Hoth Therapeutics Inc. (HOTH) shares declined 5.93% in after-hours on Friday, October 8, 2021, and closed the weekly trading at $1.11. However, in the regular trading session of Friday, HOTH’s stock gained 2.61%. HOTH shares have fallen 38.54% over the last 12 months, and they have moved down 0.00% in the past week. Over the past three months, the stock has lost 20.81%, while over the past six months, it has declined 28.92%. Further, the company has a current market of $27.51 million and its outstanding shares stood at 23.70 million.
Let’s see is there any recent news behind its Friday loss?
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HOTH participation in the recent investor conference
Hoth Therapeutics, Inc (HOTH) recently participated at the Benzinga Healthcare Small-Cap Conference which was held on September 29-30, 2021.
SRC review of HOTH BioLexa
On September 21, 2021, a Safety Review Committee (SRC) reviewed the safety data from the Hoth Therapeutics, Inc first cohort of healthy subjects and recommended that the study proceeds to dose patients with mild to moderate atopic dermatitis, also known as eczema.
There were no serious adverse events and no drug-related treatment-emergent adverse events observed during the administration of BioLexa in healthy subjects. Hoth has submitted to the Human Research Ethics Committee (HREC) overseeing the trial to obtain official approval to proceed dosing the patient cohort, based on the recommendations of the SRC.
HOTH BioLexa Cohort 1 Results
On September 8, 2021, Hoth Therapeutics, Inc completed safety results in Cohort 1 of its first in the human clinical trial of the proprietary BioLexa platform to treat atopic dermatitis, also known as eczema.
The healthy subjects receiving twice-daily topical BioLexa for 14 days as a part of a randomized, placebo-controlled trial. The main goal was to evaluate the safety and characterize the pharmacokinetics of topical BioLexa Lotion.
Recent findings of HT-KIT
On August 11, 2021, Hoth Therapeutics, Inc reported the recent findings from North Carolina State University, that its new treatment for mast cell cancers, known as HT-KIT, reduces the number of mast cells by “mutating” the messenger RNA (mRNA) before it can deliver instructions for manufacturing the gene responsible for cell proliferation.
The researchers used their frameshifted c-KIT mRNA approach and found that the cancer cells stopped multiplying and began dying within hours. In a mouse model, tumour growth and infiltration of other organs were reduced, and tumour cell death increased when the frameshifted c-KIT mRNA was induced.
Well, as of this writing, we are unable to find any recent news which could be linked with its after-hours loss on Friday. We can expect it to commence the new week in a positive mode.