X0202 SCHEDULE 13G/A 0001104659-26-016659 0001940272 XXXXXXXX LIVE 1 American Depositary Shares, each representing thirty-five (35) Ordinary Shares, no par value per share 03/31/2026 0001671502 Quoin Pharmaceuticals, Ltd. 74907L409 42127 Pleasant Forest Court Ashburn VA 20148-7349 Rule 13d-1(b) ADAR1 Capital Management, LLC b TX 0.00 102846.00 0.00 102846.00 102846.00 N 4.9 IA OO Includes (i) 2,300 American Depositary Shares ("Depositary Shares"), each representing thirty-five (35) Ordinary Shares, no par value per share ("Ordinary Shares") held by ADAR1 Partners, LP, (ii) 352 Depositary Shares held by Spearhead Insurance Solutions IDF, LLC, (iii) 349 Depositary Shares held by other separately managed accounts and (iv) 99,845 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC as of March 31, 2026. Excludes 142,579 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC, the exchange and exercise of which are subject to 4.99% beneficial ownership limitations determined in relation to the number of Ordinary Shares underlying the Depositary Shares. As the investment manager of ADAR1 Partners, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC and the separately managed accounts referenced above, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC and the separately managed accounts. Based on 1,961,206 Depositary Shares of Quoin Pharmaceuticals, Ltd. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. ADAR1 Capital Management GP, LLC b TX 0.00 102883.00 0.00 102883.00 102883.00 N 4.9 OO Includes (i) 2,300 American Depositary Shares ("Depositary Shares"), each representing thirty-five (35) Ordinary Shares, no par value per share ("Ordinary Shares") held by ADAR1 Partners, LP and (ii) 100,583 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP as of March 31, 2026. Excludes 109,113 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP, the exchange and exercise of which are subject to 4.99% beneficial ownership limitations determined in relation to the number of Ordinary Shares underlying the Depositary Shares. As the general partner of ADAR1 Partners, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP. Based on 1,961,206 Depositary Shares of Quoin Pharmaceuticals, Ltd. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. Daniel Schneeberger b V8 0.00 102846.00 0.00 102846.00 102846.00 N 4.9 HC IN Includes (i) 2,300 American Depositary Shares ("Depositary Shares"), each representing thirty-five (35) Ordinary Shares, no par value per share ("Ordinary Shares") held by ADAR1 Partners, LP, (ii) 352 Depositary Shares held by Spearhead Insurance Solutions IDF, LLC, (iii) 349 Depositary Shares held by other separately managed accounts and (iv) 99,845 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC as of March 31, 2026. Excludes 142,579 Depositary Shares underlying Warrants to Purchase Ordinary Shares Represented by American Depositary Shares or Exchange Warrants held by ADAR1 Partners, LP and Spearhead Insurance Solutions IDF, LLC, the exchange and exercise of which are subject to 4.99% beneficial ownership limitations determined in relation to the number of Ordinary Shares underlying the Depositary Shares. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Mr. Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC and the separately managed accounts. Based on 1,961,206 Depositary Shares of Quoin Pharmaceuticals, Ltd. (the "Issuer") outstanding as of March 31, 2026, reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 7, 2026. Quoin Pharmaceuticals, Ltd. 42127 Pleasant Forest Court, Ashburn, VA 20148-7349 This Schedule is being filed on behalf of each of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): (i) ADAR1 Capital Management, LLC ("ADAR1 Capital Management"); (ii) ADAR1 Capital Management GP, LLC ("ADAR1 General Partner"); and (iii) Daniel Schneeberger ("Mr. Schneeberger"). The address of the principal business office of each of the Reporting Persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738. (i) ADAR1 Capital Management is a Texas limited liability company; (ii) ADAR1 General Partner is a Texas limited liability company; and (iii) Mr. Schneeberger is a citizen of Switzerland. N IA HC The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. N Y Y N Mr. Schneeberger is filing this Schedule 13G as a control person in respect of shares beneficially owned by ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E). Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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. ADAR1 Capital Management, LLC /s/ Daniel Schneeberger 05/15/2026 ADAR1 Capital Management GP, LLC /s/ Daniel Schneeberger 05/15/2026 Daniel Schneeberger /s/ Daniel Schneeberger 05/15/2026