Altamira Therapeutics Ltd. Common Shares 0.01 SF (Bermuda) - CYTO STOCK NEWS

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.

Altamira Therapeutics Ltd. (NASDAQ: CYTO) announced the publication of a peer-reviewed study in the International Archives of Allergy and Immunology on Bentrio, a drug-free nasal spray for allergic rhinitis. The study demonstrated Bentrio's rapid onset of action and superior efficacy compared to a marketed HPMC spray, with participants rating it twice as favorable. With FDA clearance obtained in June 2022, Bentrio is currently distributed in Europe and Asia, and plans for divestiture in North America and Europe are in progress.

Altamira Therapeutics Ltd. (NASDAQ:CYTO) announced a 1-for-20 reverse stock split, effective October 25, 2022, to meet NASDAQ's $1.00 minimum bid price requirement. This action will consolidate every 20 shares into one, reducing the total shares outstanding from approximately 21.5 million to about 1.1 million. The reverse split will not affect the percentage ownership or voting rights of shareholders. The authorized common shares will decrease to 5 million, with a new par value of CHF 0.20 per share, while fractional shares will be compensated in cash.

Altamira Therapeutics (NASDAQ:CYTO) has entered a definitive agreement to sell a 90% stake in its subsidiary Zilentin, focusing on inner ear therapeutics. The deal includes an immediate cash payment of $2 million and potential future payments totaling $55 million. Zilentin will acquire the option to purchase remaining inner ear assets for $25 million cash. This transaction aligns with Altamira's strategy to concentrate solely on RNA delivery technology. CEO Thomas Meyer will oversee Zilentin while continuing at Altamira, which is also working to divest its Bentrio nasal spray by year-end.

Altamira Therapeutics (Nasdaq: CYTO) will participate in the RNA Leaders USA Congress on October 18-19, 2022, in Boston, MA. Chief Scientific Officer Samuel Wickline, MD, will present their OligoPhore/SemaPhore delivery platform, emphasizing its advantages for siRNA therapeutics. Key benefits include a universal formulation process, extrahepatic delivery with minimal off-target effects, and deep tissue penetration. Altamira aims to out-license this innovative platform to biotech firms and is developing internal programs targeting KRAS-driven cancers and rheumatoid arthritis.

Altamira Therapeutics (NASDAQ:CYTO) has resumed participant enrollment in its NASAR clinical trial for the Bentrio nasal spray aimed at treating seasonal allergic rhinitis in Australia, coinciding with the onset of pollen season. The study will include 100 patients and compare the safety and efficacy of Bentrio against a saline nasal spray, with data results expected by Q1 2023. The trial, initially started in fall 2021, faced a temporary suspension in spring 2022. Interim data previously assisted in obtaining FDA clearance for Bentrio.

Altamira Therapeutics Ltd. (NASDAQ:CYTO) announces the re-launch of its Bentrio nasal spray in selected European countries, starting in Germany in early October 2022. The product aims to alleviate allergic symptoms from airborne allergens like pollen and dust mites. Bentrio's protective effects have been supported by clinical trials. The company is also engaged in partnership discussions for distribution in Europe and the US, expected to conclude by Q4 2022. Additionally, interim data from ongoing clinical studies may support further labeling expansions.

Altamira Therapeutics (NASDAQ:CYTO) announced it has reached its extended enrollment target of 160 patients in the COVAMID clinical trial, which evaluates the efficacy of Bentrio™ nasal spray for acute COVID-19 treatment. Top-line data is anticipated in Q4-2022. Bentrio, a drug-free nasal spray, is designed to protect against airborne viruses and allergens and has recently received OTC marketing clearance in the US for allergic rhinitis. A successful trial outcome could expand its product label to include viral infections.

Altamira Therapeutics (NASDAQ:CYTO) will hold an investor call on September 14, 2022, at 10:30 a.m. ET, to discuss its strategy in RNA therapeutics. Investors can access the call via a toll-free number or international number. The webcast starts 15 minutes prior, and questions can be submitted via email by September 11, 2022. A replay will be available 30 minutes post-call until September 28, 2022. Altamira focuses on RNA therapeutics, nasal sprays for allergens, and treatments for tinnitus and hearing loss.