Altamira Therapeutics Issues Shareholder Letter

Rhea-AI Summary

Altamira Therapeutics (NASDAQ: CYTO) outlined its recent progress and future outlook in a shareholder letter dated May 18, 2022. The company is transitioning to a pure-play RNA therapeutics business targeting a $50 billion total addressable market (TAM). Key highlights include advancements in their RNA AM-401 program for KRAS-driven cancers, ongoing clinical trials for their nasal spray Bentrio, and upcoming data from the AM-125 nasal spray for vertigo. The plan includes divesting non-RNA legacy assets by year-end 2022 to fully focus on RNA developments.

Positive

• Transitioning to a pure-play RNA therapeutics company targeting a $50 billion total addressable market.
• Progress in the RNA AM-401 program aiming for clinical proof of concept for KRAS-driven cancers.
• Expansion of the drug-free nasal spray Bentrio in over 20 countries alongside three ongoing clinical trials.
• Upcoming favorable data readouts from the AM-125 nasal spray for vertigo.

Negative

• None.

Highlights Company's progress to becoming a pure-play RNA business and tech strategy and penetrate the multi-billion TAM

HAMILTON, BERMUDA / ACCESSWIRE / May 18, 2022 / Altamira Therapeutics Ltd. (NASDAQ:CYTO), a company dedicated to developing therapeutics that address important unmet medical needs, today issued a Letter to Shareholders providing highlights of the Company's recent achievements and its 2022 outlook.

Company highlights include:

• Altamira's pivot toward becoming a pure-play RNA therapeutics company
• The progress of its RNA business and tech strategy to penetrate the multi-billion total addressable market (TAM) $50 billion TAM
• The strategy with its RNA AM-401 program to achieve its first clinical proof of concept targeting KRAS driven cancers
• The rapid global expansion and commercialization of its drug-free nasal spray Bentrio
• Timeline of anticipated readouts of several ongoing Bentrio clinical trials
• Upcoming clinical data from its AM-125 nasal spray drug program for vertigo
• Upcoming regulatory milestones

"Over the last several months we've made tremendous strides in pivoting our business towards an RNA therapeutics pure play," said Thomas Meyer, Altamira's founder, CEO and Chairman. "We've laid the foundation by developing our proprietary OligoPhore^TM / SemaPhore^TM platforms for extrahepatic RNA delivery and are progressing the preclinical development of our AM-401 for treatment of KRAS-driven cancers.

Concurrent with our business transition, we have continued to invest in our non-RNA legacy programs and to drive the toward several important milestones. Our drug-free nasal spray Bentrio continues to expand its global commercialization footprint in over 20 countries while we advance three clinical trials. Based on positive interim clinical data for our AM-125 nasal spray drug for vertigo, we look forward to the upcoming read-out from our Phase 2 clinical trial . We plan to divest or spin off all legacy assets by year-end 2022 to more fully realize their value and become a pure play RNA company."

To read the shareholder letter, please visit: https://ir.altamiratherapeutics.com/

About Altamira Therapeutics

Altamira Therapeutics (NASDAQ: CYTO) is dedicated to developing therapeutics that address important unmet medical needs. The Company is currently active in three areas: the development of RNA therapeutics for extrahepatic therapeutic targets (OligoPhore™ / SemaPhore™ platforms; preclinical), nasal sprays for protection against airborne viruses and allergens (Bentrio; commercial) or the treatment of vertigo (AM-125; Phase 2), and the development of therapeutics for intratympanic treatment of tinnitus or hearing loss (Keyzilen® and Sonsuvi®, Phase 3). Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with its main operations in Basel, Switzerland. For more information, visit: https://altamiratherapeutics.com.

Forward-looking Statements

This press release may contain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Altamira Therapeutics' strategies or expectations. In some cases, you can identify these statements by forward-looking words such as "may", "might", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "projects", "potential", "outlook" or "continue", or the negative of these terms or other comparable terminology. Forward-looking statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, but are not limited to, the approval, timing of commercialization and commercial success of AM-301, Altamira Therapeutics' need for and ability to raise substantial additional funding to continue the development of its product candidates, the timing and conduct of clinical trials of Altamira Therapeutics' product candidates, the clinical utility of Altamira Therapeutics' product candidates, the timing or likelihood of regulatory filings and approvals, Altamira Therapeutics' intellectual property position and Altamira Therapeutics' financial position, including the impact of any future acquisitions, dispositions, partnerships, license transactions or changes to Altamira Therapeutics' capital structure, including future securities offerings. These risks and uncertainties also include, but are not limited to, those described under the caption "Risk Factors" in Altamira Therapeutics' Annual Report on Form 20-F for the year ended December 31, 2021, and in Altamira Therapeutics' other filings with the SEC, which are available free of charge on the Securities Exchange Commission's website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Altamira Therapeutics or to persons acting on behalf of Altamira Therapeutics are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Altamira Therapeutics does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

Investor contact:
Investors@altamiratherapeutics.com
800-460-0183

SOURCE: Altamira Therapeutics

View source version on accesswire.com:
https://www.accesswire.com/701814/Altamira-Therapeutics-Issues-Shareholder-Letter

FAQ

What is the focus of Altamira Therapeutics as of May 2022?

Altamira Therapeutics is focusing on becoming a pure-play RNA therapeutics company targeting a $50 billion total addressable market.

What advancements has Altamira made in its RNA AM-401 program?

Altamira is progressing its RNA AM-401 program aimed at achieving clinical proof of concept for treating KRAS-driven cancers.

What is the status of Altamira's Bentrio nasal spray?

Bentrio is expanding its global market presence in over 20 countries, with three clinical trials ongoing.

When is Altamira expecting data from its AM-125 nasal spray program?

Altamira anticipates upcoming clinical data from its AM-125 nasal spray for vertigo.

What is Altamira's plan regarding its legacy assets?

Altamira plans to divest or spin off all legacy assets by the end of 2022 to focus entirely on RNA therapeutics.