Why Hoth Therapeutics Shares Are Rising

Hoth Therapeutics Inc HOTH shares are trading higher by 125.5% at $1.38 after the company said its mRNA frame-shifting therapeutic proved effective against aggressive cancer cells.

Hoth says treatment with HT-KIT prevented cancer cell growth and induced death in neoplastic mast cells over 72 hours. According to Hoth, HT-KIT also inhibits tumor growth and systemic organ infiltration using both an allograft mastocytosis model and a humanized xenograft MC tumor model.

Hoth noted that Orphan Drug status has been granted to the therapeutic, successfully completed API manufacturing feasibility. Hoth says the company has filed several patent applications to protect this IP throughout the world.  

"With our HT-KIT drug, we are flipping off a key cancer signal that's involved in multiple aggressive cancers, such as systemic mastocytosis, mast cell leukemia, gastrointestinal stromal tumors and acute myeloid leukemia. Our approach avoids pitfalls related to KIT mutations by targeting mRNA. Our next round of preclinical studies are underway and we are excited to utilize the results for our planned Pre-IND meeting with FDA later this year," stated Robb Knie, Chief Executive Officer of Hoth.

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Hoth Therapeutics is a development-stage biopharmaceutical company. 

Hoth Therapeutics has a 52-week high of $2.20 and a 52-week low of $0.48.