24/7 Market News Snapshot 26 December, 2024 – Hoth Therapeutics, Inc. Common Stock (NASDAQ:HOTH)

December 26, 2024

DENVER, Colo., 26 December, 2024 (247marketnews.com) – (NASDAQ:HOTH) are discussed in this article.
Hoth Therapeutics, Inc. (HOTH) is currently trading at $0.732, experiencing a decline of approximately 6.99% from its previous close of $0.787. The trading volume has reached 7.42 million shares, indicating heightened investor interest despite prevailing bearish sentiment. Market analysts suggest that key support levels could arise around the recent low of $0.70, while resistance is anticipated near the $0.80 mark. Stakeholders are advised to keep a close watch on market trends and developments affecting Hoth to gauge potential recovery or further decline in the stock’s value.

In a substantial advancement for its operations, Hoth Therapeutics has entered an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA) and Emory University. This agreement allows Hoth the exclusive rights to a patent portfolio focused on utilizing Glial Cell Line-Derived Neurotrophic Factor to combat obesity and related health issues. This innovative technology is expected to play a critical role in addressing the global obesity epidemic, which has significant health implications.

Robb Knie, Chief Executive Officer of Hoth Therapeutics, expressed excitement over the partnership, stating, “We are thrilled to partner with the VA and Emory University to bring this promising technology to market.” He added that this collaboration is pivotal in Hoth’s mission to provide innovative solutions for obesity and its associated conditions.

Moreover, Hoth Therapeutics is actively pursuing further intellectual property protections, having signed a Letter of Intent for provisional patent rights concerning its lead therapeutic, HT-001, which may expand its application in cancer therapies. This strategic move highlights Hoth Therapeutics’ commitment to advancing healthcare solutions and fostering collaborations that bridge research and therapeutic innovation, ultimately aiming to enhance patient outcomes in critical healthcare sectors.

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