Home Trending Stocks What Is Driving the HOTH Stock Up?

What Is Driving the HOTH Stock Up?

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.

Further plans:

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.

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