Altamira Therapeutics Regains Listing Compliance with NASDAQ Minimum Bid Requirement

Rhea-AI Summary

Altamira Therapeutics Ltd. (NASDAQ: CYTO) announced on November 8, 2022, that it has regained compliance with Nasdaq listing requirements. The company received confirmation that its share price had been at or above $1.00 for ten consecutive business days, thus meeting the Minimum Bid Price Requirement. This marks a significant milestone for Altamira, ensuring its continued listing on the Nasdaq exchange while it focuses on advancing its pipeline of therapeutics targeting unmet medical needs.

Positive

• Regained compliance with Nasdaq listing requirements.
• Stock price remained above $1.00 for ten consecutive business days.

Negative

• None.

Hamilton, Bermuda, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Altamira Therapeutics Ltd. (NASDAQ: CYTO), a company dedicated to developing therapeutics that address important unmet medical needs today announced that it has regained compliance with the Nasdaq listing requirements. On November 08, 2022 the Company received a letter from Nasdaq stating that because the Company’s shares had a closing bid price at or above $1.00 per share for a minimum of ten (10) consecutive business days, the Company’s stock had regained compliance with the Minimum Bid Price Requirement for continued listing on Nasdaq, and that the matter is now closed.

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 allergens and, where approved, viruses (Bentrio™; commercial) or for the treatment of vertigo (AM-125; post Phase 2), and the development of therapeutics for intratympanic treatment of tinnitus or hearing loss (Keyzilen® and Sonsuvi®; Phase 3). Founded in 2003, it is headquartered in Hamilton, Bermuda. 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 exercise by Zilentin AG of its option to purchase additional legacy assets, the achievement by Altamira of the milestones set forth in the option agreement with Zilentin, Altamira’s ability to complete a divestiture transaction of Bentrio, the approval and timing of commercialization 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.

FAQ

What does Altamira Therapeutics' compliance with Nasdaq listing requirements mean for investors?

It indicates that the company has met the minimum bid price requirement, which helps maintain investor confidence and stabilizes the stock.

When did Altamira Therapeutics regain compliance with Nasdaq requirements?

Altamira regained compliance on November 8, 2022.

What is the stock symbol for Altamira Therapeutics?

The stock symbol for Altamira Therapeutics is CYTO.

What are Altamira Therapeutics' main areas of development?

The company focuses on RNA therapeutics, nasal sprays for allergen protection, and treatments for tinnitus or hearing loss.