UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June
24, 2021
Hoth Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
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Nevada
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001-38803
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82-1553794
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(I. R. S. Employer
Identification No.)
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1 Rockefeller Plaza, Suite 1039
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New York, New York 10020
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(Address of principal executive offices, including ZIP code)
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(646) 756-2997
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(Registrant’s telephone number, including area code)
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Not Applicable
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common stock, $0.0001 par value
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HOTH
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 25, 2021, Hoth Therapeutics, Inc. (the
“Company”) entered into an amendment (the “Knie Amendment”) to the amended and restated employment agreement by
and between the Company and Robb Knie dated February 20, 2019 (as amended, the “Amended and Restated Employment Agreement”)
pursuant to which Mr. Knie’s (i) base salary will increase to $450,000 per year effective as July 1, 2021 and (ii) the annual bonus
Mr. Knie shall be entitled to receive will increase to $350,000 effective as July 1, 2021, which annual bonus may be increased by the
Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), in its sole discretion, upon
the achievement of additional criteria established by the Compensation Committee from time to time (the “Annual Bonus”). In
addition, pursuant to the Knie Amendment, upon termination of Mr. Knie’s employment for death or Total Disability (as defined in
the Amended and Restated Employment Agreement), in addition to any accrued but unpaid compensation and vacation pay through the date of
his termination and any other benefits accrued to him under any Benefit Plans (as defined in the Amended and Restated Employment Agreement)
outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such termination date (collectively,
the “Knie Payments”), Mr. Knie shall be entitled to the following severance benefits: (i) 24 months of his then base salary;
(ii) if Mr. Knie elects continuation coverage for group health coverage pursuant to COBRA Rights (as defined in the Amended and Restated
Employment Agreement), then for a period of 24 months following Mr. Knie’s termination he will be obligated to pay only the portion
of the full COBRA Rights cost of the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective
plan year; and (iii) payment on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which
Mr. Knie was a participant as of the date of his termination (together with the Knie Payments, the “Knie Severance”). Furthermore,
pursuant to the Knie Amendment, upon Mr. Knie’s termination (i) at his option (A) upon 90 days prior written notice to the Company
or (B) for Good Reason (as defined in the Amended and Restated Employment Agreement), (ii) termination by the Company without Cause (as
defined in the Amended and Restated Employment Agreement) or (iii) termination of Mr. Knie’s employment within 40 days of the consummation
of a Change in Control Transaction (as defined in the Amended and Restated Employment Agreement), Mr. Knie shall receive the Knie Severance;
provided, however, Mr. Knie shall be entitled to a pro-rated Annual Bonus of at least $200,000. In addition, any equity grants issued
to Mr. Knie shall immediately vest upon termination of Mr. Knie’s employment by him for Good Reason or by the Company at its option
upon 90 days prior written notice to Mr. Knie, without Cause.
On June 25, 2021, the Company entered into an amendment (the “Johns
Amendment”) to the employment agreement by and between the Company and Stefanie Johns dated August 28, 2020, as amended on January
29, 2021, pursuant to which Ms. Johns’ base salary will increase to $265,000 per year effective as of July 1, 2021.
On June 25, 2021, the Company entered into an
amendment (the “Springer Amendment”) to the amended and restated employment agreement by and between the Company and Jane
H. Springer dated November 12, 2019 pursuant to which Mrs. Springer’s base salary will increase to $200,000 per year effective as
of July 1, 2021.
The foregoing descriptions of the Knie Amendment,
the Johns Amendment and the Springer Amendment do not purport to be complete and are subject to, and qualified in their entirety by reference
to the full text of the Knie Amendment, the Johns Amendment and the Springer Amendment, copies of which are attached hereto as Exhibits
10.1, 10.2 and 10.3, respectively, and are incorporated herein by reference.
