Hoth Therapeutics, Inc. (HOTH) is a leading novel biotherapeutics company engaged in the development of drug candidates for multiple diseases including atopic dermatitis, psoriasis, acne, asthma, anaphylaxis, pneumonia, and cancers. The company is also in agreement with other companies to treat COVID-19. The pipeline products of the company include HT-001, HT-002, HT-003D, HT-0031B, HT-004, HT-005 and HT-006.
The price of HOTH stock during the regular trading on January 5, 2022, was $1.16 with a significant drop of 10.77%. At last check in the aftermarket, the stock further fell by 2.59%.
HOTH: Events and Happenings
On January 4, 2022, HOTH reported about positive therapeutic potential data of HT-ALZ, generated using a mouse model for Alzheimer’s disease. HT-ALZ is under clinical trials for the treatment of dementia in Alzheimer’s disease. On December 21, 2021, HOTH reported about the submission of a request regarding the grant of Orphan Drug Designation to the FDA for HT-KIT to treat mastocytosis.
On December 8, 2021, HOTH reported about entry into collaboration with Zylö Therapeutics for the licensing of its innovative cannabinoid drug, HT-005 for treating lupus patients. On November 30, 2021, HOTH reported about the commencement of enrollment and dosing for cohort 2 in its preliminary Human trials of BioLexa to treat mild to moderate eczema.
On November 16, 2021, HOTH reported about signing a contract of Sponsored Research with North Carolina State University, thus supporting the continued research and production of HT-KIT used in the treatment of mast cell cancer.
HOTH: Key Financials
On November 10, 2021, HOTH reported its financial results for the third quarter ended September 30, 2021. Some of the updates are as follows
Total Current Assets
Total current assets of the company for Q3 2021 were $14.7 million.
Net Loss per Share
Basic and diluted net loss for Q3 2021 was $3.2 million or $0.14 per share as compared to the same period prior year when it was $2.1 million or $0.16 per share.
On November 8, 2021, HOTH reported about its entry into two agreements with STA Pharmaceutical. As a result of the contracts, the manufacturing and formulation of active pharmaceutical ingredients and lead drugs started for the continuous production and marketing of HT-KIT.
On October 19, 2021, HOTH reported about the extension of its collaboration with REPROCELL to evaluate the impact of the HT-003 therapeutic program for inflammatory bowel disease. On October 12, 2021, HOTH reported about the receipt of clearance from the Human Research Ethics Committee regarding the commencement of second cohort Phase 1b clinical trials of BioLexa.
Conclusion
HOTH stock is 56% up as compared to the past month which depicts the company’s strong investor-based policies. The current dip of the stock in the regular trading, as well as aftermarket, is due to unfavorable market circumstances for the company. The analysts are optimistic that the company will bounce back rapidly in view of its past performance.
