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. (NASDAQ:HOTH), a trailblazing biopharmaceutical company committed to the development of innovative therapies, has announced an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA). This agreement provides Hoth with exclusive rights to a pioneering patent portfolio collaboratively developed by the VA and Emory University. The focus of this portfolio is on “Glial Cell Line-Derived Neurotrophic Factor, Obesity, and Obesity-Related Diseases and Conditions”—a strategic move to address the escalating issues related to obesity and its associated health challenges.

The announcement comes at a time when Hoth is witnessing a favorable pre-market trading session, with shares priced at $0.800, reflecting an increase of 1.65% from the previous close. The trading volume has reached 6.61 million shares, highlighting strong investor interest and positive market sentiment, potentially spurred by this recent news. Observing key technical indicators, such as moving averages and relative strength index (RSI), will be crucial for traders looking to navigate the potential momentum and identify resistance levels above $0.800.

Robb Knie, Chief Executive Officer of Hoth Therapeutics, expressed enthusiasm regarding the collaboration, emphasizing the milestone it represents in the company’s mission to combat obesity and improve patient outcomes. He noted, “We are honored to collaborate with the VA and Emory University to bring this cutting-edge technology to market.” Alongside its commitment to commercialization, Hoth has also secured provisional patent protection for its lead therapeutic, HT-001, further enhancing its intellectual property portfolio.

As Hoth Therapeutics pursues its vision of turning scientific research into viable therapeutic solutions, this partnership exemplifies its determination to meet unmet medical needs and significantly improve patient quality of life in a rapidly evolving healthcare landscape.

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