Hoth Therapeutics (HOTH) denied market rumors on Wednesday regarding plans to raise fresh capital.
The company said it has no plans for a public or private offering at this time. It also said it had over $10 million in cash and no debt -- enough funding to execute its strategic initiatives and advance its pipeline.
The company added that enrollment in the clinical trial of its lead therapeutic candidate HT-001 to treat rash and skin disorders associated with cancer therapy is "proceeding as planned."
Hoth Therapeutics shares were up more than 8% in recent trading.
Price: 2.48, Change: +0.20, Percent Change: +8.55
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.