The Altamira Therapeutics Ltd (NASDAQ: CYTO) stock price rallied 62.55% despite the lack of news releases from the company that specialises in developing therapeutics that address critical unmet medical needs.
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The lack of current news from the company means we have to look at previous releases to see if we can find any fundamental triggers for the latest rally. Looking at past news, the firm had published positive results from its TRAVERS Phase 2 trial with AM-125 (intranasal betahistine) in surgery-induced acute vestibular syndrome (AVS).
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The positive clinical results were released on April 12, 2023, triggering a brief rally in the company’s share price. However, the rally did not last as CYTO shares continued falling following a 2-day spike higher.
Since then, Altamira has not released any significant news. However, the firm posts regular updates on its Twitter handle regarding its RNA technologies and their potential impact on diseases such as cancers and cancer removal.
The company is working on developing OligoPhore™ / SemaPhore™ as a versatile platform for delivering nucleic acid payloads such as siRNA (small interfering ribonucleic acid), mRNA (messenger ribonucleic acid) into target cells, using systemic or local administration.
The company's CEO made the following comments during the release of the phase 2 clinical trial results.
Thomas Meyer, Altamira Therapeutics' founder, Chairman and CEO, said: “The demonstration of proof of concept in the TRAVERS trial marks a major milestone in the development of AM-125 as an innovative treatment for acute vestibular syndrome. The trial's main outcomes suggest that AM-125 helps to accelerate vestibular compensation and patients to regain balance and recover faster. By administering betahistine with a nasal spray, we address a major shortcoming of betahistine: poor oral bioavailability resulting in very low concentrations of the active substance in the blood circulation.”
The company expects to submit an IND application for AM-125 to the FDA next month. The firm wants to move the innovative AM-125 program forward with one or several partners as it looks to reposition the Company around our RNA delivery technology.
*This is not investment advice.
Altamira Therapeutics (CYTO) stock price.
The Altamira Therapeutics (CYTO) stock price rallied 62.55% to trade at $1.39, from Wednesday’s closing price of $0.8551.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.