NEW
YORK, Nov. 20, 2024 /PRNewswire/ -- Hoth
Therapeutics, Inc. (NASDAQ: HOTH), a patient focused
biopharmaceutical company, today announced that the Company's Board
of Directors approved the purchase of up to $1 million in Bitcoin.
"As Bitcoin continues to grow, gaining investor
attention and acceptance as a major and primary asset class, we
believe that Bitcoin will serve as a strong treasury
reserve asset," said Robb Knie, CEO
of Hoth. "With recent approval of Bitcoin ETFs and
increasing activity from institutional investors, it is a strong
addition to our treasury strategy. We believe its
inflation-resistant characteristics may make it a reliable asset as
a functional store of value."
About Hoth Therapeutics, Inc.
Hoth Therapeutics is a clinical-stage biopharmaceutical company
dedicated to developing innovative, impactful, and ground-breaking
treatments with a goal to improve patient quality of life. We are a
catalyst in early-stage pharmaceutical research and development,
elevating drugs from the bench to pre-clinical and clinical
testing. Utilizing a patient-centric approach, we collaborate and
partner with a team of scientists, clinicians, and key opinion
leaders to seek out and investigate therapeutics that hold immense
potential to create breakthroughs and diversify treatment options.
To learn more, please visit https://ir.hoththerapeutics.com/.
Forward-Looking Statement
This press release includes
forward-looking statements based
upon Hoth's current expectations, which may
constitute forward-looking statements for the purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995 and other federal securities laws, and are subject to
substantial risks, uncertainties, and assumptions. These statements
concern Hoth's business strategies; the timing of regulatory
submissions; the ability to obtain and maintain regulatory approval
of existing product candidates and any other product candidates we
may develop, and the labeling under any approval we may obtain; the
timing and costs of clinical trials, and the timing and costs of
other expenses; market acceptance of our products; the ultimate
impact of any health epidemic, on our business, our
clinical trials, our research programs, healthcare systems, or the
global economy as a whole; our intellectual property; our reliance
on third-party organizations; our competitive position; our
industry environment; our anticipated financial and operating
results, including anticipated sources of revenues; our assumptions
regarding the size of the available market, benefits of our
products, product pricing, and timing of product launches;
management's expectation with respect to future acquisitions;
statements regarding our goals, intentions, plans, and
expectations, including the introduction of new products and
markets; our cash needs and financing plans; and the long-term
value of Bitcoin. There are a number of factors that
could cause actual events to differ materially from those indicated
by such forward-looking statements. You should not place reliance
on these forward-looking statements, which include words such as
"could," "believe," "anticipate," "intend," "estimate," "expect,"
"may," "continue," "predict," "potential," "project" or similar
terms, variations of such terms, or the negative of those terms.
Although the Company believes that the expectations reflected in
the forward-looking statements are reasonable, the Company cannot
guarantee such outcomes. Hoth may not realize its expectations, and
its beliefs may not prove correct. Actual results may differ
materially from those indicated by these forward-looking statements
as a result of various important factors, including, without
limitation, market conditions, risks inherent with investing
in Bitcoin, including Bitcoin's
volatility and risk of implementing a new Bitcoin
treasury strategy, and the factors described in the section titled
"Risk Factors" in Hoth's most recent Annual Report on Form
10-Kas amended or supplemented by Hoth's other filings made with
the U.S. Securities and Exchange Commission. All such statements
speak only as of the date made. Consequently, forward-looking
statements should be regarded solely as Hoth's current plans,
estimates, and beliefs. Investors should not place undue reliance
on forward-looking statements. Hoth cannot guarantee future
results, events, levels of activity, performance, or achievements.
Hoth does not undertake and specifically declines any obligation to
update, republish, or revise any forward-looking statements to
reflect new information, future events, or circumstances or to
reflect the occurrences of unanticipated events, except as may be
required by applicable law.
Investor Contact:
LR Advisors LLC
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678) 570-6791
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SOURCE Hoth Therapeutics, Inc.
