Quoin (QNRX) Director Anthony Culverwell Receives 31,352 ADSs

What Happened

• Culverwell Anthony James, a director of Quoin Pharmaceuticals, reported an acquisition on Aug 27, 2026: 31,352 American Depositary Shares (ADSs) acquired at $5.15 per ADS, reported total value $161,463. The Form 4 lists the transaction as an award/grant/other acquisition (code A).
• This was not an open‑market cash purchase or option exercise. Per the filing, the ADSs were issued in exchange for $161,461 of accrued interest/outstanding debt owed on a previously purchased note (see footnote). The exchange was approved in advance by Quoin’s audit committee and board of directors.

Key Details

• Transaction date and price: Aug 27, 2026 — 31,352 ADSs at $5.15 per ADS (reported value $161,463).
• ADS to ordinary share ratio: each ADS represents 35 ordinary shares — 31,352 ADSs = 1,097,320 ordinary shares.
• Shares owned after transaction: not specified in the excerpt of the filing.
• Footnotes: F1 explains ADSs represent 35 ordinary shares each. F2 states the ADSs were issued in exchange for ~$161.46K of accrued interest/outstanding debt and that the exchange had audit committee and board approval.
• Filing timeliness: Form 4 filed Aug 28, 2026 (the day after the transaction), so the report appears timely.

Context

• This was a conversion of debt/interest into equity rather than a cash purchase. Such transactions increase the insider’s equity stake but reflect debt settlement rather than a fresh cash investment. As always, this is factual reporting of the insider’s change in holdings and should not be taken as commentary on company prospects.