Hoth Therapeutics Inc (NASDAQ: HOTH) is pleased to announce its Cohort 1 results. This trial happens to be the first time this patient-focused Biopharmaceutical Company is engaging in a clinical trial focused on eczema treatment.
Focusing on the results
The other name for the condition mentioned above is atopic dermatitis. It believes that the outcomes from the proprietary BioLexa platform will mark new dawn towards the development of working products to help persons struggling with eczema.
The trial involved the administration of BioLexa twice a day in an exercise spanning 14 days to the first ten subjects. Hoth Therapeutics Inc reveals details about the product’s interim safety review, and several important aspects come to light. However, the most crucial observation has to do with BioLexa indicating impressive tolerance. Such an observation implies that the product consumers won’t have to struggle with serious adverse events.
The CEO of Hoth Therapeutics Robb Knie opines, “Today’s announcement represents a significant milestone for Hoth. We are very pleased by the Cohort 1 results and are proceeding as planned with submission and enrollment for Cohort 2 with atopic dermatitis patients later this year.”
The company has had its fair share of challenges
The latest development strikes investors as a positive attribute for the company and inspires great hope. However, the situation looked terrible sometime back when shareholders started expressing concerns over the company’s cash burn rate.
Analysts wanted to understand whether or not there was a cause for alarm among the shareholders. Analysts took to strike comparisons between the company’s cash reserves and cash burn in a bid to understand its cash run away.
Hoth Therapeutics Inc’s cash burn trajectory might strike most people as pretty solid. However, analysts believe that shareholders should give the company the benefit of the doubt, considering the numerous avenues to generate money. They mention taking a debt, the issuance of new shares, and other reasons.