By Chris Wack
Altamira Therapeutics Ltd. said Friday it remains committed to its primary corporate strategy to focus exclusively on RNA delivery, which is yielding mixed results.
As previously stated, its discussions with major over-the-counter consumer health companies to partner Bentrio marketing and distribution for North America, Europe and other key markets have moved into a decisive phase.
The strong interim results from its study in seasonal allergic rhinitis have further bolstered the set of positive safety and efficacy data for Bentrio in allergic rhinitis.
Earlier this week, the pharmaceutical company said its Covamid trial didn't meet its primary endpoint for the treatment of long Covid-19 symptoms.
The company is still trying to sell or partner its other legacy assets and inner ear therapeutics. An agreed upon sale of these assets to a European family office didn't close as the buyer wasn't able to secure financing.
The company said the buyer remains interested in the transaction, and discussions continue. Concurrently, Altamira is pursuing a divestiture or partnering transaction for the inner ear assets with other parties.
The company has agreed with FiveT Investment Management Ltd. to restructure certain terms and conditions of a convertible loan which it had granted to Altamira in February 2022. Under the newly amended terms of the convertible loan agreement, the maturity is extended to March 15 from Feb. 8.
Altamira shares were down 6%, to $3.01, in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
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January 27, 2023 at 09:10PM
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Altamira Therapeutics Continues Strategy of Divestiture - MarketWatch
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