Hoth Therapeutics, Inc. (HOTH) a biotech Stock trading under $3 just went 46% high on massive volume. HOTH reported this morning that it has reached agreement with Tergus Pharma on the production of HT-001 based on GLP and GMP principles.
The HT-001 topical formulation is designed to cure patients with mild to moderate skin disorders associated with initial and recurrent tyrosinase inhibitor therapy. The EGFR inhibitor is used to treat patients.
That is not all
HOTH also reported last week that the company submitted a request for a Pre-Investigational New Drug (IND) meeting to the U.S. Food and Drug Administration (FDA) to discuss HT-001, an epidermal growth factor receptor inhibitor being used to treat rash and skin problems in patients following EGFR inhibitor therapy. EGFR inhibitors have an important therapeutic role in the treatment of non-small cell lung cancer (NSCLC), pancreatic cancer, colorectal cancer, squamous cell carcinoma.
Cancer patients receiving EGFR inhibitor therapy are often required to undergo more than one treatment cycle to achieve effective cancer treatment, and up to 50 per cent of patients experience significant dermatological side effects within the first two weeks of treatment that may persist even after the EGFR therapy is stopped. Skin toxicity may result in patients receiving fewer EGFR inhibitors or discontinuing their treatment. HT-001 is intended to treat EGFR-induced skin disorders.
On Wall Street, Hoth Therapeutics Inc. [NASDAQ:HOTH] is currently trading at price of $2.43. The 50-day SMA achieved is $1.7364 while the 200-day SMA is $2.5039. Volume gained to 101.15 million from 0.35 million in the previous session.