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Tag: CYTO

  • Altamira Therapeutics Ltd. (CYTO) Under Corrections Premarket After Huge Uptick on Covid-19 Nasal Spray Data

    Yesterday, Altamira Therapeutics Ltd. (CYTO) saw a huge uptick after it announced the publication of its Covid-19 nasal spray data in IJMS. The stock rallied by over 55% in the regular trading session to mark the close of the day at $1.66 apiece.

    In today’s premarket session on April 12, CYTO has succumbed to corrections and is falling down. At the time of writing, the stock had declined by 8.43% to reach $1.52 in the premarket.

    Source: Clinical Trials Arena

    CYTO’s Covid-19 Nasal Spray

    In 2021, the company started the clinical development of its drug-free nasal spray BentrioTM against SARS-CoV-2 and its variants in addition to other viral and allergic infections.

    As per the latest updates, the International Journal of Molecular Sciences (IJMS) published a peer-reviewed paper regarding CYTO’s positive research findings of in vitro efficacy and safety of Bentrio against the Delta variant. The major findings of the study included:

    • Significant reduction of viral titer against controls over 4 days.
    • Maximum reduction of 99% with wild-type SARS-CoV-2 variant
    • 83% Reduction with SARS-CoV-2 Delta variant
    • 12-fold reduction in viral titer in administration after 24 hours of the infection

    Recently, the company had also announced positive efficacy data of Bentrio against the Omicron variant in another study.

    Additionally, in March 2022 CYTO initiated another study of the nasal spray in acute Covid-19 patients.

    Market Opportunities

    The outbreak of Covid-19 while wreaking havoc on the world, also gave rise to numerous new opportunities. In the field of healthcare, the global Covid-19 therapeutics market was the outcome. Emerged only in late 2019 or more appropriately in 2021, the global Covid-19 market is expected to grow at a CAGR of 10.7%.

    Recently, the current vaccines and boosters for the virus were deemed to have very low efficacy with time. Moreover, proper treatment and preventative drugs are yet to be discovered. There is a huge gap in the new market that is yet to be addressed and fulfilled.

    CYTO’s Position

    Altamira is one of the companies that is working on developing a potential treatment for Covid-19. Its Bentrio nasal spray has so far shown promising results in multiple studies while other studies are still ongoing. Already in the marketplace in select European countries, the drug-free nasal spray is soon to be available in the first Asian countries as well.

    Conclusion

    On Monday, CYTO stock rallied big on data publication of its Covid-19 nasal spray. But the uptick was followed by a correction in today’s premarket as the stock began shedding its gains.

  • Altamira Therapeutics Ltd. (CYTO) Stock Plunges After Hours. What happened?

    Altamira Therapeutics Ltd. (CYTO) Stock Plunges After Hours. What happened?

    After gaining big on the BentrioTM program’s updates, Altamira Therapeutics Ltd. (CYTO) stock fell under corrections after hours. On December 29, the company provided positive updates on its BentroTM program.

    During the regular session, the stock saw a huge rise at a very heavy volume of 23.14 million shares. Due to the announcement, CYTO gained 35.76% at the closing price of $2.05 on Wednesday. Following the rise, the stock fell down to $1.96 in the after-hours with a loss of 4.39%.

    Currently, the company has a market capitalization of $20.6 million with its 13.64 million shares outstanding in the market.

    What is happening with CYTO?

    With the positive new developments in the Bentrio Program, investors flocked towards CYTO stock on Wednesday. Hence, the stock saw a hefty volume of 596% of its 65-day average of 3.88 million shares. The news pushed the stock to reach a high of $2.30 after over 40 days. Given the huge gains, the stock was bound to fall under corrections sooner or later. Hence, CYTO entered corrections in the after-hours on Wednesday, shedding its gains.

    In the past five days, the stock has added a value of over 58.9% and 25,77% last month. To look at the bigger picture, CYTO has seen a loss of 21.76% year to date.

    CYTO’s Recent Updates

    BentrioTM is the company’s nasal spray for protection against airborne viruses and allergens including allergic rhinitis, Covid-19, and others. As per the recent updates of the program:

    • CYTO has entered contracts with Germany’s wholesalers which encompasses over 50% of the country’s pharmacies.
    • Bentrio is also available in Germany on the Amazon platform, adding to its online presence in the world.
    • Bentrio is expected to be available in Switzerland in early January under a distribution agreement with Akos Santé.
    • In mid-October, the review of its 510(k) application was initiated by the U.S. FDA.
    • CYTO has entered a definitive marketing and distribution agreement with Wellesta Holdings Pte Ltd, Singapore. This agreement encompasses India, Indonesia, Malaysia, Singapore, Taiwan, and Vietnam.
    • Evaluation of Bentrio’s effectiveness against the Omicron variant is under planning.
    • Clinical trials of Bentrio against Covid-19 and allergies are progressing well.

    Other Developments

    Recently, the company announced the randomization of the first patients in two trials of Bentrio in different allergies. Firstly, the first patient group was randomized with the nasal spray in the in-house dust mite allergic rhinitis. Secondly, the randomization of the first group of patients also took place for seasonal allergic rhinitis.

  • Altamira Therapeutics Ltd. (CYTO) Falls after Steep Incline

    Altamira Therapeutics Ltd. (CYTO) Falls after Steep Incline

    Altamira Therapeutics Ltd. (CYTO) falls down to $2.20 with a decrease of 5.57% from its last close at $2.33 on November 12. During previous intraday trading the stock went up as high as $3.33 against a low of $2.14. Following Altamira’s report on positive in-vitro efficacy of their nasal spray against Sars-CoV-2 Delta Variant, the stock saw a huge upward surge. At volume of 194,370,926, the stock made a staggering jump of 53.29% on November 12. This steep incline soon was followed by a decline in the premarket as profit bookers became active.

    CYTO and its Positive Covid-19 Data

    Altamira Therapeutics Ltd. (CYTO) is a pharmaceutical company, that engages in the development of novel products targeting unmet medical needs. Currently, the company is working in three areas including: development of RNA therapeutics, nasal sprays for protections against viruses, allergens and vertigo, and therapeutics for hearing loss.

    On November 12, the company reported the positive data of its nasal spray against the delta variant of Covid-19. According to the report, BentrioTM is a drug-free nasal spray which formerly showed positive results against the Alpha variant. The new data showed the nasal spray also has positive efficacy against the highly contagious and fast replicating Delta Variant. CYTO is currently working on further trials of the nasal spray along with commercial roll out of the product.

    CYTO Financial Updates 2021

    Altamira Therapeutics Ltd. (CYTO) reported its financial results of the first half of 2021 on September 8. According to the financial results, the operating expenses for first half of 2021 were $7.06 million approx. against $2.6 million for that of 2020. Furthermore, the net loss was $7.4 million for first half of 2021, compared to $2.9 million for that of 2020. The net loss per share stood at $0.59 for 2021, versus that of $0.63 for the first half of 2020.

    As of June 30, 2021, the cash and cash equivalents totaled $9.2 million, against $12.3 million at December 31, 2020.  The company expects that existing cash along with its other means will enable it to fund its expenses and expenditure until mid 2022.

    Future Outlook

    The future outlook of CYTO seems good, given the advancements it has underway. Along with other developments, the company is undertaking the commercial lunch of its BentrioTM nasal spray to EU as well as international markets. With Covid’s Delta Variant being the new scare, this spray will enable people to get easy and ready protection.