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) 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.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced a definitive agreement for a private placement of 2,000,000 shares of its common stock and warrants to purchase 2,500,000 shares at $5.00 per share. The gross proceeds from this placement are estimated at $10 million, slated to close around January 3, 2023, subject to customary conditions. The funds will be used for product development and general corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent. The securities will be offered under SEC regulations and require future registration for resale.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced that the FDA accepted its IND application for HT-001, aimed at treating skin disorders from EGFR inhibitor therapy. This marks a vital step towards addressing unmet needs in cancer treatment, as current options for skin toxicities are limited. CEO Robb Knie expressed optimism about advancing to a Phase 2a trial expected in Q1 2023. This development illustrates Hoth's commitment to enhancing patient quality of life and indicates a critical progression in the onco-dermatology field.
Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, announced on December 1, 2022, that it submitted an Investigational New Drug (IND) application to the FDA for HT-001, targeting skin disorders linked to EGFR inhibitor treatments. Currently, there is no approved treatment for these side effects. The Phase 2a clinical trial is anticipated to begin as early as Q1 2023, pending FDA review. The IND submission aims to expedite the process using the 505(b)(2) pathway, leveraging existing data to lessen nonclinical and clinical requirements.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced on November 9, 2022, that it has regained compliance with NASDAQ Listing Rule 5550(a)(2) regarding minimum bid price requirements. This follows a notice received on December 30, 2021, indicating that the company's stock had fallen below the $1.00 minimum bid price. The company achieved compliance by maintaining a closing bid price of $1.00 or greater for ten consecutive business days, from October 26 to November 8, 2022.
Hoth Therapeutics has announced positive Phase 1b clinical trial results for BioLexa, aimed at treating mild-to-moderate atopic dermatitis. The trial demonstrated substantial improvements, with 100% of participants showing over 50% improvement as measured by the Eczema Area and Severity Index (EASI) over 28 days. Additionally, 60% of patients exhibited over 35% improvement using the SCORAD scale. BioLexa was well-tolerated without serious adverse events and improved quality of life for over half of participants.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced a 1-for-25 reverse stock split effective at 12:01 a.m. Eastern Time on October 26, 2022. This decision aims to comply with the Nasdaq’s $1.00 minimum bid price requirement for continued listing. Post-split, approximately 1,288,468 shares will be outstanding, and authorized shares will adjust to 3,000,000. The company will continue trading under the symbol HOTH. However, there is no guarantee this split will ensure compliance with Nasdaq standards.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced a partnership with Altasciences to develop the HT-TBI drug formulation aimed at treating secondary brain injuries from ischemic stroke and traumatic brain injury (TBI). This ready-to-use drug-device combination will be designed for use in non-healthcare settings by patients, caregivers, and emergency responders. The development will support a future Investigational New Drug (IND) application for clinical trials. The global acute ischemic stroke market is projected to reach $2.7 billion by 2029.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced promising results for its HT-004 treatment, which significantly reduced lung inflammation in an asthma mouse model after an ovalalbumin challenge. This innovative therapy utilizes a chemically-stable antisense oligonucleotide to inhibit IgE receptor function, leading to reduced mast cell activation. Collaborating with North Carolina State University, Hoth aims to explore HT-004's potential in larger animal models, further developing this candidate for asthma and allergic disorders. Hoth is also seeking patent protection for this intellectual property.
Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced its presentation at the Sidoti Investor Conference on August 17-18, 2022. The company focuses on developing innovative biopharmaceutical treatments aimed at improving patient quality of life. Hoth is dedicated to early-stage pharmaceutical research and collaborates with scientists and clinicians to explore impactful therapeutics. For more details on the conference, interested parties can visit the Sidoti website.
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