Stock Alert: Hoth Therapeutics Rises 15% On Full Licensing Rights For BioLexa

(RTTNews) - Shares of Hoth Therapeutics Inc. (HOTH) are climbing more than 15 percent or $0.61 in Tuesday's morning trade at $4.55. The stock has traded in a range of $2.60 to $9.07 in the past 52 weeks.

Hoth Therapeutics is a New York-based clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders.

Monday, Hoth Therapeutics said it has obtained exclusive worldwide licensing rights to the BioLexa Platform, a proprietary, patented antimicrobial therapy focused on treating atopic dermatitis.

The company noted that the agreement serves as an extension to the previously executed sublicense agreement for the compound with Chelexa Biosciences, Inc.

The global atopic dermatitis market is positioned for significant growth at about 24.1 percent CAGR during the period from 2020 to 2027. Millions of people are afflicted by this debilitating skin ailment.