Welcome to our dedicated page for Hoth Therapeutics news (Ticker: HOTH), a resource for investors and traders seeking the latest updates and insights on Hoth Therapeutics stock.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for dermatological disorders and other significant medical needs. The company focuses on conditions such as eczema, chronic wounds, psoriasis, asthma, and acne. Utilizing their proprietary BioLexa Platform, Hoth Therapeutics aims to create two topical cream products to treat eczema and reduce post-procedure infections in aesthetic dermatology patients.
Hoth Therapeutics has established numerous license and partnership agreements with prestigious institutions including The George Washington University, The University of Maryland Baltimore, Isoprene Pharmaceuticals, Inc., North Carolina State University, Chelexa Biosciences, Inc., The University of Cincinnati, and Zyla Therapeutics, Inc. Notably, Hoth is co-developing a topical treatment with Zyla Therapeutics for cutaneous lupus erythematosus, an autoimmune disease that severely impacts patient quality of life.
The company’s research collaborations extend to various areas including HT-001, a potential treatment for cancer patients experiencing skin toxicities from Epidermal Growth Factor Receptor Inhibitors (EGFRI). Hoth has recently received FDA clearance to proceed with protocol amendments in its ongoing Phase 2a clinical trials for HT-001, aiming to optimize clinical outcomes.
Hoth Therapeutics has also made strides in Alzheimer's Disease research with its HT-ALZ project, targeting neuroinflammation and cognitive deficits by antagonizing the NK1 receptor. Pre-clinical research has shown promising results in improving cognitive functions among Alzheimer's patients.
In addition to their pipeline, Hoth's subsidiary Merveille.ai has been pivotal in advancing obesity treatment using artificial intelligence. The discovery of a promising new therapeutic candidate for obesity, leveraging large language model technologies, underscores their commitment to innovative health solutions.
Financially, Hoth Therapeutics recently engaged in an agreement to exercise warrants, raising approximately $4.2 million to support its working capital needs. Their strategic partnership with Venable, LLP further strengthens their intellectual property protection, vital for ongoing and future therapeutic developments.
Collaborations with Wise Systems International SRL and integration of the Nvidia BioNeMo AI platform are set to enhance Hoth's drug discovery capabilities, leveraging artificial intelligence for cutting-edge therapeutic advancements.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) has signed a Letter of Intent to merge with Algorithm Sciences, Inc., which specializes in treatments for Pulmonary Arterial Hypertension (PAH). The merger aims to amplify Hoth's market potential, with an anticipated combined valuation yielding billions in market opportunities for shareholders. Post-merger, Algorithm shareholders will hold approximately 86% of the new entity. The leadership team will include former AstraZeneca executive Anthony Zook as Chairman and Mike Tilton as CEO. The PAH treatment market is projected to grow from $7.2 billion in 2021 to $12 billion by 2031, a CAGR of 5.2%. The transaction completion is subject to regulatory reviews and stockholder approval.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced the activation of Washington University School of Medicine in St. Louis as the first clinical site for the CLEER-001 Phase 2a clinical trial of HT-001. This trial targets rash and skin disorders associated with epidermal growth factor receptor (EGFR) inhibitor therapy, which is significant for cancer patients undergoing treatment for various cancers, including non-small cell lung cancer and breast cancer. CEO Robb Knie emphasized the importance of this milestone in improving patient quality of life.
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.
Hoth Therapeutics, Inc. (NASDAQ:HOTH) has reported promising proof-of-concept data for its Alzheimer's disease therapeutic, HT-ALZ, following a study on aged APP/PS1+/- mice. Using doses of 20mg/kg and 40mg/kg, results indicated significant cognitive improvements, including reduced anxiety levels and enhanced spatial memory performance in maze tests. The research, conducted with Washington University in St. Louis, highlights HT-ALZ's potential under the 505(b)(2) regulatory pathway. Previous studies also demonstrated a notable decrease in brain amyloid β levels after acute treatment with HT-ALZ.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) has initiated patient recruitment for its Phase 2a clinical trial aimed at treating skin disorders linked to epidermal growth factor receptor (EGFR) inhibitor therapy. The company has selected three clinical sites in St. Louis, Miami, and Houston for the trial, which will also include a follow-up Phase 2b safety and efficacy study. The EGFR inhibitors are essential for treating several cancers, including non-small cell lung cancer and breast cancer. CEO Robb Knie emphasized that this selection marks a significant milestone for Hoth as they prepare to begin enrollment.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced the completion of a private placement, raising $10 million in gross proceeds. The company sold 2,000,000 shares of common stock and warrants to purchase up to 2,500,000 shares at $5.00 each. The proceeds will support the development of product candidates and general corporate purposes. The warrants have an exercise price of $5.00 and a term of 5.5 years. Hoth is also required to file a registration statement with the SEC within 15 days for the resale of the securities.
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