HAMILTON, BERMUDA - Altamira Therapeutics Ltd. (NASDAQ:CYTO), a biopharmaceutical company, recently shared that its Bentrio nasal spray has demonstrated positive results in a clinical trial for seasonal allergic rhinitis (SAR). The NASAR trial's findings, which enrolled 100 patients in Australia, were highlighted in a video abstract published by Allergy, a top-tier allergology journal.
The double-blind study compared Bentrio, a drug-free nasal spray, with a saline solution over two weeks. Patients were administered the treatment three times daily. Results showed that Bentrio significantly reduced the mean daily reflective Total Nasal Symptom Score (rTNSS) compared to saline, meeting its primary efficacy endpoint with a p-value of 0.013.
Secondary endpoints, such as improvement in health-related quality of life and superior global ratings of efficacy by patients and investigators, were also met with statistical significance.
Bentrio, which forms a protective barrier in the nasal cavity, was well-tolerated and showed safety comparable to saline. Additionally, fewer patients treated with Bentrio resorted to relief medication, and more enjoyed symptom-free days compared to the saline group.
Thomas Meyer, Altamira's founder, Chairman, and CEO, expressed enthusiasm about the product's potential impact on allergic rhinitis sufferers. He also indicated plans to expand Bentrio's market presence, with ongoing discussions for distribution in the US, Europe, and other key markets expected to conclude in 2024.
Altamira, known for its RNA delivery technology for non-liver targets, holds a 49% stake in Altamira Medica AG, which markets Bentrio. The company forecasts significant sales growth from 2024, driven by Bentrio's launch in new countries.
The information in this article is based on a press release statement from Altamira Therapeutics.
InvestingPro Insights
As Altamira Therapeutics Ltd. (NASDAQ:CYTO) continues to garner attention with the promising results of its Bentrio nasal spray, a look at the company's financial health and stock performance provides a broader context for investors. According to InvestingPro data, Altamira Therapeutics has a market capitalization of just 3.2 million USD, reflecting its status as a small-cap company within the biopharmaceutical industry. Despite the positive clinical trial outcomes, the company's stock has experienced significant volatility. Over the last six months, the price total return has plummeted by 76.09%, and it currently trades near its 52-week low, with the price at just 7.95% of the 52-week high.
One of the InvestingPro Tips suggests that Altamira is trading at a low Price / Book multiple of 0.45 as of the last twelve months ending in Q4 2023. This could indicate that the stock is undervalued relative to its book value, potentially offering an attractive entry point for value investors. However, it's important to note that the company's operating income is adjusted to a loss of 7.03 million USD for the same period, and analysts do not anticipate Altamira will be profitable this year. These financial metrics underscore the risk profile associated with investing in the biopharmaceutical sector, particularly for companies focused on developing new therapies.
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