On the final day of 2020, Hoth Therapeutics (HOTH) shares closed above 44% to reach $2.37, and it stayed in green even in the after-hours session.
As a biopharmaceutical company, it announced it had signed a production agreement with Tergus Pharma for HT-001, its new cancer treatment drug.
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This announcement follows the recent news that Hoth has requested an IND meeting with the FDA to discuss a novel treatment development.
HT-001 is a topical formulation formulated explicitly for treating patients with mild to moderate occurrences of rash and dermatological irregularities. EGFR inhibitors are mainly used to treat lung cancer, pancreatic cancer, breast cancer, and colon cancer. EGFR inhibitors have been shown to cause severe skin toxicity, resulting in patients having to interrupt treatment. HT-001 is intended to treat EGFR-induced skin disorders to achieve the best possible outcome of EGFR therapy.