Spherix completes deal to buy 6.8 million shares of Hoth
Spherix Inc., announced that they have closed a transaction with Hoth Therapeutics, in which Spherix acquired 6,800,000 shares of Hoth.
Hoth is a developmental stage biopharmaceutical company, the exclusive sublicensee of drugs that are created at University of Cincinnati, which works to create treatments for individuals with atopic dermatitis, which commonly exhibits itself in the form of eczema.
CEO of Spherix, Anthony Hayes, spoke on the transaction.
"We believe this is an accretive asset that will deliver value to our shareholders and show continuing efforts to build shareholder value," Hayes said.
Currently, eczema affects millions of Americas, making the treatment of the condition a multi-billion market in the country.
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