Hoth Therapeutics down as it pencils deal to license dermatological candidate

30 March 2020

US biopharma firm Hoth Therapeutics (Nasdaq: HOTH) today said it has entered into a non-binding letter of intent (LOI) with Isoprene Pharmaceuticals to acquire the full licensing rights of VNLG-152 novel retinamides (retinoic acid metabolism blocking agents, or RAMBAs) for the treatment of dermatological diseases.

The market was not impressed, sending Hoth’s shares down 6.4% to $2.93 by mid-morning trading, while the Nasdaq Index was up 2.7%.

Isoprene is a cancer therapeutic company that is a University of Maryland, Baltimore New Venture Initiative start-up founded by Vincent Njar, the lead scientific inventor, which is developing novel small molecules for the treatment of cancer.

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