Item
5.07. Submission of Matters to a Vote of Security Holders.
On June 24, 2021, the Company held its 2021 annual
meeting of shareholders (the “Annual Meeting”). A total of 12,661,865 shares of common stock constituting a quorum were represented
virtually in person or by valid proxies at the Annual Meeting. The final results for each of the
matters submitted to a vote of shareholders at the Annual Meeting, as set forth in the Company’s Definitive Proxy Statement, filed
with the Securities and Exchange Commission on May 7, 2021, are as follows:
Proposal
1. At the Annual Meeting, the terms of all current members of the Company’s board of directors expired. All of the
five nominees for director were elected to serve until the next annual meeting of shareholders or until their respective successors have
been duly elected and qualified, or until such director’s earlier resignation, removal or death. The result of the votes to elect
the five directors were as follows:
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Directors
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For
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Against
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Abstentions
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Broker Non-Votes
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Robb Knie
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6,547,352
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510,929
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119,320
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5,484,264
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Vadim Mats
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6,414,347
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641,766
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121,488
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5,484,264
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David Sarnoff
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6,463,810
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592,762
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121,029
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5,484,264
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Graig Springer
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6,403,231
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651,259
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123,111
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5,484,264
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Wayne Linsley
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6,578,878
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476,599
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122,124
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5,484,264
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Proposal
2. At the Annual Meeting, the shareholders approved the ratification of the appointment of WithumSmith+Brown, PC (“Withum”)
as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2021. The result of
the votes to approve Withum was as follows:
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For
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Against
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Abstain
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Broker Non-Votes
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12,315,566
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207,249
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139,050
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0
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Proposal 3. At the Annual Meeting, the
shareholders approved an amendment to the Hoth Therapeutics, Inc. 2018 Equity Incentive Plan (the “2018 Pan”) to increase
the number of shares reserved for issuance thereunder to 3,671,926 shares from 1,671,926 shares. The result of the votes to approve the
amendment to the 2018 Plan was as follows:
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For
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Against
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Abstain
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Broker Non-Votes
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5,690,815
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1,347,140
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139,646
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5,484,264
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On June 28, 2021, the Company issued a press release
announcing results from the AD001 Cohort 1 of the Phase 1b clinical trial of BioLexa for the treatment of atopic dermatitis. A copy of
the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
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Item 9.01.
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Financial Statements and Exhibits
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The exhibit listed in the
following Exhibit Index is filed as part of this Current Report on Form 8-K.
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+
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Indicates a management contract or any compensatory plan, contract
or arrangement.
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SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Date: June 30, 2021
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Hoth Therapeutics, Inc.
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/s/ Robb Knie
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Robb Knie
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Chief Executive Officer
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3
Exhibit 10.1
FIRST
AMENDMENT TO
AMENDED
AND RESTATED EMPLOYMENT AGREEMENT
This
First Amendment (this “Amendment”) to the Amended and Restated Employment Agreement dated as of June 25, 2021, and
effective as of July 1, 2021, is entered into between by and between Hoth Therapeutics, a Nevada corporation (the “Corporation”),
and Robb Knie (the “Executive”). All capitalized terms used herein but not otherwise defined shall have the meanings
set forth in the Agreement (as defined herein).
WHEREAS,
the Corporation and Executive entered into that certain Amended and Restated Employment Agreement dated as of February 20, 2019 (the
“Agreement”); and
WHEREAS,
the Company and Executive desire to make certain amendments to the Agreement as set forth herein.
NOW
THEREFORE, in consideration of the above, and for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:
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1.
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Section
4(a) of the Agreement is hereby amended and restated in its entirety as follows:
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(a)
The Corporation shall pay the Executive as compensation for his services hereunder, in equal semi-monthly or bi-weekly installments during
the Term, the sum of $450,000 per annum, less such deductions as shall be required to be withheld by applicable law and regulations.
The Corporation shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right
to decrease the Base Salary. Executive’s annual rate of base salary, as in effect from time to time, is hereinafter referred to
as the “Base Salary.”
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2.
