Why Is Hoth Therapeutics (HOTH) Stock Up 83% Today?


  • Hoth Therapeutics (HOTH) stock is taking off thanks to positive preclinical trial news.
  • This comes from the company’s Alzheimer’s disease treatment candidate.
  • That has investors piling into HOTH stock and sending shares higher today.
HOTH Stock - Why Is Hoth Therapeutics (HOTH) Stock Up 83% Today?

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Hoth Therapeutics (NASDAQ:HOTH) stock is rocketing higher on Tuesday thanks to the company announcing positive results from a preclinical trial.

According to a Hoth Therapeutics press release, these results come from its study of HT-ALZ as a treatment for Alzheimer’s disease. The company saw positive preclinical results that were better than its prior study. That includes a higher dose of HT-ALZ resulting in benefits in a spatial memory test.

Robb Knie, CEO of Hoth Therapeutics, said the following about the preclinical trial results in a news release:

“This recently completed phase of our studies in conjunction with Washington University is a positive step forward and we now will begin processing the brains of the animal subjects for total plaque load and soluble/insoluble beta amyloid levels.”

What This Means for HOTH Stock

Several companies are racing to discover effective treatments for Alzheimer’s disease. With this latest news, Hoth Therapeutics is exciting investors about its potential to be among those that succeed in treating the cognitive disease.

This could be a major benefit to HOTH stock if it’s treatment gets approval down the line. That means some investors are going to jump in early in an attempt to get the most out of potential future rallies.

As a result of this news, shares of HOTH stock are seeing heavy trading today as investors buy stakes in the company. That has more than 73 million shares changing hands as of this writing. This is a massive gain compared to its daily average trading volume of about 232,000 shares.

HOTH stock is up 83% as of Tuesday morning. However, shares are still down 47.5% since the start of the year.

Investors on the lookout for all of the most important stock market news today are in the right place!

InvestorPlace has all of the biggest stock market stories traders will want to read about on Tuesday! A few examples of these include what’s moving shares of Tingo Group (NASDAQ:TIO) stock, McCormick (NYSE:MKC) stock and Coinbase (NASDAQ:COIN) stock today. All of that is ready to go at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/why-is-hoth-therapeutics-hoth-stock-up-83-today/.

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