Hoth Therapeutics, Inc.

Hoth Therapeutics, Inc. reported no revenue for the fiscal year ended December 31, 2025, consistent with its status as a clinical-stage biopharmaceutical company. The company incurred a net loss of $12.5 million, widening from a net loss of $8.2 million in the prior year, representing a 52.4% year-over-year increase in losses. This was driven by a 83.0% increase in research and development expenses to $5.9 million, primarily due to clinical activities for HT-001 and patent acquisitions, and a 29.2% rise in general and administrative expenses to $6.4 million. The company's accumulated deficit reached $72.9 million. Despite the operational losses, financing activities provided $9.3 million in cash, primarily from warrant exercises and common stock issuances, resulting in a year-end cash balance of $6.2 million. The auditor expressed substantial doubt regarding the company's ability to continue as a going concern.

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