Hoth Therapeutics Retains ShareIntel to Investigate Illegal Naked Shorting Activity

Rhea-AI Summary

On February 16, 2023, Hoth Therapeutics (NASDAQ:HOTH) announced a partnership with Shareholder Intelligence Services to investigate illegal naked short selling activities of its stock. This collaboration aims to enhance monitoring of trading activities, including broker-dealer positions and shareholder movements. CEO Robb Knie stated that this initiative will help identify suspicious trading and protect investor interests. The patented process used by ShareIntel will allow Hoth to proactively track ownership and correct any trading anomalies, reinforcing the company's commitment to safeguarding shareholder interests.

Positive

• Partnership with ShareIntel aims to enhance monitoring of trading activities.
• Proactive tracking of shareholder ownership may identify and curtail illegal activities.
• CEO's statement highlights commitment to protecting shareholder interests.

Negative

• None.

Strengthens Measures to Safeguard Shareholder Interests through ShareIntel's Investigation and Due Diligence Services for Illegal Short Selling

NEW YORK, Feb. 16, 2023 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ:HOTH), a patient-focused biopharmaceutical company, today announced that it has entered into a service agreement with Shareholder Intelligence Services, LLC ("ShareIntel"), a patented compliance driven SAAS retained by public companies to track shareholder ownership and monitor critical broker-dealer and shareholder movement, to investigate and report on potential illegal naked short selling activities of Company stock (HOTH), among other potential trading violations.

"We believe this collaboration with ShareIntel will be value added by allowing Hoth to better monitor trading activity, including broker-dealer, clearing firm, and shareholder position management," said Robb Knie, Chief Executive Officer. "Through investigating reporting anomalies, we should be able to better understand and identify any suspicious and or unusual trading activity, and implement action to protect investors from illegal naked short selling."

ShareIntel utilizes a patented process called DRIL-Down^™ to aggregate and analyze repository data from reporting entities, broker-dealers and shareholders enabling Hoth to proactively track shareholder ownership, identify parties involved in suspicious, aberrant, or unusual trading activity and deploy corrective action steps to help curtail such activity.

About Hoth Therapeutics, Inc. 

Hoth Therapeutics is a clinical-stage biopharmaceutical company dedicated to develop innovative, impactful, and ground-breaking treatments with a goal to improve patient quality of life. We are a catalyst in early-stage pharmaceutical research and development, elevating drugs from the bench to pre-clinical and clinical testing. Utilizing a patient-centric approach, we collaborate and partner with a team of scientists, clinicians, and key opinion leaders to seek out and investigate therapeutics that hold immense potential to create breakthroughs and diversify treatment options. To learn more, please visit https://ir.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 Hoth Therapeutics' recent partnership about?

Hoth Therapeutics partnered with Shareholder Intelligence Services to investigate illegal naked short selling.

When was the Hoth Therapeutics press release issued?

The press release was issued on February 16, 2023.

What stock symbol does Hoth Therapeutics trade under?

Hoth Therapeutics trades under the stock symbol HOTH.

How does ShareIntel help Hoth Therapeutics?

ShareIntel helps Hoth monitor trading activities and identify suspicious trading.

Who is the CEO of Hoth Therapeutics?

The CEO of Hoth Therapeutics is Robb Knie.