Altamira Therapeutics Reports 2024 Financial Progress

Altamira Therapeutics Ltd. ( (CYTOF) ) has released its Q4 earnings. Here is a breakdown of the information Altamira Therapeutics Ltd. presented to its investors.

Altamira Therapeutics Ltd., a Bermuda-based company, specializes in developing RNA delivery technology aimed at targets beyond the liver, utilizing its innovative xPhore™ nanoparticle platform.

In its 2024 financial report, Altamira Therapeutics highlighted significant advancements in its RNA delivery business, including successful testing of its xPhore platform with circular RNA and plans to partially spin off this segment to private equity investors.

Key financial metrics revealed an increase in operating loss from $6.6 million in 2023 to $6.9 million in 2024, while cash used in operations was reduced by more than half to $6.1 million. The company ended the year with shareholders’ equity of $6.6 million and no financial debt. Strategic collaborations were established with partners in the biotech and radiopharmaceutical sectors, with expectations to expand partnerships further in 2025.

Altamira also made progress with its legacy assets, including the commercialization of Bentrio®, a nasal spray for allergic rhinitis, and ongoing partnering discussions for other therapeutic products.

Looking ahead, Altamira plans to continue expanding its RNA delivery business and expects to reduce operating expenses following the planned spin-off of its ATAG subsidiary. The company aims to fund its operations through cash reserves, proceeds from the spin-off, and potential partnerships or divestitures of legacy assets.