Altamira Therapeutics Ltd - CYTO STOCK NEWS

Altamira Therapeutics (Nasdaq:CYTO) announced on October 4, 2024, that it received a letter from Nasdaq's Listing Qualifications Department on September 30, 2024. The letter stated that Altamira no longer complied with Rule 5550(a)(2) of Nasdaq's Listing Rules, which requires listed securities to maintain a minimum bid price of $1.00 per share. This non-compliance occurred because the bid price of Altamira's listed securities closed at less than $1.00 per share over 30 consecutive business days, from August 16, 2024, through September 27, 2024.

The company is not eligible for a cure period due to having effectuated one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one. Altamira intends to appeal this determination to a hearing panel, which will result in a stay of any suspension or delisting action pending the hearing. However, there is no assurance that the Panel will grant Altamira's request for continued listing or any extension.

Altamira Therapeutics has announced an extended ISO 13485 certification for its quality management system, now including production activities for Bentrio nasal spray. This certification covers the entire process from design and development to production and distribution.

The extended certification is a significant milestone in Altamira's growth strategy for Bentrio, which involves collaboration with a strategic contract manufacturer and an expanding network of international distributors. Thomas Meyer, Chairman and CEO of Altamira Medica, emphasized the importance of this achievement in ensuring Bentrio's compliance with high quality standards and regulatory requirements.

This development supports Altamira's efforts to expand the reach of Bentrio in the market, reinforcing its commitment to quality and regulatory compliance in the medical device industry.

Altamira Therapeutics (Nasdaq:CYTO) reported its first half 2024 financial results, highlighting key developments in RNA delivery and business restructuring.

The company showcased progress in its RNA delivery platforms, OligoPhore and SemaPhore, with notable scientific publications demonstrating efficacy in cancer and inflammatory disease treatments. Altamira's R&D team moved to new facilities at Switzerland Innovation Park, enhancing their capabilities.

Financial results showed a net loss of $4.3 million, a 27% improvement from the previous year's $5.9 million. Operating loss from continuing operations was $3.9 million, up from $3.6 million in H1 2023, mainly due to increased R&D expenses. Cash used in operations decreased significantly to $3.2 million from $8.4 million in H1 2023.

Altamira expanded distribution territories for Bentrio®, its nasal spray, and continued strategic repositioning towards RNA delivery by divesting a 51% stake in Altamira Medica for $2.3 million. The company also raised $4.7 million through share issuances and a public offering.

Altamira Therapeutics (Nasdaq: CYTO), a company specializing in nanoparticle-based RNA delivery technology, has announced its upcoming First Half 2024 Financial Results and Business Update Call. The event is scheduled for Tuesday, September 24, 2024, at 8:30 am ET.

Key participants in the call will be Founder, Chairman, and CEO Thomas Meyer, along with COO Covadonga Pañeda. They will present prepared remarks followed by a Q&A session open to investors and analysts.

Interested parties can access the webcast through the provided URL. Additionally, a registration link is available for those who wish to join the call via phone. Multiple options for joining are offered, including dial-in with a unique PIN and a 'Call Me' feature. A replay of the call will be accessible through the webcast link after the live event concludes.

Altamira Therapeutics announced the closing of its public offering, raising approximately $4.0 million upfront with potential additional gross proceeds of $8.0 million upon full exercise of milestone-linked warrants. The offering included 5,555,556 common shares (or pre-funded warrants) and accompanying Series A-1 and A-2 common warrants at a combined price of $0.72 per share. The Series A-1 warrants are exercisable immediately and expire on the earlier of 18 months from issuance or 60 days post-positive biodistribution data announcement. Series A-2 warrants also are immediately exercisable and expire on the earlier of five years from issuance or six months post-agreement announcement covering specific territories. H.C. Wainwright & Co. acted as the exclusive placement agent. Net proceeds will be used for working capital and general corporate purposes. Additionally, existing warrants for 555,556 common shares were amended to reduce the exercise price to $0.72 per share.

Altamira Therapeutics (Nasdaq: CYTO) has announced the pricing of a public offering to raise up to $12 million. The offering includes 5,555,556 common shares (or pre-funded warrants) with accompanying Series A-1 and A-2 common warrants, priced at $0.72 per share. The initial gross proceeds are expected to be $4 million, with potential additional proceeds of $8 million if all warrants are exercised. The funds will be used for working capital and general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent. The offering is expected to close around September 19, 2024. Additionally, certain existing warrants will be amended to reduce the exercise price from $9.00 to $0.72 per common share.

Altamira Therapeutics (Nasdaq: CYTO) announced the expansion of its Bentrio® nasal spray license and distribution agreement with Nuance Pharma. The extended agreement now includes seven additional countries in East and South East Asia, covering a population of over 630 million. Nuance has successfully launched Bentrio in Hong Kong and filed for marketing authorization in Mainland China. The expanded territory includes Singapore, Malaysia, Thailand, Philippines, Indonesia, Vietnam, and Taiwan, in addition to the original markets of China, Hong Kong, Macau, and South Korea.

Thomas Meyer, Altamira Medica's CEO, expressed satisfaction with the collaboration, while Mark G. Lotter, Nuance Pharma's CEO, highlighted Bentrio's unique features and positive market reception. The partnership aims to provide relief to the growing number of allergic rhinitis patients in the region.

Altamira Therapeutics (Nasdaq: CYTO), a company focused on RNA delivery technology for targets beyond the liver, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event will take place both virtually and in person from September 9-11, 2024, at the Lotte New York Palace Hotel in New York City.

Thomas Meyer, the founder, Chairman, and CEO of Altamira, will deliver an on-demand presentation starting at 7:00am ET on September 09, 2024. Registered attendees will have the opportunity to submit questions for the company after the presentation becomes available. Investors interested in scheduling a one-on-one meeting with Mr. Meyer are encouraged to email meetings@hcwco.com.

Altamira Therapeutics (Nasdaq:CYTO) has announced an extension of its exclusive distribution agreement for Bentrio with Pharma Nordic AS to include Sweden and Denmark, in addition to Norway. This follows the successful launch of Bentrio in Norway earlier in 2024. Pharma Nordic plans to introduce the nasal spray for prevention and treatment of allergic rhinitis in these two additional Scandinavian countries next year.

The CEO of Altamira Medica, Thomas Meyer, expressed satisfaction with Pharma Nordic's market launch activities in Norway. Bent Andreassen, CEO of Pharma Nordic, noted favorable responses from the medical community and patients, highlighting Bentrio's drug-free and preservative-free formulation as well as its efficacy and tolerability data.