Hoth Therapeutics (NASDAQ: HOTH) stock surged over 80% during intraday trading after securing approval for the first-in-human Phase 2a clinical trial of HT-001.
Hoth Therapeutics (NASDAQ: HOTH), a biopharmaceutical company, recently announced it has received Institutional Review Board (IRB) approval from Montefiore Medical Center and Dana-Farber Cancer Institute to move forward with its First-in-Human (FIH) Phase 2a clinical trial of HT-001. This treatment aims to treat skin toxicities associated with Epidermal Growth Factor Receptor Inhibitors (EGFRi).
Robb Knie, CEO of Hoth Therapeutics, expressed optimism, stating,
“We are very pleased to have received approval from these two world-class medical centers for our FIH clinical trial. We are hopeful that this trial will successfully deliver HT-001 and offer relief to cancer patients suffering from skin toxicities linked to EGFRi treatments.”
He also noted that the company ended the previous quarter with over $9 million in cash and has no plans to raise additional capital in 2024.
The Phase 2a trial will be a dose-ranging study and explore the efficacy, safety, and tolerability of topical HT-001 for treating EGFRi-related skin toxicities.
Hoth Therapeutics (NASDAQ: HOTH) Stock Reaction
HOTH stock surged 81.39% on Thursday, closing at $1.26, marking a 78.22% increase for the week. The trading volume was 165,218,134 shares, significantly higher than the average daily volume of 800.08K.
