HAMILTON, BERMUDA - Altamira Therapeutics Ltd. (NASDAQ:CYTO), a Bermuda-based biopharmaceutical company, has announced positive results from a clinical trial of Bentrio, a nasal spray for seasonal allergic rhinitis (SAR). The study, published in the Allergy Journal, met its primary efficacy endpoint, demonstrating improvement in nasal symptoms and health-related quality of life.
The NASAR trial, conducted over two allergy seasons in Australia, involved 100 patients who were randomized to receive either Bentrio or a saline nasal spray. Results showed that Bentrio-treated patients experienced a significantly greater reduction in mean daily reflective Total Nasal Symptom Score (rTNSS) compared to those receiving saline. Additionally, the Rhinoconjunctivitis Quality of Life Questionnaire (RQLQ) scores improved significantly for those using Bentrio.
The company's CEO, Thomas Meyer, expressed enthusiasm about the trial results, highlighting the potential of Bentrio to manage not only mild but also severe allergy symptoms, and to reduce the need for drug-based relief treatments.
Bentrio is already on the market, distributed primarily through Altamira Medica AG, an associate company of Altamira Therapeutics. With these trial results, Altamira is looking to expand Bentrio's availability internationally, with plans to grow sales significantly from 2024 onwards by launching the product in additional countries, including the US and Europe.
Altamira Therapeutics specializes in RNA delivery technology for targets beyond the liver, with two flagship siRNA programs, AM-401 and AM-411, in preclinical development.
The information in this article is based on a press release.
InvestingPro Insights
As Altamira Therapeutics Ltd. (NASDAQ:CYTO) announces promising clinical trial results for its Bentrio nasal spray, investors and stakeholders might be interested in understanding the company's financial health and market performance. With a market capitalization of just $3.54 million, Altamira is a micro-cap biopharmaceutical company. Despite the small size, it's noteworthy that the company holds more cash than debt on its balance sheet, which can be a positive sign for investors looking for companies with a lower risk of financial distress.
Another key metric for investors is the Price / Book ratio, which currently stands at 0.5 as of the last twelve months ending Q4 2023. This indicates that the stock is trading at a low multiple of its book value, which could suggest that it is undervalued relative to its assets. However, it's important to consider this alongside other financial metrics and company-specific factors.
Investors should also be aware that Altamira's stock price has been highly volatile. Over the last year, the stock price has seen a significant decline of 92.62%, potentially indicating market uncertainty about the company's future. This volatility is further reflected in the short-term price movements, with a 6.76% total return over the last week but a -8.67% return over the last month as of April 25, 2024.
For those considering an investment in Altamira, it's beneficial to explore the range of InvestingPro Tips available. Currently, there are 14 additional tips listed on InvestingPro, which provide deeper insights into the company's performance and prospects. For those looking to access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With the next earnings date approaching on May 14, 2024, and the company's strategic plans to expand the availability of Bentrio, these financial insights could be crucial for investors looking to make informed decisions.
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