Hoth Therapeutics Plunges Afterhours On Secondary Public Offering Of Common Stock

Hoth Therapeutics Inc HOTH says it has commenced an underwritten public offering. Details were not disclosed.
The company's proposed offering of the common stock is being offered under a "shelf" registration statement on Form S-3 filed with SEC and declared effective by the SEC on March 11, 2020.
A prospectus supplement describing the terms of the public offering will be filed with the SEC.
During the market session, the Hoth Therapeutics shares surged more than 100% after the company announced development updates for its novel cancer therapeutic, HT-KIT.
Related: Why Are Hoth Therapeutics Shares Surging More Than 100% Today?
Price Action: HOTH shares are trading lower by 13.29% at $0.91 during the post-market session on Monday.