Why Hoth Therapeutics (HOTH) Shares Are Trading Higher Premarket Today?

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The FDA has accepted the Investigational New Drug (IND) application for Hoth Therapeutics Inc's HOTH HT-001 therapeutic for rash and skin disorders associated with epidermal growth factor receptor (EGFR) inhibitor therapy.
EGFR inhibitors are critical therapeutic agents for the treatment of non-small cell lung cancer (NSCLC), pancreatic cancer, colorectal cancer, squamous-cell carcinoma of the head and neck, and breast cancer.
"With no specific treatment currently approved for the treatment of skin toxicities associated with EGFRi therapies, this trial brings us one step closer to a new treatment option for underserved cancer patients," said Robb Knie, CEO of Hoth Therapeutics.
The company expects to begin the Phase 2a trial in Q1 of 2023.
In October, Hoth Therapeutics announced Phase 1b trial data for BioLexa in adult patients with mild-to-moderate atopic dermatitis showing an improvement in disease severity.
Price Action: HOTH shares are up 54.50% at $6.80 during the premarket session on the last check Thursday.