HOTH - Why Is Hoth Therapeutics (HOTH) Stock Up 24% Today?
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Hoth Therapeutics (NASDAQ:HOTH) stock is rising higher on Monday positive results from a Phase 1 clinical trial of BioLexa.
BioLexa is a treatment in development at Hoth Therapeutics for mild-to-moderate atopic dermatitis in adult patients. The company used the SCORing Atopic Dermatitis (SCORAD) and Eczema Area and Severity Index (EASI) tools to evaluate patients over the course of 28 days.
The results of the study show a more than 50% improvement in 100% of patients over the course of the clinical trial using the EASI scale. When using the SCORAD scale, 60% of patients saw a clinical improvement of at least 35%.
Adding to this, Hoth Therapeutics notes that BioLexa was well tolerated during the study period. The company notes there were no serious adverse events in connection to the clinical trial.
Hoth Therapeutics Has Strong Data for Future Studies
Dr. Jonathan Zippin, Associate Professor of Dermatology and Pharmacology at Weill Medical College of Cornell, and a member of Hoth Therapeutics’ Scientific Advisory Board, said the following about the results.
“I am impressed by these early clinical results showing the efficacy of Biolexa for the treatment of atopic dermatitis. The overall satisfaction of patients while on BioLexa and during follow-up makes me excited for future clinical studies.”
As of this writing, some 2 million shares of HOTH stock are on the move. That’s an impressive jump over its daily average trading volume of about 13,000 shares as investors buy up the stock.
HOTH stock is up 24% as of Monday afternoon.
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