Hoth Therapeutics Inc. (NASDAQ:HOTH) is in a range. The company has signed two agreements with SuXi AppTec’s subsidiary STA Pharmaceutical to establish and produce a formulating and active pharmaceutical ingredient of drug product for ongoing development and marketing of HT-KIT.
Trading Data
On Monday, HOTH stock jumped 1% at $1.11 with more than 830k shares, compared to its average volume of 395K shares. The stock has moved within a range of $1.0900 – 1.1300 after opening the trade at $1.09.
Latest News
It is vital to note that HT-KIT is a new molecular entity morpholino oligonucleotide therapy currently under development for mast cell-derived cancers, mast cell leukemia, or systemic mastocytosis with associated hematological neoplasm and anaphylaxis.
The contracts between the companies will accelerate the development of the novel modality therapy with quick and efficient PMO production ramp-up from feasible lots to GMP products. WuXi STA’s proprietary CRDMO novel modality platform offers an end-to-end solution for the oligonucleotide peptide and its conjugates for formulation and API within the same facility. HT-KIT API process formulation for production is already underway, with small yield scale material expected in Q1 2022. So, in the coming weeks, investors should keep an eye on HOTH.
Key Quote
“Initiation of API and drug formulation development is a huge leap towards getting HT-KIT into clinical trials, which is a large focus for Hoth Therapeutics in the next year,” said Dr. Stefanie Johns, PhD, Chief Scientific Officer of Hoth Therapeutics. “We are confident in WuXi STA’s experience in manufacturing morpholino oligonucleotides for clinical and commercial applications to help expedite our program for HT-KIT.”
Technical Data
HOTH stock is trading below the 20-Day and 50-Day Moving averages of $1.12 and $1.19 respectively. Moreover, the stock is trading below 200-Day moving average of $1.58. The stock is down 15% in the past 3-month.
