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. has opened trading today at $0.81, experiencing a decline to approximately $0.745, reflecting a decrease of about 5.34%. The stock closed yesterday at $0.787, indicative of bearish momentum in today’s trading activity. With a trading volume of 7.35 million shares, significantly surpassing the average, there is evident increased investor interest or potential selling pressure. Traders should note that the current downward trend suggests a potential support level near $0.74, warranting close observation; a breach of this level could elevate downside risks, while movements above $0.79 may indicate a possible reversal.

In a strategic move to bolster its position in the biopharmaceutical sector, Hoth Therapeutics has successfully secured 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 patent portfolio specifically addressing critical issues related to obesity and its associated health conditions. The technology centers around “Glial Cell Line-Derived Neurotrophic Factor,” which seeks to tackle the complexities of obesity management.

Robb Knie, CEO of Hoth Therapeutics, highlighted the significance of this partnership, stating, “We are honored to work alongside the VA and Emory University to advance this pioneering technology.” The potential developments arising from this collaboration signify a remarkable step towards making valuable treatments accessible to global populations facing obesity challenges.

Additionally, Hoth is expanding its intellectual property portfolio through a newly signed letter of intent (LOI) aimed at acquiring provisional patent protection for its lead therapeutic, HT-001. This broadens the company’s market opportunities, underscoring Hoth Therapeutics’ commitment to developing innovative healthcare solutions that can significantly improve patient outcomes.

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