By Sam Boughedda
Investing.com — Altamira Therapeutics Ltd (NASDAQ:CYTO) reported positive efficacy data regarding its nasal spray's protection against Covid-19, boosting its shares.
According to the company, there was a "significant reduction" of an infectious viral load in the human nasal epithelium model either as a precaution or as a therapeutic application. They added that the results further confirm the spray's widespread applicability in viral infections.
Shares are currently up 84%, at around $2.80. It hit a high of $3.33 earlier in the session, its highest level since August.
"These fresh results provide further support for the broad applicability of Bentrio," said Thomas Meyer, Altamira's founder and CEO, who added the drug is suitable for use across different types of viruses and variants.
Altamira plans to conduct a clinical trial for Bentrio. While it awaits study approval from the Drugs Controller General of India, the company is planning another trial, which may be conducted instead of or in combination with the trial in India.