Hoth Therapeutics and Virginia Commonwealth University Expand Research Agreement for COVID-19 Therapeutic
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced an expansion of its research agreement with Virginia Commonwealth University focused on developing the COVID-19 therapeutic HT-002. This decision comes after promising preclinical results from Dr. Michael Peters using live virus assays. The research will explore HT-002's effectiveness against SARS-CoV-2 variants, informed by recent molecular modeling studies. Hoth holds an exclusive license for this peptide therapeutic, which aims to provide new treatments for COVID-19.
- Expanded research agreement with Virginia Commonwealth University for COVID-19 therapeutic HT-002.
- Promising preclinical results using live virus assays.
- Exclusive license for the novel peptide COVID-19 therapeutic HT-002.
- None.
NEW YORK, May 5, 2021 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, today announced it has expanded its sponsored research agreement with Virginia Commonwealth University (VCU) for a potential COVID-19 treatment.
Based on positive preclinical results generated by Dr. Michael Peters against COVID-19 using live virus inhibition assays, Hoth has amended its original scientific agreement with VCU and has agreed to further develop Dr. Peters's novel peptide COVID-19 Therapeutic, HT-002. Hoth Therapeutics has an exclusive license to this novel peptide COVID-19 therapeutic.
The expanded research agreement will focus on investigating the potential of HT-002 to inhibit SARS-CoV-2 virus variants. This work will be informed by the molecular modeling of SARS-CoV-2 spike peptide sequences from strain variants, reported in the preprint publication in bioRxiv earlier this year.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for unmet medical needs. Hoth's pipeline development is focused to improve the quality of life for patients suffering from indications including atopic dermatitis, skin toxicities associated with cancer therapy, chronic wounds, psoriasis, asthma, acne, and pneumonia. Hoth has also entered into two different agreements to further the development of two therapeutic prospects to prevent or treat COVID-19. To learn more, please visit www.hoththerapeutics.com.
Forward-Looking Statement
This press release includes forward-looking statements based upon Hoth's current expectations which may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws, and are subject to substantial risks, uncertainties and assumptions. These statements concern Hoth's business strategies; the timing of regulatory submissions; the ability to obtain and maintain regulatory approval of existing product candidates and any other product candidates we may develop, and the labeling under any approval we may obtain; the timing and costs of clinical trials, the timing and costs of other expenses; market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our clinical trials, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our competitive position; our industry environment; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our products, product pricing, timing of product launches; management's expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. You should not place reliance on these forward-looking statements, which include words such as "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes. Hoth may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the section entitled "Risk Factors" in Hoth's most recent Annual Report on Form 10-K and Hoth's other filings made with the U. S. Securities and Exchange Commission. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as Hoth's current plans, estimates, and beliefs. Investors should not place undue reliance on forward-looking statements. Hoth cannot guarantee future results, events, levels of activity, performance or achievements. Hoth does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.
Investor Relations Contact:
LR Advisors LLC
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678) 570-6791
Media Relations Contact:
Makovsky
Miriam Brito, Assistant Vice President
Email: hoth-mak@makovsky.com
Phone: (914)-406-0435
View original content to download multimedia:http://www.prnewswire.com/news-releases/hoth-therapeutics-and-virginia-commonwealth-university-expand-research-agreement-for-covid-19-therapeutic-301284489.html
SOURCE Hoth Therapeutics, Inc.
FAQ
What does Hoth Therapeutics' expanded research agreement involve?
What are the promising results reported by Hoth Therapeutics?
What is the significance of HT-002 in Hoth Therapeutics' research?
When was the research agreement with Virginia Commonwealth University announced?
What is Hoth Therapeutics' stock symbol?
