HOTH Stock: The News That Has Biopharma Hoth Therapeutics Shooting Higher Today

Shares of Hoth Therapeutics (NASDAQ:HOTH) stock are skyrocketing on Tuesday following positive preclinical results from the firm’s novel coronavirus treatment.

A needle rests on a reflective table next two clear glass vials of a clear liquid.

Source: Shutterstock

Hoth said that HT-002, its leading peptide candidate for coronavirus treatment, “was shown to inhibit 50% of the cytopathic effect (CPE) of the SARS-CoV-2 virus at 61.7 µM (the EC50).” Additionally, there was no cytotoxicity present in concentrations up to 200 µM of HT-002 — meaning it is a promising COVID-19 therapeutic at various dilutions.

“We are encouraged by these extremely positive in vitro results supporting that HT-002’s novel peptide could provide substantial antiviral activity against SARS-CoV-2,” Dr. Stefanie Johns, Chief Scientific Officer of Hoth Therapeutics, said. “This data supports that HT-002 has the potential to be developed as a novel therapeutic to both prevent and treat COVID-19.”

Furthermore, according to the release, Hoth plans on moving forward with HT-002 by pursuing further preclinical animal studies.

HOTH stock was up 22.9% as of Tuesday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick Clarkson is a web editor at InvestorPlace.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC