Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) Q4 2022 Earnings Call Transcript

Michael Myers: Yes. So before I hand it over to Gordon to give you that breakdown on G&A, we only started clinical testing in the second half of the year. So it’s not unusual where you see that lag. And then as Gordon alluded, clinical spending will increase this year. So I’m not at all surprised that you see that difference between R&D spend and G&A spend, given the timing of when we got the clinicals up and running. And there is always a lag as well in terms of the actual spend itself. So nothing unusual there. Gordon, do you want to give the top line breakdown?

Gordon Dunn: Yes, sure. I think just to reiterate Michael’s comments, I mean, I think our G&A spend is not high for a company — a listed company like us. It’s — but relative to the R&D, it looks high because our costs have been lower today, and they definitely will pick up. But these clinical studies that we’re doing now are pretty compact studies, which is why you see relatively low R&D costs. On G&A, we don’t have a central office or any sort of big overhead expenses. It’s essentially — we’ve got 4 employees in the company. So the compensation cost of the employees, including noncash compensation costs for equity incentives. And then we’ve got what you would expect from a public company in terms of legal, accounting, those kind of costs that you incur as a listed company. And you’ll see in our 10-K, how that’s all broken down, but those are the 2 main buckets of costs. It’s essentially compensation costs and then legal and accounting and consultants.

Operator: There are no more questions in the queue. This concludes our question-and-answer session. I would like to turn the conference back over to Michael Myers for any closing remarks.

Michael Myers: Thank you, operator, and thanks, everybody, for participating in the call today. We are always available to answer any questions offline, so feel free to reach out to us at any point in time. Thank you, and have a great day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.