RTTNews | Dec 31, 2020 10:09AM EST

10:08 Thursday, December 31, 2020 (RTTNews.com) - Shares of Hoth Therapeutics, Inc. (HOTH) are surging over 50% on Wednesday after the biopharmaceutical company said it has signed a production deal for cancer treatment.

HOTH is currently trading at $2.48, up $0.84 or 51.22%, on the Nasdaq.

Hoth Therapeutics announced that it has signed a production agreement for both GLP and GMP materials associated with HT-001 with Tergus Pharma for its novel cancer treatment drug, HT-001.

Recently, Hoth requested a Pre-Investigational New Drug meeting to the FDA to discuss a proposed drug development program for the novel treatment.

HT-001 is a topical formulation designed for the treatment of patients with mild to moderate rash and skin disorders associated with initial and repeat courses of tyrosine kinase inhibitor/epidermal growth factor receptor inhibitor therapy.

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