01:44 PM EST, 01/08/2025 (MT Newswires) -- Hoth Therapeutics ( HOTH ) denied market rumors on Wednesday regarding plans to raise fresh capital.

The company said it has no plans for a public or private offering at this time. It also said it had over $10 million in cash and no debt -- enough funding to execute its strategic initiatives and advance its pipeline.

The company added that enrollment in the clinical trial of its lead therapeutic candidate HT-001 to treat rash and skin disorders associated with cancer therapy is "proceeding as planned."

Hoth Therapeutics ( HOTH ) shares were up more than 8% in recent trading.

Price: 2.48, Change: +0.20, Percent Change: +8.55