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Section
4(b) of the Agreement is hereby amended and restated in its entirety as follows:
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(b)
In addition to the Base Salary set forth in Section 4(a) above, the Executive shall be entitled to receive an annual cash bonus (“Annual
Bonus”) in an amount up to $350,000 if the Corporation meets or exceeds criteria adopted by the Compensation Committee of the Board
(the “Compensation Committee”) for earning bonuses, which criteria shall be adopted by the Compensation Committee annually
after consultation with the Executive and which criteria must be reasonably likely to be attainable. The Annual Bonus may be increased
by the Compensation Committee, in its sole discretion, upon the achievement of additional criteria established by the Compensation Committee
from time to time. Annual Bonuses shall be paid by the Corporation to the Executive promptly after the year end, it being understood
that the Compensation Committee’s determinations concerning attainment of any financial targets associated with any bonus determination
shall not be determined until following the completion of the Corporation’s annual audit, if any, but in no event later than April
15th of the year following the year for which it is being paid (and if the Executive was employed as of last day of the calendar year
to which such Annual Bonus relates, then the Executive shall be entitled to the Annual Bonus for such year, even if he is not employed
by the Corporation on the date the Annual Bonus is paid for such last year). For the avoidance of doubt, if Executive is employed upon
expiration of the term of this Agreement, he shall be entitled to the Annual Bonus for such last year on a pro-rata basis through the
last date of employment, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year. In his
sole discretion, the Executive may elect to receive all or a portion of the Annual Bonus in shares of the Corporation’s common
stock at the basis determined by the Compensation Committee in good faith.
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3.
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Section
6(a) of the Agreement is hereby amended and restated in its entirety as follows:
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(a)
Upon termination of the Executive’s employment pursuant to Section 5(a)(i) (Death) or (ii) (Disability), in addition to the accrued
but unpaid compensation and vacation pay through the date of death or Total Disability and any other benefits accrued to him under any
Benefit Plans outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such date, the Executive
or his estate or beneficiaries, as applicable, shall be entitled to the following severance benefits: (i) twenty-four (24) months’
Base Salary at the then current rate, payable in a lump sum, less withholding of applicable taxes, within thirty (30) days of the date
of termination; (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA Rights, then for a period
of twenty-four (24) months following the Executive’s termination he will be obligated to pay only the portion of the full COBRA
Rights cost of the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year
and, to the extent required by any applicable nondiscrimination rules, the Company’s share of such premiums (the “Employer-Provided
COBRA Premium”) shall be treated as taxable income to the Executive; and (iii) payment on a pro-rated basis of any Annual Bonus
or other payments earned in connection with any bonus plan to which the Executive was a participant as of the date of death or Total
Disability. This Section 6(a) shall not terminate or otherwise interfere with any right to disability payments.
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4.
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Section
6(b) of the Agreement is hereby amended and restated in its entirety as follows:
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(b)
Upon termination of the Executive’s employment pursuant to Section 5(a)(iv) (Voluntary Termination by Executive), 5(a)(v) (Termination
for Good Reason), 5(a)(vii) (Termination by the Company Without Cause) or 5(a)(viii) (Termination Within Forty Days of a Change in Control),
in addition to the accrued but unpaid compensation and vacation through the date of termination and any other benefits accrued to him
under any Benefit Plans outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such date,
the Executive shall be entitled to the following severance benefits: (i) twenty-four (24) months’ Base Salary at the then current
rate, to be paid in a single lump sum payment not later than thirty (30) days following such termination, less withholding of all applicable
taxes; (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA Rights, then for a period of twenty-four
(24) months following the Executive’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of
the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year and, to the extent
required by any applicable nondiscrimination rules, the Employer-Provided COBRA Premium shall be treated as taxable income to the Executive;
and (iii) payment on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which the Executive
was a participant as of the date of the Executive’s termination of employment; provided, however, that the pro-rated Annual Bonus
payable pursuant to Section 6(b)(iii) shall be no less than $200,000. In addition, any equity grants issued to Executive shall immediately
vest upon termination of Executive’s employment pursuant to Section 5(a)(v) or 5(a)(vii).
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5.
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This
Amendment shall be for the benefit of and be binding upon, the parties hereto and their respective
successors and assigns. Except as amended hereby, the terms and provisions of the Agreement
shall remain in full force and effect, and the Agreement is in all respects ratified and
confirmed. On and after the date of this Amendment, each reference in the Agreement to the
“Agreement”, “hereinafter”, “herein”, “hereinafter”,
“hereunder”, “hereof”, or words of like import shall mean and be
a reference to the Agreement as amended by this Amendment. This Amendment shall be construed,
enforced, and governed under the internal laws of the State of New York, without giving effect
to any choice of law provision or rule of any other jurisdiction. This Amendment may be executed
in counterparts, each of which shall be deemed an original but all of which together will
constitute one and the same instrument. Counterpart signature pages to this Amendment transmitted
by facsimile transmission, by electronic mail in portable document format (.pdf), or by any
other electronic means intended to preserve the original graphic and pictorial appearance
of a document, will have the same effect as physical delivery of the paper document bearing
an original signature.
