Hoth Therapeutics (NASDAQ:HOTH) stock is on the move Wednesday after the clinical-stage biopharmaceutical company announced a new partnership with LTS Therapy Systems.
This partnership involves the two companies working together to accelerate the development of Hoth Therapeutics’ candidate for Alzheimer’s disease, HT-ALZ. The treatment is currently pre-clinical, and data suggest it can restore cognitive functions and improve the quality of life for Alzheimer’s patients.
The agreement with LTS Therapy Systems will allow it to handle the production of the HT-ALZoral film prototype. This will aid Hoth Therapeutics as it seeks a future Investigational New Drug (IND) Application for clinical trials of the drug.
Hoth Therapeutics CEo Robb Knie said the following about this agreement:
“Hoth is excited to announce this partnership and the next milestone in our development of HT-ALZ. We are leveraging LTS’s expertise to develop and manufacture the oral film prototypes needed for this particular population and leveraging our positive preclinical results to advance our Alzheimer’s therapeutic.”
How This Affects HOTH Stock
New Alzheimer’s treatments are a hot topic right now and this has traders taking notice of HOTH stock today. With that comes heavy trading as some 30 million shares change hands. That’s well above the company’s daily average trading volume of about 98,000 shares.
HOTH stock is down 2.9% as of Wednesday morning after rallying earlier today.
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On the date of publication, William White did not have (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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
