Hoth Therapeutics Provides Update on Novel Peptide COVID-19 Therapeutic HT-002 Preclinical Studies

Rhea-AI Summary

Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced progress on its preclinical study for HT-002, a peptide therapeutic aimed at preventing or treating COVID-19. Conducted at Virginia Commonwealth University, the study has identified three optimized peptide candidates that may inhibit the SARS-CoV-2 virus, with one showing low viral inhibition and no toxicity. The peptides are believed to be effective against emerging virus variants, and further in vitro testing is underway. Hoth continues to support this research through funding agreements with VCU.

Positive

• HT-002 peptide shows potential for viral inhibition against SARS-CoV-2.
• Research led by a credible expert in the field, Dr. Michael H. Peters.
• Optimized peptide candidates may effectively target new virus variants.

Negative

• None.

NEW YORK, March 3, 2021 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient focused clinical stage biopharmaceutical company, today provided an update on preclinical study on HT-002 for the prevention and/or treatment of Sars-CoV-2, or COVID-19.

The novel peptide therapeutic, HT-002, in which Hoth Therapeutics holds an exclusive license, targets inhibition of SARS-COV-2 virus cell infection is under development at Virginia Commonwealth University ("VCU"). There are 3 leading peptide candidates that have been optimized chemically to maximize the potential viral inhibition. These candidates are currently under investigation using live SARS-CoV-2 viral inhibition assays to determine the level of viral inhibition in vitro. One of the peptide candidates has demonstrated low level viral inhibition assay with no toxicity to the host cell. One or more of the optimized peptide candidates may be combined to achieve maximum viral inhibition.  

Peptide sequence modeling analysis supports that these optimized peptides could be effective against the emerging UK and South African SARS-CoV-2 strain variants.

The research is being led by inventor Michael H. Peters, Ph.D., Professor, Department of Chemical and Life Science Engineering at VCU, College of Engineering. Hoth Therapeutics continues to fund Dr. Peters research through a sponsored research agreement with Virginia Commonwealth University (VCU).

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 Contact:
LR Advisors LLC
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678) 570-6791

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SOURCE Hoth Therapeutics, Inc.

FAQ

What is HT-002 and its significance for Hoth Therapeutics?

HT-002 is a novel peptide therapeutic being developed by Hoth Therapeutics to prevent or treat COVID-19, showing promising preclinical results.

What have the preclinical studies on HT-002 revealed?

The studies have identified three optimized peptide candidates that may inhibit SARS-CoV-2, with one candidate displaying low viral inhibition and no toxicity.

How does HT-002 perform against different variants of SARS-CoV-2?

Peptide sequence modeling suggests that the optimized candidates could effectively address emerging variants of the virus.

What are the next steps for Hoth Therapeutics regarding HT-002?

Hoth is advancing the preclinical studies with further in vitro testing to determine the efficacy of the peptide candidates.

What is the role of Virginia Commonwealth University in the HT-002 studies?

Virginia Commonwealth University is conducting the preclinical studies on HT-002, funded through a research agreement with Hoth Therapeutics.