By Josh Beckerman
Shares of Hoth Therapeutics rebounded after the company said it has no plans for a public or private offering at this time.
Hoth stock was recently up 4.6%, at $2.38, in midday trading Wednesday, after falling sharply to a low point of $1.17 from a 52-week high Tuesday. The stock closed up 178%, to $2.28, on Tuesday, after the company reported favorable interim results from a clinical trial.
The company said it was responding to market rumors and shareholder inquiries. It also said enrollment in a clinical trial of HT-001, its lead drug candidate, is proceeding as planned, with all trial sites now active and enrolling participants. HT-001 is designed to treat rash and skin disorders associated with cancer therapy.
"Hoth's financial position remains robust, with a strong balance sheet that includes over $10 million in cash and no debt," the company said.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 08, 2025 14:44 ET (19:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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