** Shares of drug developer Hoth Therapeutics HOTH.O rise 14.4% to $1.59 premarket
** Company says its experimental drug HT-KIT has received "orphan drug" tag from the U.S. FDA for the treatment of systemic mastocytosis and gastrointestinal stromal tumors
** FDA grants orphan drug status to promote drug development for rare diseases affecting fewer than 200,000 people in the U.S.
** As of last close, stock up 85.8% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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