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NEW YORK - Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company with a market capitalization of $7.18 million, has announced the filing of amended claims with the U.S. Patent and Trademark Office to strengthen the intellectual property protection for its lead antisense oligonucleotide (ASO) drug candidate, HT-KIT. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet. The company has refined claims targeting genes MS4A6A and FcεRIβ, which are implicated in allergic inflammation and mast cell-related diseases.
In addition to the patent filing, Hoth has initiated a Good Laboratory Practice (GLP)-compliant 4-week intravenous toxicity study in mice, with a 14-day recovery period, to evaluate the safety profile of HT-KIT. This preclinical study is being conducted in partnership with OnTargetx R&D Inc. and ITR Laboratories and will include multiple dose groups, detailed pathology assessments, and pharmacokinetic profiling.
Robb Knie, CEO of Hoth Therapeutics, stated that these milestones are significant as the company moves toward clinical readiness. He emphasized that the strengthened patent position and the robust preclinical package will be instrumental as the company explores partnerships and regulatory discussions. The company’s stock has shown strong momentum, with a 39% year-to-date return, though InvestingPro analysis indicates high price volatility. Get access to 5 more exclusive ProTips and comprehensive financial metrics with an InvestingPro subscription.
Hoth Therapeutics is actively conducting additional preclinical studies to further validate the efficacy and safety of HT-KIT, with plans to initiate discussions with regulatory authorities regarding first-in-human trials.
The company is focused on developing therapies for allergic and inflammatory diseases and is dedicated to advancing early-stage pharmaceutical research through to clinical testing. While analysts have set price targets between $4-$5, suggesting significant upside potential, they do not anticipate profitability this year. The company maintains a healthy liquidity position with a current ratio of 10.16, indicating strong ability to meet short-term obligations.
This article is based on a press release statement from Hoth Therapeutics, Inc. Investors are cautioned that forward-looking statements involve risks and uncertainties and are only predictions. Actual events or results may differ materially due to various factors, including market conditions and the risks outlined in Hoth’s most recent Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission.
In other recent news, Hoth Therapeutics, Inc. has reported significant preclinical results for its novel therapy HT-KIT, showing potential in treating gastrointestinal stromal tumors by reducing tumor growth and KIT protein expression. The company is preparing for further preclinical studies and discussions with regulatory bodies for first-in-human trials. Additionally, Hoth Therapeutics plans to submit an Expanded Access application for HT-001, a treatment for skin conditions caused by cancer therapies, aiming to make it available to patients with limited alternatives. Positive clinical findings were reported for HT-001, demonstrating its efficacy in resolving skin lesions in a patient with metastatic breast cancer. Hoth Therapeutics also announced promising preclinical results for GDNF, suggesting its potential as an obesity treatment by reducing fat accumulation and enhancing metabolic processes. In financial developments, the company expanded its at-the-market offering by $5 million, enhancing its financial flexibility to advance its product pipeline. This expansion is part of Hoth Therapeutics’ broader efforts to secure funding for its operations and strategic initiatives.
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