Hoth Therapeutics Inc. Announces Completion of Series A Financing
NEW YORK, Feb. 22, 2018 /PRNewswire/ --Hoth Therapeutics Inc. ("Hoth" or the "Company"), a development stage biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema, announced today that it has completed its Series A financing totaling $3 million, before expenses, to fund operations and advance Hoth's BioLexa Platform. Laidlaw & Co (UK) Ltd. ("Laidlaw") in New York served as the sole placement agent.
Robb Knie, Hoth CEO stated, "We are extremely pleased to have completed this equity financing. We look forward to continuing to build value for our shareholders and furthering the development of the BioLexa Platform. We are appreciative of our initial investment by Spherix (NASDAQ: SPEX) and the completion of this funding by Laidlaw. We thank our investors for the confidence they have shown in us."
James Ahern, Laidlaw Managing Partner and Head of Capital Markets commented, "Laidlaw is pleased to have acted as the sole placement agent for Hoth and we look forward to future milestones and inflection points."
About Hoth Therapeutics Incorporated
Hoth Therapeutics Inc., a Nevada corporation, is a development stage biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema.
About Laidlaw & Co. (UK) Ltd.
Laidlaw & Company (UK) Ltd, founded in 1842, is a relationship driven international investment bank, providing wealth management services, capital raising, mergers & acquisitions advisory, research and corporate access to clients on a global level. Headquartered in New York City and United Kingdom, Laidlaw maintains eight offices across the United States and London, England with over 150 employees firm wide. Laidlaw also offers personalized investment advice and skillful execution to private and public institutions, as well as high net worth individual investors. The firm is a FINRA, MSRB and SIPC registered company.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. We are a small company with limited financial resources and our scientific background and abilities to implement a commercialization strategy is subject to ever-changing market conditions and rapidly-advancing technologies over which we have no control. While we believe that these forward-looking statements are reasonable, market conditions and competition in the marketplace is ever-changing and we have no control over these influences. As a result, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC") including, but not limited to, the Risk Factors relating to the Company's patent business and other aspects of the Company's business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Hoth Therapeutics Inc.