Hoth Therapeutics Inc (NASDAQ: HOTH) Announce Positive Results From HT-003 Assets Group

Hoth Therapeutics Inc (NASDAQ: HOTH) announced that the HT-003 assets group had fetched positive results in the therapeutic model for Vivo acne. The model displayed HT-003’s capability in bringing down the expression for receptor 2 (TLR2), which is among the most significant pathways meant for acne pathophysiology. 

About the study results

Additionally, the study underscored HT-003’s capability in bringing down the cytokines’ expression, which is helpful for acne pathophysiology. These are also useful as therapeutic markers which can indicate inflammatory-driven other kinds of skin diseases. HT-003 is a group of those blocking agents which belong to the category of retinoic acid metabolism. These are also the new agents which prevent retinoic acid breakdown. It is retinoic acid that acts as an anti-inflammatory agent in the body. 

Apart from the dermatologic application, the company is also exploring HT-003 assets potentially in other conditions, such as inflammatory bowel disorders. 

Financial performance

The company had also recently reported its first-quarter financial results. The net income in Q1-2021 came in at $4.26 million, a decrease of 133.32% on a year-over-year basis. The company’s operating income is registered at $ -4.27 million for the first quarter of this year. There has been a decrease of 135.02% on a YoY basis. The net change in cash came in at $16.67 million, reflecting a positive increase of 527.13% from a year before. At the end of the first quarter, the company had $19.30 million cash on hand, up 343.79% on a YoY basis. 

About Hoth Therapeutics Inc

Founded in 2017, the company has its headquarters in the United States. Hoth is a clinical-stage biopharmaceutical company focused on developing therapies meant for unmet medical needs. The primary conditions which the company targets include skin toxicities and atopic dermatitis associated with asthma, cancer therapy, psoriasis, acne, chronic wounds, and more. The company has also recently signed key agreements for developing therapeutic prospects for the treatment of COVID-19.