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NEW YORK - Hoth Therapeutics, Inc. (NASDAQ: HOTH), a clinical-stage biopharmaceutical company valued at $8.1 million and showing a remarkable 56% gain year-to-date according to InvestingPro, announced on Tuesday significant preclinical results for its novel targeted therapy HT-KIT in treating gastrointestinal stromal tumors (GIST). The study demonstrated a considerable reduction in tumor growth and KIT protein expression, which is often associated with GIST progression.
The preclinical data showed that HT-KIT could induce tumor cell death within 24 hours of treatment and substantially reduce tumor cell proliferation. In humanized mouse models, HT-KIT treatment resulted in marked reductions in tumor volume, with statistically significant differences observed from the eighth day of treatment. The company maintains a strong financial position with a current ratio of 10.16, indicating robust liquidity to support its research initiatives.
Robb Knie, CEO of Hoth Therapeutics, expressed that these findings represent a crucial step in developing HT-KIT as a potential new therapeutic for patients with GIST. He highlighted the drug’s ability to target KIT mutations, a key driver of GIST, and its demonstrated preclinical efficacy.
GIST is a type of cancer that can be aggressive and is often driven by mutations in the KIT receptor. Existing treatments, such as tyrosine kinase inhibitors, sometimes face resistance, leading to disease progression. HT-KIT’s approach disrupts KIT signaling pathways, potentially offering a new strategy for treating KIT-driven malignancies.
Hoth Therapeutics is preparing for further preclinical studies to validate HT-KIT’s efficacy and safety. The company plans to initiate discussions with regulatory bodies for first-in-human trials. With analyst price targets ranging from $4 to $5 per share, the market appears optimistic about the company’s potential. For deeper insights into Hoth’s financial health and additional analysis, including 7 more exclusive ProTips, visit InvestingPro. This announcement is based on a press release statement from Hoth Therapeutics.
In other recent news, Hoth Therapeutics, Inc. has reported promising clinical findings for its therapeutic candidate, HT-001, which showed effectiveness in treating skin toxicities associated with cancer treatments. The company plans to submit an application for Expanded Access to make HT-001 available to patients with serious conditions who have no other options. Additionally, Hoth Therapeutics has expanded its intellectual property portfolio by acquiring new patent applications related to HT-001, aiming to enhance the drug’s efficacy and applicability. In a separate development, Hoth Therapeutics announced the expansion of its at-the-market offering by $5 million, providing financial flexibility to advance its product pipeline. The company has also released preclinical study results indicating that Glial Cell Line-Derived Neurotrophic Factor (GDNF) could be a promising treatment for obesity, demonstrating significant reductions in fat accumulation and improved metabolic health in mice models. These recent developments highlight Hoth Therapeutics’ ongoing efforts to address unmet medical needs and improve patient outcomes.
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