Where Is The Bottom? Hoth Therapeutics Inc (NASDAQ:HOTH) Releases Positive Preclinical Results

Hoth Therapeutics Inc (NASDAQ:HOTH) stock is trading slightly higher in the opening session on Thursday.

Market Action

As of 10:07, HOTH stock gained by 1.63% at $1.55. The stock has traded 486K shares, well below its average volume of 3.30 million shares.  The stock opened at $1.53 and moved in a range of $1.5101 – 1.5600.

Hoth Therapeutics Shares Positive Preclinical Results of Novel HT-KIT Therapeutic

  • announced today that it will share positive results from a preclinical trial during its shareholder presentation, reinforcing the potential of HT-KIT, a new molecular entity under development for treatment of mast cell-derived cancers and anaphylaxis.
  • HT-KIT is an mRNA frame-shifting therapeutic designed to specifically target the receptor tyrosine kinase KIT, which is required for the proliferation, survival and differentiation of bone marrow-derived hematopoietic stem cells. Mutations in the KIT pathway have been associated with several human cancers, such as mast cell-derived cancers, systemic mastocytosis with associated hematologic neoplasm, or mast cell leukemia, gastrointestinal stromal tumors, and acute myeloid leukemia.
  • The preclinical animal trials were conducted using humanized mast cell neoplasm models, representative in vitro and in vivo models for aggressive, mast cell-derived cancers, such as mast cell leukemia and mast cell sarcoma. Key findings of the mouse models found that HT-KIT:

“The results from our HT-KIT preclinical trial further reinforces our belief that targeting mutations in the KIT pathway could be the answer for patients living with mast cell-derived cancers and related conditions,” said Robb Knie, Chief Executive Officer of Hoth Therapeutics. “Our team looks forward to sharing the data that support our findings in greater detail with our shareholders at the presentation on June 3rd.”

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