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[Signature
Page Follows]
IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first indicated above.
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HOTH
THERAPEUTICS, INC.
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By:
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/s/
Wayne Linsley
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Name:
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Wayne
Linsley
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Title:
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Chairman
of the Compensation Committee
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EXECUTIVE
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By:
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/s/ Robb
Knie
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Robb
Knie
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-3-
Exhibit 10.2
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment (this
“Amendment”) to the Employment Agreement is dated as of June 25, 2021, and effective as of July 1, 2021, and is entered
into by and between Hoth Therapeutics, Inc., a Nevada corporation (the “Corporation”), and Stefanie Johns (the “Employee”).
All capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Employment Agreement (as defined
herein).
WHEREAS, on August
28, 2020, the Corporation entered into an employment agreement with the Employee, as amended on January 29, 2021, pursuant to which the
Employee serves as Chief Scientific Officer of the Corporation (the “Employment Agreement”); and
WHEREAS, the Corporation
and the Employee desire to amend the Employment Agreement to increase Employee’s salary as set forth herein.
NOW THEREFORE, in consideration
of the above, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:
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1.
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Section 4(a) of the Employment Agreement is amended and restated
in its entirety as follows:
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(a) The Corporation shall pay the Employee
as compensation for her services hereunder, in equal bi-weekly installments during the Term, an annual salary of $265,000.00), less such
deductions as shall be required to be withheld by applicable law and regulations. The Corporation shall review the Base Salary on an annual
basis and has the right but not the obligation to increase it. Employee’s annual rate of base salary, as in effect from time to
time, is hereinafter referred to as the “Base Salary.”
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2.
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This Amendment shall be for the benefit of and be binding
upon, the parties hereto and their respective successors and assigns. Except
as amended hereby, the terms and provisions of the Employment Agreement shall remain in full force and effect, and the Employment Agreement
is in all respects ratified and confirmed. On and after the date of this Amendment, each reference in the Employment Agreement to the
“Agreement”, “hereinafter”, “herein”, “hereinafter”, “hereunder”, “hereof”,
or words of like import shall mean and be a reference to the Employment Agreement as amended by this Amendment. This Amendment
shall be construed, enforced, and governed under the internal laws of the State of New York, without giving effect to any choice of law
provision or rule of any other jurisdiction. This Amendment may be executed in counterparts, each of which shall be deemed an original
but all of which together will constitute one and the same instrument. Counterpart signature pages to this Amendment transmitted by facsimile
transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original
graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original
signature.
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IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed as of the date first indicated above.
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HOTH THERAPEUTICS, INC.
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By:
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/s/ Robb Knie
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Name: Robb Knie
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Title: Chief Executive Officer
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EMPLOYEE
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/s/ Stefanie Johns
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Stefanie Johns
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Exhibit 10.3
FIRST AMENDMENT TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This First Amendment (this
“Amendment”) to the Employment Agreement dated as of June 25, 2021, and effective as of July 1, 2021, is entered into
between by and between Hoth Therapeutics, a Nevada corporation (the “Company”), and Jane H. Springer (the “Employee”).
All capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Employment Agreement (as defined
herein).
WHEREAS, on November
12, 2019, the Company entered into an amended and restated employment agreement with the Employee pursuant to which the Employee serves
as Vice President of Operations of the Company (the “Employment Agreement”); and
WHEREAS, the Company
and Employee desire to amend to the Employment Agreement to increase the Employee’s salary as set forth herein.
NOW THEREFORE, in consideration
of the above, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:
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1.
