HOTH - Hoth Therapeutics shares more than double in value on preclinical Alzheimer's data
2023-06-06 09:50:13 ET
Shares of micro-cap Hoth Therapeutics ( NASDAQ: HOTH ) on Tuesday more than doubled in value post the opening bell, after the biopharmaceutical firm announced positive preclinical results for its Alzheimer's therapy.
HOTH stock was last up 110.1% to $3.95 in early trade.
The company is developing HT-ALZ, an oral soluble film formulation, for the treatment of Alzheimer's disease and associated symptoms such as dementia. The active pharmaceutical ingredient in HT-ALZ is an already approved drug.
Alzheimer's treatments continue to be a hot topic in health and pharmaceuticals, with many large players and small biotech firms developing therapies.
In a major boost for developers of Alzheimer's disease treatments, the Centers for Medicare & Medicaid Services (CMS) last week said that it would cover those therapies once granted full, traditional approval.
"In particular, the higher dose (of HT-ALZ) appears to be most beneficial in a spatial memory test performed at Washington University in St Louis," HOTH said in Tuesday's statement .
"This recently completed phase of our studies in conjunction with Washington University is a positive step forward and we now will begin processing the brains of the animal subjects for total plaque load and soluble/insoluble beta amyloid levels," HOTH CEO Robb Knie said.
HT-ALZ falls under the class of Alzheimer's treatments that attempt to reduce amyloid ? plaque buildup in the brain, a notable characteristic of the neurodegenerative disease.
HOTH had previously reported initial data from a mouse model showing a significant decrease in amyloid ? plaque in both male and female mice after acute treatment with HT-ALZ.
More on Alzheimer's treatments
- Sen. Wyden presses HHS, CMS on access to new Alzheimer's therapies
- Biogen’s new Alzheimer’s drug to raise annual Medicare costs by up to $5B – study
- Lilly stock surges after Alzheimer's drug donanemab slows cognitive decline by 35%, brain swelling seen in some
For further details see:
Hoth Therapeutics shares more than double in value on preclinical Alzheimer's data