Hoth Therapeutics (HOTH) said Thursday that it entered into an exclusive patent license agreement with the US Department of Veterans Affairs to develop obesity treatment.

The deal also gives Hoth the rights to a patent co-developed by the department and Emory University, the company said.

Financial details weren't provided.

The technology uses the Glial Cell Line-Derived Neurotrophic Factor to treat obesity and related health conditions. The agreement includes a detailed development plan to guide the technology from research to commercialization, with the goal of making it widely accessible, the company said.

Shares of Hoth fell 6.3% in recent trading.

Price: 0.74, Change: -0.05, Percent Change: -6.30