10:52 AM EST, 12/26/2024 (MT Newswires) -- Hoth Therapeutics ( HOTH ) said Thursday that it entered into an exclusive patent license agreement with the US Department of Veterans Affairs to develop obesity treatment.

The deal also gives Hoth the rights to a patent co-developed by the department and Emory University, the company said.

Financial details weren't provided.

The technology uses the Glial Cell Line-Derived Neurotrophic Factor to treat obesity and related health conditions. The agreement includes a detailed development plan to guide the technology from research to commercialization, with the goal of making it widely accessible, the company said.

Shares of Hoth fell 6.3% in recent trading.

Price: 0.74, Change: -0.05, Percent Change: -6.30