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 experiencing a notable pre-market surge, trading at $0.882, which represents a 12.07% increase from its previous close of $0.787. This upward trajectory is evidenced by a substantial trading volume of 5.39 million shares, indicating heightened investor interest. Analysts suggest that if HOTH maintains above the critical support level of $0.80, there is potential for further gains in its stock value. Investors are advised to closely monitor resistance levels and volume trends to confirm the continuation of this bullish momentum, while also considering broader market influences that may impact performance.

In a significant development, Hoth Therapeutics has entered into a strategic patent license agreement with the U.S. Department of Veterans Affairs (VA), in collaboration with Emory University. This exclusive agreement allows Hoth to capitalize on a groundbreaking patent portfolio focusing on Glial Cell Line-Derived Neurotrophic Factor, targeted at addressing the pressing public health crisis of obesity and its related complications. The deal provides Hoth with the rights to develop, market, and commercialize therapeutic products stemming from these innovations, significantly enhancing its role in the healthcare sector.

Robb Knie, CEO of Hoth Therapeutics, expressed enthusiasm for this partnership, highlighting the substantial impact this technology could have on obesity treatment. He emphasized the company’s commitment to harnessing scientific advancements to improve patients’ quality of life globally. Furthermore, Hoth is poised to expand its intellectual property by securing provisional patent protection for its lead therapeutic, HT-001, which demonstrates the company’s strategic approach in diversifying its therapeutic offerings, particularly in cancer treatments. Through these initiatives, Hoth Therapeutics is dedicated to transforming scientific research into effective healthcare solutions.

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