Benzinga | Mar 23, 2021 08:27AM EDT

Hoth Therapeutics Stock Rallies As Lead Peptide Candidate Shows Encouraging Preclinical Antiviral Activity Against COVID-19

* Hoth Therapeutics Inc (NASDAQ: HOTH) soars after reporting new in vitro data for its lead peptide candidate for HT-002 to treat COVID-19.

* Data showed that HT-002 inhibited 50% of the cytopathic effect (CPE) of the SARS-CoV-2 virus at 61.7 ?M (the EC50). No cytotoxicity was demonstrated at concentrations of up to 200 ?M of the peptide.

* Hoth plans to pursue further preclinical animal studies to support the lead peptide's therapeutic potential and investigate the route of administration.

* Price Action: HOTH shares are trading higher by 55% at $3.42 in premarket trading on the last check Tuesday.