The Company affirms that it has no
plans for a public or private offering at this time.
Hoth's financial position remains robust,
with a strong balance sheet that includes over $10 million in cash and no debt.
Hoth is pleased to report that enrollment
in the HT-001 clinical trial is proceeding as planned,
with all trial sites now active and enrolling
participants.
NEW
YORK, Jan. 8, 2025 /PRNewswire/ -- Hoth
Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company
focused on developing innovative, patient-focused treatments, today
responded to recent market rumors and inquiries from shareholders
regarding its financial plans and ongoing clinical trials.
The Company affirms that it has no plans for a public or
private offering at this time. Hoth's financial position
remains robust, with a strong balance sheet that includes over
$10 million in cash and no debt.
This fiscal strength positions the Company well to execute its
strategic initiatives and advance its pipeline without the
immediate need for additional financing.
"We want to assure our shareholders that Hoth remains focused on
creating long-term value and advancing our clinical programs," said
Robb Knie, Chief Executive Officer
of Hoth Therapeutics. "With our strong financial foundation, we are
well-equipped to continue progressing our innovative
therapies."
The Company also provided an update on the clinical development
of HT-001, its lead therapeutic candidate designed to treat
rash and skin disorders associated with cancer therapy. Hoth is
pleased to report that enrollment in the HT-001 clinical trial is
proceeding as planned, with all trial sites now active and
enrolling participants.
"Activating all trial sites for HT-001 marks a significant
milestone in the development of this promising therapy,"
Robb Knie added. "We are excited
about the progress and remain committed to addressing unmet needs
for patients undergoing cancer treatment."
Hoth remains dedicated to transparency and will continue to
provide updates as material developments occur.
About Hoth Therapeutics, Inc.
Hoth Therapeutics is a clinical-stage biopharmaceutical company
dedicated to developing innovative, impactful, and ground-breaking
treatments with a goal to improve patient quality of life. We are a
catalyst in early-stage pharmaceutical research and development,
elevating drugs from the bench to pre-clinical and clinical
testing. Utilizing a patient-centric approach, we collaborate and
partner with a team of scientists, clinicians, and key opinion
leaders to seek out and investigate therapeutics that hold immense
potential to create breakthroughs and diversify treatment options.
To learn more, please visit
https://ir.hoththerapeutics.com/ .
Forward-Looking Statement
This press release includes forward-looking statements based
upon Hoth's current expectations, which may
constitute forward-looking statements for the purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995 and other federal securities laws, and are subject to
substantial risks, uncertainties, and assumptions. These statements
concern Hoth's business strategies; the timing of regulatory
submissions; the ability to obtain and maintain regulatory approval
of existing product candidates and any other product candidates we
may develop, and the labeling under any approval we may obtain; the
timing and costs of clinical trials, and the timing and costs of
other expenses; market acceptance of our products; the ultimate
impact of the current coronavirus pandemic, or any other health
epidemic, on our business, our clinical trials, our research
programs, healthcare systems, or the global economy as a whole; our
intellectual property; our reliance on third-party organizations;
our competitive position; our industry environment; our anticipated
financial and operating results, including anticipated sources of
revenues; our assumptions regarding the size of the available
market, benefits of our products, product pricing, and timing of
product launches; management's expectation with respect to future
acquisitions; statements regarding our goals, intentions, plans,
and expectations, including the introduction of new products and
markets; and our cash needs and financing plans. There are a number
of factors that could cause actual events to differ materially from
those indicated by such forward-looking statements. You should not
place reliance on these forward-looking statements, which include
words such as "could," "believe," "anticipate," "intend,"
"estimate," "expect," "may," "continue," "predict," "potential,"
"project" or similar terms, variations of such terms, or the
negative of those terms. Although the Company believes that the
expectations reflected in the forward-looking statements are
reasonable, the Company cannot guarantee such outcomes. Hoth
may not realize its expectations, and its beliefs may not prove
correct. Actual results may differ materially from those indicated
by these forward-looking statements as a result of various
important factors, including, without limitation, market conditions
and the factors described in the section titled "Risk Factors"
in Hoth's most recent Annual Report on Form 10-K and Hoth's
other filings made with the U. S. Securities and Exchange
Commission. All such statements speak only as of the date made.
Consequently, forward-looking statements should be regarded solely
as Hoth's current plans, estimates, and beliefs. Investors should
not place undue reliance on forward-looking statements. Hoth cannot
guarantee future results, events, levels of activity, performance,
or achievements. Hoth does not undertake and specifically declines
any obligation to update, republish, or revise any forward-looking
statements to reflect new information, future events, or
circumstances or to reflect the occurrences of unanticipated
events, except as may be required by applicable law.
Investor Contact:
LR Advisors LLC
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678) 570-6791
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hoth-therapeutics-responds-to-market-rumors-and-shareholder-inquiries-302346186.html
SOURCE Hoth Therapeutics, Inc.
