X0202 SCHEDULE 13G/A 0000935836-26-000065 0001440771 XXXXXXXX LIVE 2 Ordinary Shares 03/31/2026 0001671502 Quoin Pharmaceuticals, Ltd. 74907L409 23 HATA'AS STREET KFAR SABA L3 44425 Rule 13d-1(c) Stonepine Capital Management, LLC b DE 0.00 7594166.00 0.00 7594166.00 7594166.00 N 9.99 IA OO The reporting persons beneficially own American Depositary Shares ("ADSs"). Each ADS represents 35 Ordinary Shares of the Issuer. The securities beneficially owned by the reporting persons consist of (1) 53,460 ADSs beneficially owned by the reporting persons, (2) pre-funded warrants to acquire 81,212 ADSs beneficially owned by the reporting persons, and (3) ordinary warrants to acquire 484,848 ADSs beneficially owned by the reporting persons. The pre-funded warrants and ordinary warrants are subject to a 9.99% beneficial ownership limitation. The percentage reported herein is calculated based on 70,294,615 Ordinary Shares, represented by 2,008,417 ADSs, outstanding as of May 5, 2026, as reported in the Form 10-Q for the quarter ended March 31, 2026, plus 1,400,000 Ordinary Shares represented by 40,000 issued to the reporting person on exercise of pre-funded warrants after December 5, 2025. Stonepine Capital, L.P. b DE 0.00 7594166.00 0.00 7594166.00 7594166.00 N 9.99 PN The reporting persons beneficially own ADSs. Each ADS represents 35 Ordinary Shares of the Issuer. The securities beneficially owned by the reporting persons consist of (1) 53,460 ADSs beneficially owned by the reporting persons, (2) pre-funded warrants to acquire 81,212 ADSs beneficially owned by the reporting persons, and (3) ordinary warrants to acquire 484,848 ADSs beneficially owned by the reporting persons. The pre-funded warrants and ordinary warrants are subject to a 9.99% beneficial ownership limitation. The percentage reported herein is calculated based on 70,294,615 Ordinary Shares, represented by 2,008,417 ADSs, outstanding as of May 5, 2026, as reported in the Form 10-Q for the quarter ended March 31, 2026, plus 1,400,000 Ordinary Shares represented by 40,000 issued to the reporting person on exercise of pre-funded warrants after December 5, 2025.. Stonepine GP, LLC b DE 0.00 7594166.00 0.00 7594166.00 7594166.00 N 9.99 OO The reporting persons beneficially own ADSs. Each ADS represents 35 Ordinary Shares of the Issuer. The securities beneficially owned by the reporting persons consist of (1) 53,460 ADSs beneficially owned by the reporting persons, (2) pre-funded warrants to acquire 81,212 ADSs beneficially owned by the reporting persons, and (3) ordinary warrants to acquire 484,848 ADSs beneficially owned by the reporting persons. The pre-funded warrants and ordinary warrants are subject to a 9.99% beneficial ownership limitation. The percentage reported herein is calculated based on 70,294,615 Ordinary Shares, represented by 2,008,417 ADSs, outstanding as of May 5, 2026, as reported in the Form 10-Q for the quarter ended March 31, 2026, plus 1,400,000 Ordinary Shares represented by 40,000 issued to the reporting person on exercise of pre-funded warrants after December 5, 2025. Jon M. Plexico b X1 0.00 7594166.00 0.00 7594166.00 7594166.00 N 9.99 HC IN The reporting persons beneficially own ADSs. Each ADS represents 35 Ordinary Shares of the Issuer. The securities beneficially owned by the reporting persons consist of (1) 53,460 ADSs beneficially owned by the reporting persons, (2) pre-funded warrants to acquire 81,212 ADSs beneficially owned by the reporting persons, and (3) ordinary warrants to acquire 484,848 ADSs beneficially owned by the reporting persons. The pre-funded warrants and ordinary warrants are subject to a 9.99% beneficial ownership limitation. The percentage reported herein is calculated based on 70,294,615 Ordinary Shares, represented by 2,008,417 ADSs, outstanding as of May 5, 2026, as reported in the Form 10-Q for the quarter ended March 31, 2026, plus 1,400,000 Ordinary Shares represented by 40,000 issued to the reporting person on exercise of pre-funded warrants after December 5, 2025. Quoin Pharmaceuticals, Ltd. 42127 Pleasant Forest Court, Ashburn, VA 20148 Stonepine Capital Management, LLC, a Delaware limited liability company ("Stonepine") Stonepine Capital, L.P., a Delaware limited partnership (the "Partnership") Stonepine GP, LLC, a Delaware limited liability company (the "General Partner") Jon M. Plexico Stonepine and the General Partner are the investment adviser and general partner, respectively, of the Partnership. Mr. Plexico is the control person of Stonepine and the General Partner. The reporting persons are filing this Schedule 13G jointly, but not as members of a group, and each disclaims membership in a group. Each reporting person also disclaims beneficial ownership of Ordinary Shares except to the extent of that person's pecuniary interest therein. In addition, the filing of this Schedule 13G on behalf of the Partnership should not be construed as an admission that it is, and it disclaims that it is, a beneficial owner, as defined in Rule 13d-3 under the Act, of any Ordinary Shares covered by this Schedule 13G. 2900 NW Clearwater Drive, Suite 100-11, Bend OR 97703 See Item 4 of the cover sheet for each reporting person. Y Stonepine: 7,594,166 Partnership: 7,594,166 General Partner: 7,594,166 Jon M. Plexico: 7,594,166 Stonepine: 9.99% Partnership: 9.99% General Partner: 9.99% Jon M. Plexico: 9.99% Stonepine: 0 Partnership: 0 General Partner: 0 Jon M. Plexico: 0 Stonepine: 7,594,166 Partnership: 7,594,166 General Partner: 7,594,166 Jon M. Plexico: 7,594,166 Stonepine: 0 Partnership: 0 General Partner: 0 Jon M. Plexico: 0 Stonepine: 7,594,166 Partnership: 7,594,166 General Partner: 7,594,166 Jon M. Plexico: 7,594,166 Y N The Partnership holds ADSs for the benefit of its investors and has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, ADSs. Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. EXHIBIT 99 - AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G Stonepine Capital Management, LLC /s/ Jon M. Plexico 05/15/2026 Stonepine Capital, L.P. /s/ Jon M. Plexico 05/15/2026 Stonepine GP, LLC /s/ Jon M. Plexico 05/15/2026 Jon M. Plexico /s/ Jon M. Plexico 05/15/2026