due to an increase in outstanding shares.
Summary
- Stonepine Capital Management, LLC, previously identified as a 10% owner and director of Quoin Pharmaceuticals, Ltd. (QNRX), has ceased to be a 10% beneficial owner.
- This change in status is a direct result of Quoin Pharmaceuticals, Ltd. reporting an increase in its outstanding Ordinary Shares to 63,126,930, represented by 1,803,626 American Depositary Shares (ADS), in its Form 10-K filed on March 26, 2026.
- Stonepine Capital Management, LLC's ownership of warrants is subject to a 9.99% beneficial ownership limitation, which means their percentage ownership diluted below 10% as the total number of outstanding shares increased.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral administrative filing. The change in Stonepine Capital Management's beneficial ownership below 10% is a technical consequence of an increased share count, not indicative of positive or negative operational performance or a strategic shift by Stonepine.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that changes in beneficial ownership status, particularly for significant shareholders like Stonepine Capital Management, can sometimes signal shifts in investor confidence or strategic positioning within the biotechnology or pharmaceutical sector. However, in this instance, the change is explicitly attributed to an increase in the issuer's outstanding shares, suggesting a dilution effect rather than a direct divestment.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| 10% Owner | Stonepine Capital Management, LLC | N/A (below 10%) | 03/26/2026 | Increase in Quoin Pharmaceuticals, Ltd.'s outstanding Ordinary Shares, diluting Stonepine Capital Management, LLC's percentage ownership below 10% due to a 9.99% beneficial ownership limitation on their warrants. |
Stakeholder Impact
- Shareholders: The increase in outstanding shares (as reported in the referenced 10-K) implies dilution for existing shareholders, though this Form 4 specifically reports the effect of that dilution on Stonepine's ownership percentage.
- Stonepine Capital Management, LLC: No longer subject to certain Section 16 reporting requirements as a 10% owner.
Key Dates
| Date | Description |
|---|---|
| 03/26/2026 | Quoin Pharmaceuticals, Ltd. filed a Form 10-K reporting 63,126,930 Ordinary Shares outstanding. |
| 03/26/2026 | Stonepine Capital Management, LLC ceased to beneficially own more than 10% of Quoin Pharmaceuticals, Ltd. outstanding Ordinary Shares. |
| 03/31/2026 | Form 4 signed by Jon M. Plexico, Managing Member of Stonepine Capital Management, LLC. |
Keywords
Quoin Pharmaceuticals, QNRX, Stonepine Capital Management, Beneficial Ownership, SEC Form 4, 10% Owner, Share Dilution, Warrants, Ordinary Shares, American Depositary Shares
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