QuikClot is an inorganic compound that when applied to a wound will create an exothermic reaction (a reaction that gives off heat) that helps absorb liquid and concentrates the coagulation factors, which helps stop bleeding. Because of the exothermic reaction heat injury to the applied tissue is a possible side affect. From what I can remember from a lecture by Dr. Hagmann, who has done a lot of research with QuikClot in pig models, he thought there was good promise in it as a hemostatic dressing. However more studies had to be preformed.
Here is the web site of the company that makes it-
http://www.z-medica.com/