Is The Rally Real? Hoth Therapeutics Inc (NASDAQ:HOTH) Announces Sponsored Research Agreement

Hoth Therapeutics Inc (NASDAQ:HOTH) is trading slightly lower in the pre-market session after soaring 28% in the past 4 weeks.

Market Reaction

As of 7:11, HOTH stock is down by 2 cent or 1.15% to trade at $1.73. So far more than 30K shares have exchanged hands.

Major Trigger:

Hoth Therapeutics Announces Sponsored Research Agreement with Washington University for Novel Alzheimer’s Therapeutic HT-ALZ

Key Highlights:

  • announced that it has entered into a Sponsored Research Agreement with Washington University in St. Louis to support the continued research and development of HT-ALZ, a novel therapeutic for the treatment of symptoms related to Alzheimer’s disease.
  • The research will be led by Carla Yuede, PhD, Associate Professor of Psychiatry, and John Cirrito, PhD, Associate Professor of Neurology, at Washington University School of Medicine. Dr. Cirrito’s research has been focused on the relationship between synaptic activity and amyloid-beta metabolism in Alzheimer’s disease.
  • Amyloid-beta (Abeta) peptide accumulation within the brain extracellular space, as toxic oligomers and plaques, is strongly believed to be the primary cause of Alzheimer’s disease. Dr. Yuede’s research is primarily focused on the factors influencing cognitive function and brain Aß dynamics in mouse models of Alzheimer’s Disease, particularly in relation to synaptic activity.

Key Quotes

“We are pleased to expand our work in the Alzheimer’s disease space through our partnership with Dr. John Cirrito, Dr. Carla Yuede, and Washington University,” said Robb Knie, Chief Executive Officer of Hoth Therapeutics, Inc. “Our focus remains on bringing innovative and novel therapeutics through development to address unmet patient needs and drive shareholder value, and we are excited about the potential impact of HT-ALZ on the treatment of Alzheimer’s disease and all of those affected by it.”

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