24/7 Market News Snapshot 05 September, 2024 – Hoth Therapeutics, Inc. Common Stock (NASDAQ:HOTH)

September 5, 2024

DENVER, Colo., 05 September, 2024 (247marketnews.com) – (NASDAQ:HOTH) are discussed in this article.
Hoth Therapeutics, Inc. has experienced a remarkable uptick in trading activity, with shares rising significantly throughout the day. The stock opened at $1.13 and surged by more than 63% to reach $1.158, following a close of $0.710. This impressive performance comes amid a substantial trading volume of 96.68 million shares, indicating heightened investor interest and optimism surrounding the company’s ongoing developments.

In a significant advancement for the company, Hoth Therapeutics has announced the receipt of Institutional Review Board (IRB) approval for its First-in-Human (FIH) Phase 2a clinical trial of HT-001. This trial aims to assess the safety and efficacy of HT-001 in treating skin toxicities linked to Epidermal Growth Factor Receptor Inhibitors (EGFRi), which represents a critical area of unmet medical need for many cancer patients. The trial will be conducted in partnership with two prominent medical institutions recognized for their expertise in cancer treatment and research.

Robb Knie, Chief Executive Officer of Hoth Therapeutics, expressed his enthusiasm regarding this milestone, emphasizing the importance of this trial in potentially delivering a therapeutic solution that could significantly improve the quality of life for cancer patients experiencing skin-related side effects from EGFRi therapies. The Phase 2a study marks a pivotal moment in the company’s journey toward addressing these challenging treatment-related issues.

Hoth Therapeutics concluded the previous quarter with over $9 million in cash reserves, positioning the company favorably to sustain its operations and research efforts throughout 2024 without immediate plans for further capital raises. As Hoth moves forward, it remains dedicated to exploring innovative treatments that prioritize patient care and aim to make meaningful contributions to the field of oncology.

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