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) is experiencing a positive upswing in its stock performance, trading at $0.808 during pre-market hours, indicating a rise of 2.67% from the previous close. This noteworthy increase has captured the attention of investors, highlighted by an impressive trading volume of 6.72 million shares. Such activity reflects heightened interest and suggests potential momentum for the company. Investors are encouraged to monitor key support levels around $0.787 and anticipate resistance near the psychological threshold of $0.81 as the situation unfolds.

In a strategic development, Hoth Therapeutics has entered into an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA), in collaboration with Emory University. This agreement grants Hoth exclusive rights to a groundbreaking patent portfolio aimed at addressing obesity and its related health issues through innovative therapies. Central to this technology is the focus on “Glial Cell Line-Derived Neurotrophic Factor,” which represents a significant breakthrough in combating one of today’s most pressing public health challenges.

Robb Knie, the CEO of Hoth Therapeutics, highlighted the importance of this partnership, stating that it marks a crucial step in their pursuit of innovative, scientifically-driven solutions to tackle obesity. The development plan associated with this agreement is designed to propel the technology from research to commercialization effectively.

Moreover, Hoth Therapeutics is taking steps to broaden its intellectual property portfolio by signing a Letter of Intent (LOI) for additional provisional patent protection related to its lead therapeutic product, HT-001, which aims to expand its reach into vital therapeutic areas, including cancer treatments. The company’s ongoing commitment to advancing impactful healthcare solutions and fostering collaborations underscores its dedication to addressing unmet medical needs within the biopharmaceutical sector.

Related news for (HOTH)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.