Shares of Hoth Therapeutics Inc. (HOTH) are down 22 percent so far this year, and trade around $5.
It was on February 15, 2019, that Hoth Therapeutics went public on the NASDAQ by setting a public offering at $5.60 per share.
Hoth Therapeutics is developing unique therapeutics for patients suffering from atopic dermatitis, dermatological and chronic wound disorders, psoriasis and acne.
The Company’s pipeline includes topical agent BioLexa for atopic dermatitis and diabetic wounds, VNLG-152 for psoriasis and acne, Z-Pods for lupus, Aprepitant for treating dermatological conditions caused by oncology treatment Erlotonib, and genetic markers for food allergies and eczema.
BioLexa for atopic dermatitis is all set to enter a phase II study in Australia this quarter and is expected to be completed by the end of the second quarter of 2020.
Atopic Dermatitis is a large and growing market, and according to a new report by Grand View Research, the global atopic dermatitis drugs market size is expected to reach $6.41 billion by 2022.
The second indication for which BioLexa is tested is diabetic wounds. According to the New England Journal of Medicine, about 9.1 million to 26.1 million people worldwide are affected by diabetic foot ulcers.
A pilot study of BioLexa in treating diabetic wounds was successfully completed last July. A larger study is currently being planned.
Besides the above two clinical programs, Hoth Therapeutics has a number of compounds in preclinical testing, and some of which are as follows.
— A preclinical study of Aprepitant for dermatological treatment relating to the side effects of cancer medication was initiated in November 2019, in partnership with the George Washington University.
— A preclinical study of a gene therapy program for the treatment of asthma and allergic inflammation in collaboration with North Carolina State University was initiated early this month.
— As recently as February 12, 2020, the Company announced positive preliminary, preclinical data of Anandamide-loaded Z-pods, its lupus treatment for patients suffering from Cutaneous Lupus Erythematous. The study was conducted in partnership with Zylö Therapeutics.
Since its inception, the Company has incurred substantial operating losses, and as of September 30, 2019, it had an accumulated deficit of approximately $8.3 million.
Net loss in the third quarter of 2019 was $1.69 million or $0.17 per share compared to a net loss of $620 thousand or $0.12 per share in the year-ago quarter.
The Company had cash of approximately $3.2 million, marketable securities of roughly $0.8 million, and working capital of about $4.1 million at the end of the third quarter of 2019.
HOTH has thus far hit a low of $3.26 and a high of $13.88. The stock closed Thursday’s trading at $4.99, up 5.72%.
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