As of the last check, shares of Hoth Therapeutics Inc. (HOTH) were trading up 23.28% to $1.80 in the current market. HOTH’s stock closed at $1.46 on Monday. The daily volume stayed at 13.37 million shares, which was above the average volume of 4.48 million shares during the past 50 days.
The HOTH shares have fallen by -12.05% this week, and they have fallen by -33.64% in the last three months. Furthermore, HOTH has an outstanding share count of 13.45 million, with a current market value of $34.56 million. After encouraging results for its anti-cancer therapy, HOTH stock has been climbing this morning.
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What were the findings?
In humanized mast cell models (representative of aggressive mast cell-derived cancers such as mast cell leukemia and mast cell sarcoma), Hoth Therapeutics announced today that its novel anti-cancer therapeutic had highly promising in vitro and in vivo results.
- The anti-cancer drug is in the development stage, and it works by inducing apoptosis in neoplastic mast cells by frame shifting the mRNA.
- It has been shown that this novel anti-cancer agent rapidly triggers apoptosis and cell death of neoplastic mast cells.
- In addition, systemic administration of the anti-cancer therapeutic reduced the tumor burden and neoplastic mast cell infiltration in humanized mast cell tumor models compared to the vehicle control group.
- None of the study animals showed obvious signs of toxicity, indicating that the new anticancer therapeutic was well tolerated.
The data put together support the use of this targeted, anti-cancer therapeutic drug against mast cell related cancers. HOTH plans to bring its innovative therapy to the clinic as quickly as possible.