Home Top Movers Hoth Therapeutics, Inc. (HOTH) Stock Poised to Surge Pending Orphan Drug Designation...

Hoth Therapeutics, Inc. (HOTH) Stock Poised to Surge Pending Orphan Drug Designation Approval

Hoth Therapeutics, Inc. (HOTH) stock prices were up by 6.43% as of the market closing on May 21st, 2021, bringing the price per share up to USD$1.49 at the end of the trading day. Subsequent pre-market fluctuations saw the price fall by a marginal 2.68%, bringing it down to USD$1.45.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

HT-KIT

HOTH announced early in May that it intended to pursue the development of its proprietary HT-KIT mRNA Frame Shifting Therapeutic for various orphan diseases. A disease qualifies as an orphan disease if they are rare enough to affect less than 200,000 people within the United States. The HT-KIT is designed to target a shared cell signaling pathway and could have therapeutic potential for various diseases. Of the ailments potentially benefitting from HT-KIT are rare cancers such as aggressive systemic mastocytosis, mast cell leukemia, acute myeloid leukemia, and gastrointestinal stromal tumors.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

Orphan Drug Designation

Treatments which focus on orphan diseases are eligible to apply for Orphan Drug Designation (ODD), which serves to facilitate the development of drugs for illnesses that don’t have the numerical scope of others. An ODD provides multiple benefits to the sponsor both during the development process and after approval. HOTH is actively pursuing an Orphan Drug Designation as a part of the development of its HT-KIT for the treatment of rare cancers.

Benefits of ODD

With an ODD, pharmaceutical companies are granted exclusive marketing and developmental rights, along with other benefits to recoup expenses incurred as a result of the research and development of the drug in question. As further incentive, a tax credit of 50% of the qualified costs of clinical drug testing is possible to be awarded upon approval of the drug being developed.

FDA’s ODD Provisions

The FDA offers regulatory streamlining and the provision of special assistance to companies working with an ODD, in addition to the exclusive rights and cost benefits. The FDA also provides protocol assistance, possibly lower wait times for drug approval, discounts on registration fees, and eligibility for market exclusivity after approval. Upon approval, an ODD could result in 7 years of exclusivity, and in the process of getting that approval, application fees for New Drug Applications and Biologics License Application are waived.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Future Outlook for HOTH

With resources being allocated towards an ODD designation, the development and commercialization of HT-KIT could prove significantly more lucrative than without such a designation. The company is keen to fast-track the process so it can allocate the resources from savings and recovery of costs back into the development of the company. Current and potential investors are hopeful for continued growth and sustained and significant increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Related News

Edesa Biotech Inc. (EDSA) stock surged during current market trading. Here’s to know why?

Edesa Biotech Inc. (NASDAQ: EDSA) stock gained by 4.22% in the current market trading. Edesa Biotech is a clinical-stage biopharmaceutical business dedicated on the...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Cleveland BioLabs Inc. (CBLI) stock surged during after-hour session. Here’s what’s happening?

Cleveland BioLabs Inc. (NASDAQ: CBLI) stock declined by 3.58% at the last close while the CBLI stock price gains by 17.53% during the after-hour...

Why Ares Commercial Real Estate Corp (ACRE) stock plummeted on Thursday?

Ares Commercial Real Estate Corporation (ACRE) shares slipped 4.35% in after-hours on Thursday, June 17, 2021, and close the trading at $15.60. Earlier, ACRE's...

Nano-X Imaging Ltd. (NNOX) stock gained in the current market trading. Here’s to know why?

Nano-X Imaging Ltd. (NASDAQ: NNOX) stock gained by 14.90% in the current market trading. Nanox which is an Israeli company started by serial entrepreneur...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam