Hoth Therapeutics’ Stock Triples On Promising Cancer Trial Data for Skin Toxicity Therapy: Retail’s Excited
By Stocktwits Inc | First Published Jan 8, 2025, 1:34 AM ISTThe trial achieved a 100% success rate for its primary efficacy endpoint, with all patients showing significant improvement in skin toxicities within six weeks.
Hoth Therapeutics Inc., a micro-cap biotech company, saw its stock price surge over 200% on Tuesday to become the top gainer across U.S. exchanges.
Trading volume skyrocketed to 665 times its daily average, driven by positive interim data from its Phase 2a trial of HT-001, a therapy targeting skin toxicities caused by epidermal growth factor receptor (EGFR) inhibitors in cancer patients.
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The trial achieved a 100% success rate for its primary efficacy endpoint, with all patients showing significant improvement in skin toxicities within six weeks.
Additionally, 66% of patients reported reduced pain and itching, improving their quality of life without any treatment-related adverse effects, the company said.
CEO Robb Knie described the results as a “significant milestone,” emphasizing the potential of HT-001 to alleviate debilitating skin conditions while enabling patients to continue life-saving cancer treatments.
D. Boral Capital echoed this optimism, highlighting the therapy’s potential to revolutionize care for patients enduring severe side effects from cancer treatments.
The brokerage reiterated its ‘Buy’ rating and maintained a $5 price target on Hoth’s shares, implying a near doubling from current levels.
Retail investors on Stocktwits rallied behind the news, with chatter indicating overwhelmingly bullish commentary.
One user predicted a further surge to $10, urging users to “buy cheap now.”
Another emphasized the company’s strong position, pointing out its debt-free status and cash reserves.
Hoth’s pipeline includes therapies for dermatological disorders such as eczema, psoriasis, chronic wounds, and acne.
The company’s stock has gained nearly 80% over the past year.
The successful Phase 2a trial positions Hoth to attract interest from larger players in the oncology and dermatology sectors.
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