Hoth Therapeutics Stock (HOTH:NSD) Analysis:
Last Closing Price: $4.00
Hoth Therapeutics (HOTH:NSD) announced on Thursday that it has submitted an investigational new drug (IND) application for its drug candidate HT-001 to the U.S. Food and Drug Administration.
The IND is a potential indication of epidermal growth factor receptor inhibitor therapy for the treatment of rashes and skin problems.
These inhibitors are used to treat a variety of cancers, such as non-small cell lung cancer, pancreatic cancer, and colorectal cancer.
If the IND is granted, HOTH may launch a clinical trial for cancer patients as early as the first quarter of 2023.
The business also acknowledged that the FDA may want additional information.
In late afternoon trade, HOTH Therapeutics stock dropped 4.1% to $3.91.
About Hoth Therapeutics Inc. (HOTH:NSD):
Hoth Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs.
It is involved in the development of HT-001, a topical formulation for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-ALZ for the treatment and/or prevention of Alzheimer’s or other neuroinflammatory diseases; HT-003 to treat inflammatory bowel diseases, as well as acne and psoriasis; HT-004 for treatment of asthma and allergies using inhalational administration; HT-006 to treat lung diseases resulting from bacterial infections; and HT-002, a novel peptide for treating COVID-19.
The company is also developing BioLexa Platform, a proprietary, patented, drug compound platform which is in phase I clinical trial for the treatment of eczema; and HT-005 for treating patients with lupus. The company has license agreements with the George Washington University; the University of Maryland; Isoprene Pharmaceuticals, Inc.; the North Carolina State University; Chelexa BioSciences, Inc.; Zylö Therapeutics, Inc., and the University of Cincinnati.
It also has a research collaboration agreement with Weill Cornell Medicine to develop HT-003. Hoth Therapeutics, Inc. was incorporated in 2017 and is headquartered in New York, New York.