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Hoth Therapeutics (NASDAQ:HOTH) shares rose by a staggering 215% today following significant breakthrough in cancer treatment.
Their Phase 2a clinical trial of Hoth's topical gel HT-001 has shown 100% success in combating skin toxicities caused by Epidermal Growth Factor Receptor Inhibitors (EGFRi) in cancer patients. This means that patients can continue receive their complete dosage of cancer treatment without suffering from skin debilitating side effects.
HT-001 is a topical gel developed by Hoth Therapeutics, applied directly to the skin, scalp or nails to alleviate the toxic side effects associated with Epidermal Growth Factor Receptor Inhibitors (EGFRi) used in cancer therapy.
Cancer treatments such as chemotherapy and radiation therapy often times cause skin damage including redness, rashes, dryness, peeling, itching to changes in skin color and even led to sores and infections. And the results of Hoth's Phase 2 clinical trial demonstrated 100% efficacy in eliminating skin toxicity associated with cancer treatments.
Hoth Therapeutics has super strong financial backup from its investors that fully support its operations for years since inception in 2017. So, even though Hoth Therapeutics hasn't generated revenues yet, they can still actively involve in clinical trials and numerous research without promising their financial by barely taking debts.
HT-001 is one of its promising products. They have other therapeutic candidates in their pipeline, such as HT-KIT for mast-cell derived cancers and HT-ALZ for Alzheimer's disease.
With positive trial results of its product, Hoth is one step closer to generate income and potentially being profitable.
This article first appeared on GuruFocus.