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Section 4.1 of the Employment Agreement is hereby amended and restated in its entirety as follows:
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4.1 Base Salary. The Company
shall pay the Employee as compensation for her services hereunder, in equal semi-monthly or bi-weekly installments during the Employment
Term, an annual salary of $200,000, less such deductions as shall be required to be withheld by applicable law and regulations. The Company
shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right to decrease
the Base Salary. Employee’s annual rate of base salary, as in effect from time to time, is hereinafter referred to as the “Base
Salary.”
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2.
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This Amendment shall be for the benefit of and be binding upon, the parties hereto and their respective
successors and assigns. Except as amended hereby, the terms and provisions of the Employment Agreement shall remain in full force and
effect, and the Employment Agreement is in all respects ratified and confirmed. On and after the date of this Amendment, each reference
in the Employment Agreement to the “Agreement”, “hereinafter”, “herein”, “hereinafter”,
“hereunder”, “hereof”, or words of like import shall mean and be a reference to the Employment Agreement as amended
by this Amendment. This Amendment shall be construed, enforced, and governed under the internal laws of the State of New York, without
giving effect to any choice of law provision or rule of any other jurisdiction. This Amendment may be executed in counterparts, each of
which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to
this Amendment transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic
means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery
of the paper document bearing an original signature.
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IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed as of the date first indicated above.
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HOTH THERAPEUTICS, INC.
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By:
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/s/Robb Knie
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Name: Robb Knie
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Title: Chief Executive Officer
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EMPLOYEE
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By:
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/s/Jane Springer
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Jane H. Springer
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Exhibit 99.1
Hoth Therapeutics Announces Positive Safety
Results from AD001 Cohort 1 of Phase 1b Clinical Trial of BioLexa for the Treatment of Atopic Dermatitis
The primary
objectives were achieved in cohort one
BioLexa was well-tolerated with no treatment
related adverse events
Initiating
Cohort 2 patient screening in September
NEW YORK,
NY June 28, 2021/ PR Newswire/ Today, Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient focused biopharmaceutical company,
announced the safety results in Cohort 1 of its first in human clinical trial of the proprietary
BioLexa platform to treat atopic dermatitis, also known as eczema.
BioLexa
has been administered twice per day for 14 days to the first ten subjects within Cohort 1; The interim safety review indicates that BioLexa
was well tolerated with no serious adverse events and no drug-related treatment-emergent adverse events observed.
“Today’s
announcement represents a significant milestone for Hoth,” stated Robb Knie, CEO of Hoth Therapeutics. “We are very pleased
by the Cohort 1 results and are proceeding as planned with submission and enrollment for Cohort 2 with atopic dermatitis patients later
this year.”
About
BioLexa
BioLexa
is a patented, proprietary antimicrobial topical formulation being developed for treatment of diseases mediated by Staphylococcal biofilms.
Bacterial biofilms are specialized, communities consisting of bacteria adhered to a surface (both biological and abiotic surfaces) and
to other bacteria, and often with a protective extracellular matrix. Mature bacterial biofilms often result in chronic, recurrent infections
that are difficult to treat due to the barrier effect of the biofilm that facilitates antibiotic resistance and avoiding immune system
mechanisms. The BioLexa formulation is optimized to prevent Staphylococcal biofilm formation, keeping the bacteria in a more susceptible
state to antimicrobial therapy. This novel mechanism of action has the potential to broadly treat clinical manifestations resulting from
Staphylococcal biofilm formation.
Additional
information and updates on the BioLexa clinical trial can be found by visiting www.hoththerapeutics.com and ClinicalTrials.Gov.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical
company focused on developing new generation therapies for unmet medical needs. Hoth's pipeline development is focused to improve the
quality of life for patients suffering from indications including atopic dermatitis, skin toxicities associated with cancer therapy, chronic
wounds, psoriasis, asthma, acne, and pneumonia. Hoth has also entered into two different agreements to further the development of two
therapeutic prospects to prevent or treat COVID-19. To learn more, please visit www.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, the timing and costs of other expenses; market acceptance of our products;
the ultimate impact of the current Coronavirus pandemic, or any other 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, 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; and our cash needs and financing plans. 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 and the factors described in the section entitled "Risk Factors" in
Hoth's most recent Annual Report on Form 10-K and 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
Media Relations Contact:
Makovsky
Email: hoth-mak@makovsky.com