Hoth Therapeutics Doubles After Tests Show Cancer Trial Drug Is Effective

DIMCO
2022-04-12

$Hoth Therapeutics(HOTH)$ Resource:Finance Yahoo

By Geoffrey Smith

Hoth Therapeutics (NASDAQ:HOTH) stock more than doubled in early trade after the biotech startup said that its experimental cancer treatment HT-KIT had appeared successful in killing cancerous cells and stopping tumor growth in a preclinical study.

HT-KIT is a new molecular entity under development for treatment of mast cell-derived cancers and anaphylaxis. It has already been awarded Orphan Drug status, which will guarantee the company tax credits for clinical costs, exemptions from certain FDA fees, and seven years of patent protection if it is formally approved for use.

HT-KIT is a treatment based on messenger RNA, the same technology that is behind the COVID-19 vaccines of Moderna (NASDAQ:MRNA) and Pfizer (NYSE:PFE).

The company said that research conducted jointly with North Carolina State University showed HT-KIT can kill cancer cells and inhibit their growth within 72 hours, reducing the likelihood of tumors spreading to other organs in the body.

"With our HT-KIT drug, we are flipping off a key cancer signal that's involved in multiple aggressive cancers, such as systemic mastocytosis, mast cell leukemia, gastrointestinal stromal tumors, and acute myeloid leukemia," CEO Robb Knie said in a statement.

He noted that the next round of preclinical studies for the drug has already started and that the company plans to brief the Food and Drug Administration on their results in the course of this year.

Hoth has already completed a manufacturing feasibility study for the drug together with China-based WuXi STA.

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Comments

  • mark01bravz
    2022-04-18
    mark01bravz
    The biotech space is a very complicated and competitive areas. we will have more and more biotech companies reporting more breakthroughs. for me it is better to invest in etf for biotech.
  • Shyon
    2022-04-18
    Shyon
    Will you invest it?
  • Ztradee
    2022-04-18
    Ztradee
    Hopefully this is not another hype but a bona fide claim. Millions of lives can be saved.
  • procenna
    2022-04-18
    procenna
    let's see
  • ElvisLHS
    2022-04-19
    ElvisLHS
    thanks for sharing
  • Blessedme
    2022-04-19
    Blessedme
    Good news
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