01:49 PM EDT, 10/29/2024 (MT Newswires) -- Hoth Therapeutics ( HOTH ) shares advanced nearly 24% in recent Tuesday trading after the company said preliminary results of a preclinical study suggested that its HT-KIT drug inhibits and stabilizes tumor growth.

The study was undertaken through a sponsored scientific research agreement with NC State University, the company said.

Hoth said initial findings showed minimal changes in tumor volumes in treated animals, suggesting that the drug inhibited tumor growth. Tumor sizes were also consistent across the treated animals, indicating the drug's potential reproducibility and reliability, the company added.

Price: 1.09, Change: +0.21, Percent Change: +23.86