Hoth Therapeutics Reports $3.5 Million Net Loss in Q1 2025, No Revenue Generated

Hoth Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of approximately $3.5 million, or $0.27 per share, compared to a net loss of $2.1 million, or $0.49 per share, for the same period in 2024. The company did not generate any revenue during this quarter, maintaining its status as a clinical-stage biopharmaceutical firm focused on developing therapies for unmet medical needs. The increase in net loss is attributed primarily to heightened research and development expenses, which surged to approximately $2.0 million from $0.6 million year-over-year.

Total operating expenses for the quarter reached approximately $3.5 million, up from $2.2 million in the prior year. The increase was driven by a significant rise in research and development costs, which included $1.3 million related to in-process research and development expenses associated with the acquisition of patent applications. General and administrative expenses slightly decreased to $1.5 million from $1.6 million, reflecting a reduction in compensation and related expenses, although this was offset by increased professional and consulting fees.

Hoth Therapeutics' cash and cash equivalents stood at approximately $11.3 million as of March 31, 2025, a notable increase from $7.0 million at the end of 2024. This improvement was largely due to financing activities, including the exercise of warrants that generated approximately $5.6 million in gross proceeds. The company also issued 927,968 shares of common stock for net proceeds of about $1.4 million under its At The Market Offering Agreement, which was expanded to allow for up to $5 million in sales.

The company’s total assets increased to approximately $12.4 million, up from $7.7 million at the end of 2024, while total liabilities decreased slightly to $815,299 from $833,906. Hoth Therapeutics continues to face challenges in achieving profitability, with an accumulated deficit of approximately $63.9 million as of March 31, 2025. The company anticipates that it will require additional capital to fund its ongoing research and development activities and to support its operational needs over the next 12 months.

Looking ahead, Hoth Therapeutics plans to continue its focus on developing its product candidates, including treatments for cancer-related side effects, mast-cell derived cancers, and neuroinflammatory diseases. The company acknowledges the need for further funding to support its long-term business strategy and is exploring various financing options, including equity and debt securities, to ensure it can meet its operational and developmental goals.