Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, announced today the closing of its previously announced underwritten public offering of 1,818,182 shares of its common stock, at a price to the public of $2.75 per share. The gross proceeds to Hoth from this offering are expected to be approximately $5.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Hoth. In addition, Hoth has granted the underwriters a 45-day option to purchase up to an additional 272,727 shares of common stock at the public offering price, less underwriting discounts and commissions. Hoth intends to use the net proceeds from the offering for general corporate purposes, including the development of products to prevent Coronavirus (COVID-19), working capital, sales and marketing activities, and general and administrative matters.

The Benchmark Company, LLC acted as sole book-running manager for the offering.

About Hoth Therapeutics, Inc.

Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. Hoth's pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, asthma and acne. Hoth has also recently entered into two different agreements to further the development of two different vaccine prospects to prevent or treat COVID-19. To learn more, please visit www.hoththerapeutics.com.